Paymium is Europe’s pioneer Bitcoin/euro exchange platform, founded in 2011. Managed by a team with over 25 years of cryptography experience, its mission is to facilitate Bitcoin adoption and democratise the use of cryptocurrencies in Europe — promoting security, transparency and the traceability of value exchanges.
Founded: 2011 | IDnow solution since: 2018 | Tens of thousands of customers across Europe
Automated Document Verification, Biometric Facial Recognition
Paymium At a glance
−50 % fraud attempts
~10,000 customers verified per year
Live since November 2018
Cryptocurrency exchange platform • France
Paymium integrated IDCheck.io’s automated identity verification solution to streamline its KYC process, dramatically reduce subscription time, and cut fraud attempts by 50%. With approximately 10,000 customers verified per year, IDCheck.io has become a cornerstone of Paymium’s onboarding journey.
Challenges.
Paymium faced two main challenges. First, regulatory compliance: under France’s PACTE law, Paymium must register with the AMF as a Digital Asset Service Provider (DASP) and comply with the LCB-FT directive (Anti-Money Laundering and Counter-Terrorist Financing), which requires rigorous KYC procedures. Second, security: as a financial platform, Paymium must protect against identity theft and fraud. With the rise of digital onboarding, these threats have grown significantly.
“In its early days, the regulatory landscape around cryptocurrency and Bitcoin was quite unclear, but the AMF and the ACPR have now defined clear rules.”
Romain Villa, Compliance Manager, Paymium
Why IDnow.
Coverage of European identity documents.
Ease of technical integration and implementation.
Compliance with regulations, in particular GDPR.
Competitive pricing.
“IDCheck.io is now, for us, a cutting-edge solution that perfectly meets the legislative framework and has become a true must-have for a reliable and complete KYC journey.”
Romain Villa, Compliance Manager, Paymium
The KYC Process.
At each account opening, Paymium verifies the identity of every customer. The process runs in three steps: (1) The user is guided through identification by the IDCheck.io SDK. (2) The user captures their identity document; the IDCheck.io API analyses its authenticity in real time and delivers an instant verdict. (3) The user records a short video performing requested movements; the API compares this with the photo extracted from the document to confirm the identity of the holder.
“The project is far from over! Given the constant evolution of the regulatory framework and the explosion of cryptocurrency usage, Paymium will continue to evolve and carry out more and more verifications.”
Romain Villa, Compliance Manager, Paymium
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