Payfone Unveils “One-Time Passcode-Killer” Technology at Mobile World Congress Shanghai 2017

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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.”
 
 

Which mobile app experience would you rather have?

 
 
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 www.payfone.com.
 
 
Press Contact:
Yuka Yoneda
yyoneda@payfone.com
212.614.6927