June 10, 2017
Payfone Helps Streamline the Consumer Enrollment Experience while Bringing More Trust to Person-to-Person (P2P) Transactions
PR - NEW YORK, NY (June 9, 2017) – Payfone, a leader in mobile identity authentication for digital channels, today signed an agreement with Early Warning Services to provide mobile authentication technologies for Zelle (SM). Payfone risk assessment solutions will help streamline consumer enrollment and transaction authentication processes, enabling more consumers to take advantage of the speed and simplicity of person-to-person (P2P) payments.
Payfone’s solutions will significantly simplify the enrollment processes for millions of Zelle P2P users, while adding another layer of non-intrusive protection behind-the-scenes for Zelle, said Eric Woodward, group president of the Risk Solutions business at Early Warning. Payfone brings together data from across the mobile ecosystem – networks, devices, users – to help us assess enrollment and transaction risk almost instantly. This helps us balance the requirements for speed and security in the faster payments space.
"Faster payments require instant mobile authentication, which Payfone is uniquely positioned to provide, said Rodger Desai, CEO, Payfone. Collaborating with Early Warning to help add further seamless security to Zelle is a shining example of how Payfone makes customer transactions safer and smoother."
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 analytics engine 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.
Payfone is the leader in mobile identity authentication solutions for the connected world. Payfone breaks down barriers for top financial, governmental, healthcare and tech companies, creating more welcoming and effortless customer experiences. Learn more at payfone.com.
About Early Warning
Creating the Future of PaymentsTM - Early Warning delivers innovative payment and risk solutions to financial institutions nationwide. For over 25 years, Early Warning has been a leader in technology that helps money move easier, faster, and safer. Learn more at earlywarning.com.