REDUCE MOBILE TRANSACTION FRAUD BY 40%
- Before allowing a transaction, companies need to establish trust in the device and the user.
- Device fingerprinting works well for a PC, as there are many points of differentiation which can be used to distinguish one PC from another.
- The same techniques cannot be used for mobile since phones look alike and are not customizable enough to uniquely identify. In addition, customer opt‐outs from tracking and operating system upgrades regularly wipe out device fingerprinting assets. Lastly, it is easy to spoof identifying assets on Android, and Apple does not allow access to many identifying assets on iPhones.
- Companies create unneeded transaction friction because they cannot tell their good customers from the fraudsters.
Payfone utilizes its direct connections to the U.S. mobile operators (we are one of only two companies who have this access) to authenticate the mobile user and generate fraud risk intelligence. With these powerful tools, Payfone’s Transaction Verification Service can quickly help companies give legitimate customers a VIP experience and only apply friction to transactions from suspicious customers.
PAYFONE’S “NETWORK FINGERPRINT” AND MOBILE INTELLIGENCE
- Instead of using cookies that can easily be deleted, Payfone’s authentication relies on the same cryptology used to authenticate the SIM card. This strong authentication has never been hacked and can easily determine whether the session is being spoofed and whether the service has been suspended due to a lost or stolen device.
- Payfone uses this SIM‐based authentication as an input into our mobile identity engine, which maintains a persistent token (no PII) to manage an identity throughout all the normal lifecycle events, such as phone number changes, ports from one mobile operator to another, device and SIM changes, among other changes. In this fashion, Payfone can tell a client whether the same mobile user is returning no matter what changes they have made to their phone or mobile account.
- Once identity has been established, the client may query Payfone’s intelligence based on real‐time signals from the mobile operators and from clients tied into Payfone’s client network. Through this reciprocal intelligence model (give‐to‐get), Payfone can help broker trust when a company has no history with a mobile user.
- Clients currently using the Payfone Transaction Verification service report up to a 40% reduction in losses by only allowing access to verified mobile users.
PAYFONE INTELLIGENCE RETURNED
Payfone Signature• DEFINITION
Unique subscriber ID generated by Payfone
Authentication Code• DEFINITION
A unique, time‐bound, one‐time use Payfone generated value used to access Payfone APIs
Mobile Country Code• DEFINITION
The MCC tied to the mobile phone number
Fraud Status• DEFINITION
Indication of whether the mobile user is a known fraudster. This parameter incorporates elements from Payfone’s reciprocal intelligence network.
Status Index• DEFINITION
A string value based upon the StatusIndex calculation. StatusIndex obscures the values for Account Type, Account Role, Billing Type, and Account Status.
A recommendation on what type of experience (level of friction) that should be applied to the mobile user
Payfone Signature Tenure• DEFINITION
Length of time that the Payfone Signature has been consistently active
Phone Number Tenure• DEFINITION
Length of time that the phone number has been consistently active
Phone Number Velocity• DEFINITION
Number of times the subscriber has changed its phone number in past 90 days
Phone Number Status• DEFINITION
Ported status of the phone number
Phone Number Line Type• DEFINITION
The line type associated with the subscriber, including mobile, landline, VOIP and other
Mobile Operator Name• DEFINITION
Name of the mobile operator
Mobile Operator Tenure• DEFINITION
Length of time that the phone number has been consistently active on the mobile operator
Mobile Operator Velocity• DEFINITION
Number of times the subscriber has ported in the last 90 days
ADDITIONAL INTELLIGENCE RETURNED WITH CONSENT
Mobile Phone Number• DEFINITION
10‐digit number associated with the mobile account
Device Tenure• DEFINITION
Length of ownership of current device
Device Velocity• DEFINITION
Number of times the subscriber has changed their device in the last 90 days
SIM Tenure• DEFINITION
Length of ownership of current SIM card
SIM Velocity• DEFINITION
Number of times the subscriber has changed their SIM card in the last 90 days
Want to learn more how you can add mobile‐specific intelligence to sensitive transactions?