TeleSign Expands Intelligent Authentication Product Suite with PhoneID Contact
TeleSign, the market leader in and Intelligent Authentication, announced the newest product in the PhoneID suite, which helps real-time fraud prevention for online businesses by delivering name and address details based on a phone number.
Online, August 28, 2012 (Newswire.com) - TeleSign, the market leader in Internet fraud prevention and Intelligent Authentication, announced the newest product in the PhoneID suite, which helps online businesses block fraud by delivering name and address details based on a phone number. PhoneID Contact enables online merchants and consumer web services to determine the risk level of a transaction in real-time, resulting in reduced fraud and increased revenue.
The growth and convenience of eCommerce and consumer web services have opened up the door for rampant fraud. Businesses struggle to verify the identities of their customers with limited pieces of information. PhoneID Contact returns name and address, phone type (e.g., prepaid mobile, VoIP, landline, etc.), registration location information, and an auto-corrected phone number. Access to this data enables merchants to make real-time decisions, blocking fraud before it results in lost revenue.
PhoneID Contact paired with TeleSign Verify, which sends a one-time code to the user's phone, automates the fraud screening process and ensures that the customer is in fact linked to the phone number used during the transaction. This results in a significant decrease in fraud and increased operational efficiency.
"With the growing number of online users, it is necessary that merchants have access to correct data to determine the level of risk associated with online transactions," said Charles McColgan, CTO, TeleSign. "Leveraging multiple data sources, PhoneID Contact delivers unparalleled match rates on returned name and address data, enabling businesses to quickly flag or block fraudulent activity."
For more information on TeleSign's PhoneID Contact and other identity authentication services, call +1-310-740-9671 or visit www.telesign.com
About TeleSign
TeleSign ranked #15 on the Deloitte Technology Fast 500™ specializes in online fraud detection and protection for different industry domains. TeleSign offers a range of products for identity verification, fraud detection and identity authentication. TeleSign protects 2.5 billion downstream users in more than 200 countries, offering localization services in 87 languages.