Los Angeles – October 19, 2011 – TeleSign, a market leader in Internet fraud prevention and web-based user identification, access, and authentication services, today announced the next generation of its PhoneID solution, which helps online businesses automate fraud prevention using phone data. PhoneID 2.0 provides increased ability to detect suspicious telephone numbers, which enables web-based companies to better identify and stop Internet fraud and spam, in a way that is easy to implement, automated, and cost-effective.
With the inescapable use of the Internet for retail, financial transactions, and access to sensitive personal data, cybercrime is increasing and web-based organizations require a way to minimize online fraud. The new PhoneID 2.0 provides a 65% increase in the granularity of information, resulting in more accurate fraud prevention. In addition, the service now supports telephone portability for all North American Numbering plan countries, increasing data accuracy.
“Fraudsters and spammers are always finding new ways to scam online businesses and their customers, and TeleSign constantly works to stay one step ahead of them,” said Charles McColgan, CTO, TeleSign. “Our new PhoneID product demonstrates TeleSign’s ongoing commitment to continuous improvement and will be even more effective at preventing bulk account registrations and securing ecommerce transactions for our clients.”
TeleSign’s patented PhoneID product provides information about a phone number, including registration location information and phone type. With this information companies can identify anonymous, location-independent telephone numbers and block or flag these users. Since higher rates of fraud are associated with these types of numbers, PhoneID enables companies to incorporate a frictionless, yet powerful fraud prevention method into their security strategy.
“Using TeleSign’s PhoneID with Telephone Verification, we saw a 99% reduction in chargebacks, and reduced our manual review cost by 80%, which resulted in over $70,000 in savings since implementing TeleSign solutions in August 2011,” said Vincentas Grinius, Co-founder and CEO, Host1Plus.com.
PhoneID is deployed by some of the largest websites in the world, analyzing phone numbers in more than 200 countries. In addition to phone type information, PhoneID returns phone number characteristics including city, state/province, postal/zip code and country for US and international phone numbers.
TeleSign is a market leader in Internet and Cloud fraud prevention and web-based user identification, access, and authentication services. TeleSign services provide an easy-to-implement and powerful method for identifying and substantially reducing online fraud and spam using the most widely deployed technology available worldwide — a user’s phone. TeleSign serves organizations of all sizes including some of the world’s largest and most prominent web businesses. The company has executed more than one billion authentication and verification transactions in more than 200 countries and over 50 languages. TeleSign guarantees enterprise-level uptime and provides industry-leading global deliverability rates.
For more information about TeleSign, visit www.telesign.com