PickleJar Entertainment Group (OTC:NREG) Stock Soars 31%: What’s The Buzz?
It was a good day in the markets for shareholders of PickleJar Entertainment Group (OTC:NREG), as the company’s stock went on a strong run and ended up with gains of 31%.
On Tuesday, it emerged that the company, a leader in providing entertainment business software, had entered into a partnership with authID for the purpose of combining ticketing services and artist payments with biometric identity verification. In this regard, it ought to be noted that authID is one of the leading players in the secure identity authentication and verification solutions space.
In the news release, it was noted that PickleJar Entertainment Group would use the identity life cycle platform from authID. The combination of the company’s best-in-class artists’ payments, performance ticketing, social commerce, and crowdfunding services with highly effective enterprise delivery and new-generation fraud mitigation technologies from authID.
“Biometrics continue to play an increasingly critical role in every aspect of account activation, transaction security, and synthetic identity detection, and this technology will ensure PickleJar remains on its competitive vanguard. Through PickleJar’s trusted touchpoints between fans, venues, and emerging artists, we are adding security and identity assurance to how money is earned and moved in the entertainment industry,” said PickleJar CEO Jeff James.
Social commerce, which is the combination of e-commerce and social media, is now an emerging sector. However, in order to drive purchases and higher consumer adoption, trust plays a very important role in the overall scheme of things. PickleJar Entertainment Group seeks to provide an experience to its users so that there is a high level of trust between the artists and their fans on its platform.
Hence, the partnership with authID is important for the company. In the press release, it was noted that authID led the market in both speed and accuracy pertaining to backend biometric processing. The company’s platform delivered accurate results in only 700 milliseconds.
The Chief Executive Officer of PickleJar Entertainment, Jeff James, spoke about the development as well. He noted that the partnership was a step forward in the company’s capability of preventing fraudulent activities and stopping the takeover of accounts. He also spoke about the importance of biometrics in all the different facets of account activation.
