Electronic Identity Verification in Hong Kong
Second-highest Economic Freedom in the World.
- GDC covers over 70% of the Hong Kong adult population 70%
Hong Kong’s ecommerce market is tipped to reach $25 billion by 2023 as consumers are adopting digital wallets and bank transfers.
It is a densely populated urban region with mobile and internet penetration rates of above 80%. Even with such high penetration rates, physical retail still plays a major role in the country; however, this is beginning to change.
People are shifting towards digital transactions with bank transfers and digital wallets, and both are expected to grow around 12% annually. Furthermore, the drop in retail sales is pushed by the drop in prepay methods, debit cards, and cash on delivery due to the streamlined virtual shopping environments.
Because ecommerce is still in its early stages in Hong Kong, there are plenty of untapped opportunities. For example, retailers are trying to increase their online presence and ecommerce footprint to survive. With digital wallets on track to account for nearly a third of all purchases in Hong Kong, the ecommerce market must establish airtight security and trustworthiness to elevate the shopping experience.
Verifiable Data Elements in Hong Kong
Date of Birth
Data Sources Available for Hong Kong Identity Verification
With GDC’s Data as a Service model, all data is stored and maintained in Hong Kong in compliance with their law. The sources are independent reference data sets that are qualified for identity verification use cases, and they are reliably updated and maintained by GDC’s data partners. No personally identifiable information leaves the source databases in the process of verifying identities.
How Global Data Consortium Works
The GDC global identity verification platform integrates the best available data and verification intelligence curated from our dozens of in-country partners. Each partner maintains identity verification solutions in their home country, helping in-country clients solve a variety of business problems. They deliver the most reliable identity verification results because they speak the language, understand the regulatory environment, and offer local expertise. Before joining the consortium, partners are required to go through a thorough vetting process, and their data must pass rigorous testing before it is released to GDC customers. But once they qualify to participate, they are our true partners and a big part of the GDC difference.
Start Verifying Your Hong Kong Customers Now
Global Data Consortium
For businesses that need to know the identities of their customers all over the world, we provide a single access point to local, high-quality reference data via our technology platform.