Verie is Hoping to Make Identity Theft a Thing of The Past

One of the biggest risks with any online transaction, for both merchants and individuals, is the possibility that the person on the other end is not who they say they are. A new app called Verie is hoping to turn your smartphone into a virtual ID card. Verie's Director of Online Security Hemanshu (Hemu) Nigam said, 'If your credit card is thinking that there might be some fraudulent activity and they're working with Verie, you can open the app, it'll ask you to take a photo of yourself, then it will ask you to take a photo of your driver's license, front and back, then it will verify your identity.' Nigam compares it to a real world experience when someone walks into a notary and their face is compared to their identification. TheStreet's Ruben Ramirez tested the app, which is a 2015 SXSW Accelerator Finalist, in Austin, Texas.