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Synchrony Financial and MassMutual Ventures Throw Strength Behind Payfone’s Leading-edge Technology; Investment Will Bolster Payfone’s Initiatives in the Retail, Insurance, and Healthcare Sectors

NEW YORK (February 13, 2018)Payfone, the world’s leading digital identity authentication network, today announced that it has raised $23 million to expand its user experience-enhancing cybersecurity services in the retail, insurance, and healthcare sectors. The funding round was led by an institutional investor with participation by premier consumer financial services company Synchrony Financial (NYSE: SYF); MassMutual Ventures, the venture fund of leading mutual life insurance company Massachusetts Mutual Life Insurance Company (MassMutual); Anil Aggarwal and Jonathan Weiner, the founders of Money20/20, Shoptalk and HLTH; and Andrew Prozes, the former global CEO of LexisNexis. The financing reinforces Payfone’s position as a new standard of digital identity authentication that enables enterprises to combat fraud, while enhancing the customer experience to accelerate revenue.

“Our research shows that by 2020, 2/3 of e-commerce sales will be conducted by adults under 40. This next wave of customers will be mobile-first and will expect transactions to be both fast and secure,” said Rodger Desai, Founder and CEO of Payfone. “The days of using quizzes, questions and one-time codes to verify identity are numbered. Payfone is ushering in a new world where authentication is instant, passive and continuous using the most advanced cybersecurity. Our mission is to help clients across the financial, retail, insurance, healthcare, and technology industries use authentication to not only thwart fraud but drive revenue.”

Click here to see Payfone’s conversion-boosting Identity Pre-Fill solution in action.

“Synchrony is committed to exploring emerging technology to better serve our partners and customers,” said Michael Hensinger, SVP and Senior Managing Director, Synchrony Ventures. “Our investment in Payfone enables Synchrony to deliver innovative mobile authentication solutions that will continue to improve the customer experience. We are excited to work with the Payfone team and continue our focus on eliminating friction from the authentication process for our customers.”

Related News: Payfone Partners with O2 to combat cyberfraud in the UK

“A positive customer experience doesn’t begin with a verbal identity challenge,” said Eric Emmons, managing director at MassMutual Ventures. “Payfone enables service providers across the financial, retail, insurance, healthcare and technology sectors to offer a frictionless mobile and online experience to their customers, which substantially improves conversion rates and dramatically reduces the cost of call center operations.”

Payfone’s contrarian approach to delivering cybersecurity that enhances the customer experience instead of hindering it has been adopted by many of the world’s largest companies, including 6 of the top 10 banks in the United States. In November, Payfone was named the #72 fastest growing technology company in North America by Deloitte and its patented passive authentication platform is currently a Consumer Protection category finalist in the Edison Awards, which recognizes groundbreaking and innovative solutions and products in the spirit of inventor Thomas Edison.

ABOUT PAYFONE
Payfone is the leading digital identity authentication network for the connected world. We are trusted by the world’s largest banks, insurers, brokerages and technology companies to enable effortless, omni-channel user experiences. It’s all done through our patented platform, which dynamically analyzes millions of signals against multiple authentication factors to generate our proprietary Trust Score for each digital identity—the only measure of digital trust of its kind on the market today. Learn more at payfone.com and https://www.linkedin.com/company/payfone.

ABOUT MASSMUTUAL VENTURES
MassMutual Ventures backs entrepreneurial companies that are transforming financial services and enterprise software through technology and business model innovation. Our key areas of investment include fintech, data analytics, cybersecurity, digital health and operations software. We lead or join investment syndicates into companies that are poised to create significant value through differentiated innovation and focused execution. MassMutual is the parent company of MassMutual Ventures. Learn more at www.massmutualventures.com.

Press Contact:
Yuka Yoneda
yyoneda@payfone.com
212.614.6927

We’re proud to announce that we’ve been named as a finalist in Consumer Protection category in the 2018 Edison Awards! Often described as “the Oscars of Innovation,” the Edison Awards, named after Thomas Alva Edison, recognizes and honors the world’s most groundbreaking innovations. Past winners include Apple, Intuit, 3M, Amazon, Motorola, Dyson, Nissan, and Lenovo.

Payfone is being recognized for our Instant Authentication for Mobile solution, which challenges the historical trade-off between security and effortlessness. Most forms of digital authentication make the user experience harder and slower (think annoying one-time text passcodes and easy-to-forget secret questions). Instant Authentication for Mobile disrupts this way of thinking by verifying consumers in a safe, secure way that is also fast and easy for the user. Learn more about Instant Authentication for Mobile here.

Related News: Payfone Partners with O2 to Combat Cyberfraud in the UK

All Edison Awards nominations were reviewed by the Edison Awards Steering Committee and the final ballot was sent to an independent judging panel comprised of more than 3,000 professionals from the fields of product development, design, engineering, science, marketing and education. Gold, silver and bronze award winners will be announced at the 31st Annual Edison Awards on Wednesday, April 11, 2018 in New York City. Marillyn A. Hewson, Chairman, President and Chief Executive Officer of Lockheed Martin Corporation, will be honored that night in the same ceremony as the 2018 Edison Achievement Award Winner.

Established in 1987, the Edison Awards recognizes and honors the world’s best innovations and innovators. The Edison Awards is a program conducted by Edison Universe, a non-profit 501 (c)(3) organization dedicated to fostering future innovators. For more information about the Edison Awards, please visit www.edisonawards.com

Digital identity authentication partnership to protect users against cyber hacks and account takeover attacks is first of its kind in UK

NEW YORK/LONDON (January 23, 2018) – Payfone, the world’s leading digital identity authentication company, and UK mobile network operator O2, today announced that they have signed a partnership contract to protect mobile users against cyber-hacks, account takeover attacks, SIM swap attacks, and other forms of digital fraud.

Payfone and O2 are launching this initiative to address the rapidly growing demand for mobile identity authentication services in the United Kingdom and Europe as more companies continue to realize the necessity of advanced multi-factor authentication solutions in the wake of increased incidences of digital fraud. The partnership leverages Payfone’s Instant Authentication for Mobile solution, which is already being used by 6 of the top 10 banks in the United States, allowing UK enterprises to be able to extend fast, secure and transparent authentication to their customers.

To learn why 6 of the top 10 U.S. banks already work with Payfone, click here for more information about Instant Authentication for Mobile.

“We are honored to partner with O2 to introduce a safer and more seamless digital world for mobile users in the UK,” said Rodger Desai, Chief Executive Officer, Payfone. “Payfone is already on track to authenticate 50,000,000 transactions per day in the United States, and extending our capabilities into the United Kingdom is a major milestone for us as we continue our expansion into 35 worldwide markets.”

Payfone’s patented next-generation solution works through something users already have—mobile phones. This allows companies to eliminate ineffective and vulnerable two-factor authentication methods like SMS one-time passcodes and knowledge-based authentication to safeguard their users against account takeover attacks and SS7 attacks while simultaneously making the user experience faster and easier. The service uses real-time authentication via O2 that works behind-the-scenes with no on-device software.

Danny Barclay, Head of Digital Commerce at O2, commented, “O2’s customer-led strategy has us working on numerous projects and programmes to protect businesses and consumers, by making every interaction as safe, simple and secure as possible. As the first UK network to provide these services, we are taking active steps to help reduce the incidences of digital fraud and protect our users’ Digital Identities.”

About Payfone | Delight users. Defeat hackers.
Payfone is the leader in mobile and digital identity authentication for the connected world. We are trusted by the world’s largest banks, insurers, brokerages and technology companies to enable effortless user experiences by instantly authenticating new user account openings, mobile and web logins, text and chat sessions, and inbound and outbound call center calls. It’s all done through our patented platform, which dynamically analyzes millions of digital signals against multiple authentication factors to generate our proprietary Trust Score for each mobile identity—the only measure of mobile and digital trust of its kind on the market today. Learn more at payfone.com.

About O2
Telefónica UK Limited is a leading digital communications company owned by Telefónica S.A. O2 is the commercial brand of Telefónica UK Limited and is the mobile network operator with the highest customer satisfaction in the UK according to Ofcom. With over 25 million customers, O2 runs 2G, 3G and 4G networks across the UK, as well as operating its nationwide O2 Wifi service. O2 has over 450 retail stores and sponsors The O2, O2 Academy venues and England Rugby. Read more about O2 at o2.co.uk/news.

Press Contact:
Yuka Yoneda
yyoneda@payfone.com

A 2,152-percent growth rate powered Payfone to the number 72 spot!

 

NEW YORK (November 9, 2017) – Leading digital identity authenticator Payfone today announced that it is a winner of Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. The New York City-based firm, which helps companies to protect their users and bottom lines with its patented technology that thwarts identity theft and mobile account takeover attacks, achieved a 2,152% growth in revenue between 2013 and 2016, making Payfone the 72nd fastest growing technology company in North America during that period. The win marks an important milestone for Payfone along its trajectory toward hitting 50,000,000 authentication events per day for Fortune 100 clients, including 6 of the top 10 U.S. banks, by year-end. Recent additions to Payfone’s client list include a leading cryptocurrency exchange, a rapidly growing luxury retailer, and one of the world’s largest insurance companies.

 

“We are absolutely thrilled to have ranked amongst the top 100 fastest growing companies on the prestigious Deloitte Technology Fast 500™ list,” said Rodger Desai, Chief Executive Officer of Payfone. “To be mentioned alongside game-changing companies like ClassPass and Foursquare is a testament to the Payfone team’s untiring commitment to helping enterprises protect their users against cyber fraud and our emergence as the new standard for identity authentication. This win will only serve as fuel for our team to keep innovating and pushing the bar higher in our mission to create a safer and friendlier digital world where companies and people can interact without fear.”

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“Being recognized on the Deloitte Technology Fast 500™ list is validation of our team’s hard work and passion for building a new paradigm for identity authentication – one that allows enterprises to protect their users while also delivering the best possible user experience,” said Tom FitzSimmons, Payfone’s Chief Financial Officer. “Our significant revenue growth is strong evidence that our patented next-generation technology is providing value for our clients and their users.”

 

For more than 20 years, Deloitte has recognized the fastest growing public and private technology companies in North America. The 2017 Technology Fast 500 Companies were judged based on revenue growth from 2013 to 2016, with median growth of 378 percent.

 

About Payfone | Delight users. Defeat hackers.
Payfone is the leader in mobile and digital identity authentication for the connected world. We are trusted by the world’s largest banks, insurers, brokerages and technology companies to instantly authenticate new user account openings, mobile and web logins, text and chat sessions, and inbound and outbound call center calls. It’s all done through our patented platform, which dynamically analyzes millions of digital signals against multiple authentication factors to generate our proprietary Trust Score for each mobile identity—the only measure of mobile and digital trust of its kind on the market today. Learn more at payfone.com.

 

About Deloitte’s 2017 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2013 to 2016.

 

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

 

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

 

Press Contact:
Yuka Yoneda
yyoneda@payfone.com
212.614.6927

One of the highly-anticipated iPhone X‘s most interesting new features is Face ID, the ability to unlock the phone using facial recognition software. But what would happen if your phone fell into the hands of an “evil twin” with nearly the same face as you? TIME Magazine reporter Aric Jenkins asked Payfone CEO Rodger Desai to weigh in:

But ultimately, you may not have to worry about an evil twin because other forms of authentication for the iPhone could emerge, according to Rodger Desai, CEO of mobile authentication provider Payfone. Technology that can recognize how you hold your phone and type can properly identify ownership, he said.

“The larger problem is fraud for when the twin will pretend it happened when it didn’t,” Desai added. “And just like a credit card, if I say it was fraud one time, the company will forgive. But do it three times in a row and they’ll cancel it.”

Read the full article at TIME

 

Related articles:

Payfone on track to authenticate 50,000,000 transactions a day for Fortune 100 clients, setting new standard for mobile identity authentication

Cyberattacks rely on the consumer and that’s a problem, says Payfone CEO Rodger Desai

Payfone Demonstrates How SMS Hijack Attacks Can Be Prevented at Mobile World Congress Shanghai

As data breaches create new opportunities for hackers, the identity authentication leader is seeing staggering interest from businesses looking to protect their users

NEW YORK, (September 12, 2017)Payfone, the world’s leading invisible multi-factor authentication solution, announced today that it is poised to reach 50,000,000 authentication events per day by year-end. The New York City-based firm helps companies to protect their users and bottom lines with its patented technology that thwarts identity theft and mobile account takeover attacks. Payfone delivers seamless and secure identity authentication for many of the world’s largest companies, including 6 of the top 10 banks in the United States. Recent additions to their client list include the leading cryptocurrency exchange, a rapidly growing luxury retailer, and one of the world’s largest insurance companies.

“Our mission is to be the new standard for mobile and digital identity authentication. The adoption of Payfone among the Fortune 100 means we are well on our way to achieving this goal,” said Rodger Desai, Chief Executive Officer, Payfone. “A key obstacle in further accelerating this standard has been the lack of harmony in the capabilities and data privacy frameworks of the US mobile operators. The mobile authentication taskforce that the US mobile network operators announced this past week is strong evidence that these partners are committed to supporting us for the long haul.”

Payfone pioneered the disruption of the multi-factor authentication industry by making a contrarian bet that a more secure form of identity authentication could be performed silently, without any intervention by the end-user (thus eliminating the opportunity for hackers to employ social engineering). Unlike other 2FA and MFA solutions, which require the user to enter passwords, send one-time SMS passcodes or answer knowledge-based questions, Payfone’s solution works invisibly in the background at the time of a transaction, allowing a more effortless experience for users that is simultaneously safer. The company architected partnerships with the top mobile carriers in the United States in order to build its robust analytics platform, which uses a combination of SIM card recognition, ground truth data sources and advanced algorithms to determine whether someone who is signing into an account is actually the user and not a fraudster.

About Payfone | Delight users. Defeat hackers.
Payfone is the leader in mobile and digital identity authentication for the connected world. We are trusted by the world’s largest banks, insurers, brokerages and technology companies to enable effortless user experiences by instantly authenticating new user account openings, mobile and web logins, text and chat sessions, and inbound and outbound call center calls. It’s all done through our patented platform, which dynamically analyzes millions of digital signals against multiple authentication factors to generate our proprietary Trust Score for each mobile identity—the only measure of mobile and digital trust of its kind on the market today. Learn more at payfone.com.

Press Contact:
Yuka Yoneda
yyoneda@payfone.com
212.614.6927

Desai will share insights into how the identity authentication leader, which is on track to authenticate 50,000,000 transactions a day for top banks, insurers, and cryptocurrency and high-tech companies in the U.S., is extending its capabilities internationally

SAN FRANCISCO (September 12, 2017) – Payfone, the world’s leading invisible multi-factor authentication company, announced that its chief executive officer, Rodger Desai, will be speaking today at Mobile World Congress Americas 2017 in San Francisco. Desai will be presenting at the event as part of a discussion entitled Global Mobile Connect deployments – showcasing successful commercial models and cross border initiatives at 2-3pm at the Moscone Center. The talk will highlight Payfone and Mobile Connect’s roles as pioneers in breaking down borders to extend the reach of its patented identity authentication technologies across the globe.

“As we’ve seen from recent events, seamless and secure identity authentication and the protection of data is more crucial now than ever,” said Rodger Desai, Chief Executive Officer, Payfone. “Payfone is on track to analyze 50,000,000 authentication events a day in the United States and now we’re breaking down borders to bring our patented technology to 35 worldwide markets.”

Produced by the GSMA in partnership with CTIA, the inaugural Mobile World Congress Americas conference will take place from September 12-14 in San Francisco. The event will feature a program of C-level speakers and leading industry experts. An estimated 30,000 people are expected to attend.

About Payfone | Delight users. Defeat hackers.
Payfone is the leader in mobile and digital identity authentication for the connected world. We are trusted by the world’s largest banks, insurers, brokerages and technology companies to enable effortless user experiences by instantly authenticating new user account openings, mobile and web logins, text and chat sessions, and inbound and outbound call center calls. It’s all done through our patented platform, which dynamically analyzes millions of digital signals against multiple authentication factors to generate our proprietary Trust Score for each mobile identity—the only measure of mobile and digital trust of its kind on the market today. Learn more at payfone.com.

Press Contact:
Yuka Yoneda
yyoneda@payfone.com
212.614.6927

The mobile identity authentication leader is showcasing how its next-generation mobile authentication solution thwarts SMS Hijacks while also providing a faster and frictionless user experience

SHANGHAI, CHINA (June 29, 2017)Payfone, the leader in mobile identity authentication for digital channels, kicked off Day 2 of Mobile World Congress Shanghai by demonstrating how its Instant Authentication for Mobile solution thwarts SMS Hijack and SMS-forwarding attacks. The company’s proprietary technology prevents these types of attacks by replacing easy-to-intercept OTPs for an enhanced user experience that is safer, frictionless and up to 10x faster.

The tradeoff between security and convenience is one that companies have always struggled with—how can experiences be made more secure without also making things more cumbersome for users? Payfone Instant Authentication for Mobile is security that actually increases convenience.

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Click here to view a side-by-side comparison of Payfone’s Instant Authentication for Mobile experience vs. a typical one-time passcode experience.

“SMS hijack attacks are a blaring wake-up call about the dangers of sending one-time SMS passcodes,” said Rodger Desai, Chief Executive Officer, Payfone. “Our Instant Authentication for Mobile solution prevents these types of hacks and moves towards the National Institute of Standards and Technology (NIST)’s recommendation to deprecate SMS one-time passcodes as a second factor of authentication.”

In addition to eliminating the risk of SMS Hijack attacks, Payfone’s Instant Authentication for Mobile solution allows users to avoid the clumsy back-and-forth process of using one-time passcodes. Payfone Instant Authentication for Mobile is the culmination of expertise gained from strategic relationships working directly with the United States’ top 4 mobile network operators and the fraud departments at the top banks in the U.S. The technology is already being utilized by some of the most forward-thinking companies in the United States.

In early June, Payfone was announced as the authentication provider for Zelle, the new mobile P2P payments platform formed the top 30+ banks in the United States. Zelle is protected by Payfone Instant Authentication for Mobile.

To learn more about Instant Authentication for Mobile, email sales@payfone.com.

About Payfone
Payfone is the leader in mobile and digital identity authentication for the connected world. We are trusted by the world’s largest banks, insurers, brokerages and technology companies to enable effortless customer experiences by instantly authenticating new user account openings, mobile and web logins, text and chat sessions, and inbound and outbound call center calls. It’s all done through our patented platform, which dynamically analyzes millions of digital signals against multiple authentication factors to generate proprietary Trust Scores for mobile identities—the only measure of mobile and digital trust of its kind on the market today. Learn more at payfone.com.

Press Contact:
Yuka Yoneda
yyoneda@payfone.com
212.614.6927

SHANGHAI, CHINA (June 28, 2017) – Mobile identity authentication leader Payfone marked its entry into the global market today by showcasing its “one-time passcode-killer” technology for the first time at Mobile World Congress Shanghai in Shanghai, China. Directly addressing the National Institute of Standards and Technology (NIST)’s recommendation to deprecate one-time SMS-based passcodes as a channel for second-factor authentication, Payfone’s Instant Authentication for Mobile replaces cumbersome and easily hackable one-time passcodes for a user experience that is easier, safer and up to 10x faster. The technology is already being utilized by top banks in the United States, with plans to expand to 35 new global markets.

“Effortlessness is one of the key KPIs that will decide the order of the next Fortune 100 list, but all too many companies are still sacrificing user experiences for the sake of security by using one-time passcodes,” said Rodger Desai, Chief Executive Officer, Payfone. “Payfone’s Instant Authentication solution overcomes this historical trade-off by replacing cumbersome OTPs for a user experience that is up to 10x faster. We invite attendees of Mobile World Congress Shanghai to meet with us at the GSMA Innovation City as we showcase the unparalleled speed and effortlessness of Payfone’s Instant Authentication technology to the public for the very first time.”

Visit Payfone at the GSMA Innovation City (Hall W3) during Mobile World Congress Shanghai from June 28-July 1 to see a demo of how much faster Payfone’s Instant Authentication for Mobile is compared to traditional OTP.

To learn more about Instant Authentication for Mobile, email sales@payfone.com.

About Payfone
Payfone is the leader in mobile and digital identity authentication for the connected world. We are trusted by the world’s largest banks, insurers, brokerages and technology companies to enable effortless customer experiences by instantly authenticating new user account openings, mobile and web logins, text and chat sessions, and inbound and outbound call center calls. It’s all done through our patented platform, which dynamically analyzes millions of digital signals against multiple authentication factors to generate proprietary Trust Scores for mobile identities—the only measure of mobile and digital trust of its kind on the market today. Learn more at payfone.com.

Press Contact:
Yuka Yoneda
yyoneda@payfone.com
212.614.6927

The mobile identity authentication leader is partnering with top mobile network operators to combat this dangerous scam

NEW YORK, NY (June 14, 2017)Payfone, the leader in mobile identity authentication for digital channels, announced today that it has secured a patent for a first-of-its-kind technology that thwarts SIM swap scams, one of the fastest-growing types of fraud plaguing consumers today. Payfone’s newly patented API-based solution detects and prevents SIM swap fraud by leveraging the company’s unique partnerships with the U.S.’s largest mobile network operators.

As the rate at which consumers engage with their banks, healthcare providers and retailers on mobile continues to grow, so does the sophistication of fraudsters and the tools at their disposal. SIM swap fraud is a dangerous new threat that has been robbing victims of their hard-earned savings and costing banks and other financial institutions billions of dollars. Payfone’s technology makes it impossible for hackers to complete these types of attacks. The API-based solution can immediately detect when a SIM card has been swapped and can notify the customer’s bank when this, or other high-risk/out-of-the-ordinary events occur. Because Payfone communicates in real-time with mobile network operators, it has the ability to know at any moment in time whether or not a SIM card has been swapped. Without Payfone, banks are flying blind—there is no way to detect when a customer’s SIM has been changed.

“We’re experts in mobile identity. We predicted that as chip cards rolled out in the U.S., fraudsters would attack two-factor solutions that secure banking, fintech and bitcoin services,” said Rodger Desai, Chief Executive Officer, Payfone. “Payfone’s newly patented mobile identity authentication solution thwarts these types of attacks before they can do harm by detecting suspicious SIM swaps as soon as they occur.”

SIM swap scams typically involve fraudsters impersonating customers in order to persuade customer service representatives to transfer the customer’s phone number to a new SIM card in the scammers’ possession. Once they have control of the customer’s phone number, the hackers then use it as a credential to take over the victim’s bank accounts. For more information about how SIM swap attacks work, read this report by Let’s Talk Payments.

While security is at the core of Payfone’s identity authentication tech, faster and more effortless user experiences are an additional benefit of the company’s behind-the-scenes authentication processes. Nine years ago, Payfone made a contrarian bet against more traditional digital security methods focused on blocking “bad actors”, instead focusing on a new approach that enables “good actors.” Until Payfone stepped in, the only options to prevent fraud involved ratcheting up security, having a massive call center to manage fraud, or purchasing dozens of tools designed to block fraudsters. These approaches aren’t only unsuccessful in terms of fighting hackers, they’re also detrimental to the user experience, which in turn eats away at businesses’ bottom lines.

“Consumers expect digital services to be effortless and secure. Yet security can often be cumbersome,” said David Birch, Global Ambassador, Consult Hyperion. “With new, cutting edge attacks such as SIM swaps, businesses need more and better security, which could mean more friction and therefore fewer customers. Payfone’s technologies deliver the security without the friction.”

Payfone takes a new approach based on positive rules; positive behavior and profiling good customers. As a result, Payfone processes over 10,000,000 transactions a day for the largest financial, healthcare and governmental organizations and is set to reach 50,000,000 transactions per day by year-end, enabling its clients to provide safer, faster and easier user experiences for their customers. The company’s proprietary platform processes millions of signals a day to authenticate and score transactions with unrivaled speed, safety and accuracy. Payfone’s investors include RRE Ventures, Opus Capital, Relay Ventures, Early Warning Services, American Express Ventures, Verizon Ventures, Rogers Venture Partners, BlueCross BlueShield Venture Partners, Andrew Prozes, Strauss Zelnick, Maclab Development Group and Transaction Network Services. Business Insider Intelligence recently highlighted Payfone’s recent round of funding as one of the 10 largest US VC-backed fin-tech deals of Q1 2017.

About Payfone

Payfone is the leader in mobile and digital identity authentication for the connected world. We are trusted by the world’s largest banks, insurers, brokerages and technology companies to enable effortless customer experiences by instantly authenticating new user account openings, mobile and web logins, text and chat sessions, and inbound and outbound call center calls. It’s all done through our patented platform, Lotus, which dynamically analyzes millions of digital signals against multiple authentication factors to generate proprietary Trust Scores for mobile identities—the only measure of mobile and digital trust of its kind on the market today. Learn more at payfone.com.

Yuka Yoneda
yyoneda@payfone.com
212.614.6927