SHANGHAI, June 27, 2017 /PRNewswire/ -- Mobile identity authentication leader Payfone announced today that it will be marking its entry into the global market by showcasing its patented "one-time password-killer" technology for the first time at Mobile World Congress Shanghai from June 28-July 1 in Shanghai, China. Directly addressing the National Institute of Standards and Technology (NIST)'s recommendation to deprecate SMS-based passcodes as a channel for second-factor authentication, Payfone's Instant Authentication for Mobile solution replaces cumbersome and easily hackable one-time passwords for a user experience that is easier, safer and up to 10x faster. The technology is already being utilized by top banks in the United States, with plans to expand to 35 new global markets.
"Effortlessness is one of the key KPIs that will decide the order of the next Fortune 100 list, but all too many companies are still sacrificing user experiences for the sake of security by using one-time passwords," said Rodger Desai, Chief Executive Officer, Payfone. "Payfone's Instant Authentication solution overcomes this historical trade-off by replacing cumbersome OTPs for a user experience that is up to 10x faster. We invite attendees of Mobile World Congress Shanghai to meet with us at GSMA Innovation City as we showcase the unparalleled speed and effortlessness of Payfone's Instant Authentication technology to the public for the very first time."
Visit Payfone at the GSMA Innovation City (Hall W3) during Mobile World Congress Shanghai or visit Payfone.com to see a demo of how much faster Payfone's Instant Authentication for Mobile is compared to traditional OTP.
Payfone is the leader in mobile and digital identity authentication for the connected world. We are trusted by the world's largest banks, insurers, brokerages and technology companies to enable effortless customer experiences by instantly authenticating new user account openings, mobile and web logins, text and chat sessions, and inbound and outbound call center calls. It's all done through our patented platform, which dynamically analyzes millions of digital signals against multiple authentication factors to generate proprietary Trust Scores for mobile identities—the only measure of mobile and digital trust of its kind on the market today. Learn more at www.payfone.com.