What are credits and how do they work?
Footprint charges in credits for our combined KYC + PII Security product. Each credit costs 25 cents. We charge in credits because we think it is an easier way for companies to keep track of pricing, and because it is a way for us to reward our early users (see below).
How do I get my first year free?
To be even more aligned with our early users, we will give you a rebate of three credits for each user that goes through a standard Footprint KYC on your platform the next time they do a one-click KYC on another platform. As a result, the cost of the first year of that user is given back to you in future credits to use.
How much do you charge for one-click KYC more expensive?
We charge eight credits ($2.00) for the one-click. This is because companies report drop-off of north of 50% when users have to fill in a KYC flow. Due to the lift in conversion and extra LTV of the net new customers we bring in through replacing the form with one-click, we charge a premium.
How does this compare to competitor pricing?
Most companies in our space actually don’t disclose pricing. Seriously. Stripe Identity to its credit does, and other than that Persona is the only company with a pricing page (though it does not mention any actual dollar amounts). This is purposeful—these companies charge complexity and add-on features you actually don’t need. Their incentives are for you to pay the most for each verification, because their business model revolves around verifying the individual moment-in-time. Anecdotally, our customers tell us we are much more affordable.
What is Footprint’s Business Model?
We operate a bit differently. We don’t want to make money by making verifications unnecessarily expensive. It’s why we give away biometric checks (e.g. FaceID, TouchID, etc) for free, and actually don’t recommend doing a driver’s license scan in many instances. While we’d be happy to make more money by doing a fairly simple task such as that scan, it really isn’t worth the money in most cases and adds unfortunate friction. Our business model has two core tenets to work: 1) democratize access to a best-in-class comprehensive security suite (with encryption, vaulting, access control, and audit logs), and 2) work toward a one-click future of identity. We charge accordingly.
Why do you disclose pricing?
Given our mission of bringing back trust and transparency to the Internet, we proudly display our pricing below, and genuine business model above. The pricing may change a bit over time, but we’ll update it here. As you’ll see below, we charge in credits for the KYC and Security product. For each user that does a standard KYC through you, we will give you a credit back each of the next three times they do a one-click KYC. That means you’ll recoup the cost of everyone you “onboard” to our network. Talk about aligned incentives :).
Do you support driver’s license scans?
Yes. We offer the ability to to a scan and selfie check for an extra $1 per verification, and will do a KBA for an extra $1.50. Our goal is to not do this unless your internal compliance team requires this, or if we can not make a confident pass decision without doing so. Unlike others in the space, our default is to not charge the extra dollar to do the dl scan.