KeySavvy, a Seattle-based fraud prevention and payments startup, is seeking to help tackle fraud and simplify private party vehicle transactions. With KeySavvy’s peer-to-peer automobile payment network, buyers and sellers are protected against title and payment fraud. Sellers provide buyers with the KeySavvy payment link after both have independently agreed on the vehicle’s pricing. The agreement on price is finalized when each party completes an electronic “handshake”. This kicks-off the verification process where KeySavvy pulls identity information directly from DMVs and other third party sources.
Seattle Fintech Startup Aims to Reduce Fraud for Used Vehicle Sales