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Payfone is the worlds 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.
Prove (formerly known as Payfone) offers digital authentication solutions that enable banks, insurers, brokerages, and technology companies to tackle fraud and improve customer experience. The platform analyzes millions of signals against multiple authentication factors to generate a trust score for each digital identity. Recently, the company was listed in the 100 Fastest Technology companies in North America by Deloitte's 2017 Technology Fast 500™.
Prove offers a range of products like: 1. Instant Authentication for Mobile: Prove APIs that can identify new and existing users through their mobile numbers. 2. Instant Authentication for Voice: Prove APIs that can identify new and existing users through mobile calls. 3. Instant Link for Web: Can authenticate web interactions on PC, thereby eliminating critical SMS OTP vulnerabilities like SMS phishing, SMS forwarding, eavesdropping, and SS7 attacks. 4. Identity Pre-fill: Enables users to extract pre-verified information about customers from verified sources. 5. Trust Score: Analyzes digital signals from multiple sources in order to verify customers. 6. Fonebook: Fonebook is a framework for digital identity that links customer IDs with anonymous identity tokens in order to authenticate digital transactions.
The company charges a percentage fee for every transaction done via its platform.
It has major customers from sectors like retail
finance and technology industries.
The company has partnerships with mobile network operators like O2
etc. Other partners include Cardinal Commerce
AmEx. and Early Warning.
$270 M in 2019
According to third party sources, the company has valuated at $270 Mn in the last series round.(April 2019)
The company claims it has achieved 2,152% growth in revenue between 2013 and 2016.
The company is hitting 50 million authentication events per day for Fortune 100 clients. It is estimated to authenticate 19 billion transactions by the end of the year. (March 2018)
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