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During the last week of October, Payfone was onstage multiple times at Money 2020, one of the largest conferences where the financial services industry congregates to connect and create the future of money. During the event, we had a chance to engage with our customers, meet with partners and new prospects, and take part in key industry conversations. Payfone’s CEO, Rodger Desai spoke with industry leaders in two fireside chats about relevant topics – the customer experience, Pass Rates and Trust Scores.

Rodger joined Carol Juel, Synchrony’s EVP and CIO, to discuss the merging of physical and digital worlds to ensure fast and easy payments and the new ways the transformation of the payments industry will have on consumers and businesses. The discussion revolved around how trust is at the core of delivering fast, easy and secure customer experiences and the importance of pass rates. During this chat, Carol referenced Synchrony’s partnership with Payfone with complimentary shout-outs “Payfone is a shining example of how work gets done” and “the opportunity to work with Payfone brings trust to another level.”  Thank you, Carol!

Rodger was joined onstage for a fireside chat with Mastercard’s Rob Carter, Director, Product Development & Innovation, Cyber & Intelligence Solutions, about “The Trust Gap” whereby approval rates of card not present transactions are 25% lower than card present transactions. The discussion revolved around this phenomenon that hinders the customer experience, stunts revenue and increases operating costs. Practices that enterprises can follow to reverse this Trust Gap were discussed.

To learn more about how to close the Trust Gap and leverage the Trust Score™, please visit: 

https://info.payfone.com/create-digital-trust-with-identity-verification

Did you KNOW?

  • The fear of identity fraud creates a Trust Gap between your best customers and your brand.
  • These fears can drive enterprises to build friction into the customer experience, driving higher OPEX, lower customer satisfaction, depressed conversions and lower LTV.
  • It is time to reverse this trend. It is time for Trust.
  • How? The trade-off between security and customer experiences is no longer necessary. Enterprises can achieve higher pass rates to greenlight more customers without step-up authentication.
  • Results we have achieved for enterprises are >80% pass rates (compared to 40% before Payfone) with higher approval rates. Costs to authenticate have dropped from $20/year/customer to $1.00/year/customer.
  • Payfone leverages signals from authoritative verifiers to prove definitive identity and thwart account takeover and synthetic identities.

How can you benefit from this?

If your company is looking for higher conversions, higher engagement, higher margins, and customer loyalty, contact us to discuss a proof-of-concept pass rate study.

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