NEW YORK (January 24, 2019) – Payfone, the world’s leading digital identity authentication network, today announced the launch of the Trust Platform, a first-of-its-kind digital authentication platform. The Trust Platform enables enterprises to increase customer satisfaction with faster, frictionless and fraud-free customer experiences across all channels.
Payfone developed the Trust Platform to address a major challenge for leading financial, healthcare, technology, retail and insurance companies. Currently, a ‘trust gap’, a void in real-time identity information, forces businesses to treat all of their customers with increased suspicion and friction.
The Trust Platform enables forward-looking enterprises to finally overcome the tradeoff between security and user experience by leveraging Payfone’s patented, deterministic technology. Key elements which efficiently close the ‘trust gap’ include a tokenized Payfone ID, an enterprise-specific Fonebook, and the Payfone Trust Score, a real-time number which quantifies the level of confidence in a consumer’s identity. The Trust Score allows brands to deliver a VIP express lane experience to over 90% of their customer base by confidently answering the critical question, “Is this customer who they claim to be?”
“We believe that Trust is the new KPI which will reshuffle the Fortune 500,” said Rodger Desai, Founder and CEO of Payfone. “Companies who figure out how to trust more people online and transact with them quickly and conveniently are going to grow more rapidly than those who don’t. That’s what we deliver through our Trust Platform and award-winning Trust Score.”
Desai commented that “the bottom line is that the Payfone Trust Platform facilitates commerce by making it easier for consumers to do business with brands, and easier for enterprises to provide an optimal user experience to the vast majority of their customers.”
Payfone is the world’s leading digital identity authentication network. Our award-winning next-generation Trust Platform validates identities and enables enterprises to deliver fast, frictionless, and fraud-free customer experiences to over 90% of their customers. Payfone closes the ‘trust gap’ and issues a real-time proprietary Trust Score for 6 of the top 10 financial institutions, and leading healthcare, insurance, technology and retail companies. Learn more at payfone.com and linkedin.com/company/payfone.