INCLINE VILLAGE – Socure, a U.S.-based digital identity verification and compliance platform, has acquired Qlarifi, the first real-time Buy Now Pay Later (BNPL) consumer credit database, in a move aimed at strengthening fraud prevention and credit infrastructure for lenders and merchants.
The deal creates what the companies describe as the industry’s first unified identity, anti-fraud and BNPL credit framework, building on Socure’s First Party Fraud Consortium. The combined platform is designed to help consumers build credit responsibly through BNPL repayment, while reducing first-party fraud losses for lenders and merchants by as much as 70%.
BNPL transactions, which account for nearly 6% of U.S. e-commerce purchases and are growing at more than 20% annually, have traditionally operated outside conventional credit reporting systems. That has left blind spots for lenders and regulators, with global BNPL spending projected to exceed $700 billion by 2028.
Founded by former Klarna and Zip executives, Qlarifi aggregates repayment data across BNPL providers to identify risks such as loan stacking and overextension. Its pilot program in Europe has already demonstrated significant impact, according to the company.
“BNPL has outgrown legacy systems that were never designed to support these innovative lending products,” said Johnny Ayers, Socure’s founder and chief executive. “By combining Qlarifi’s database with our Identity Graph and RiskOS decisioning engine, we can deliver the unified infrastructure that consumers, lenders and regulators have been asking for.”
Socure, which serves more than 3,000 customers across 190 countries, said the acquisition expands its RiskOS platform, which provides solutions for consumer and business verification, credit underwriting, fraud prevention, anti-money laundering compliance and authentication.