Global eCommerce and consumer web businesses often struggle to identify fraud because of the lack of reliable fraud signals available.
Realizing this, TeleSign, a company engaged in Internet fraud prevention and Intelligent Authentication solutions, has recently launched the PhoneID suite, which provides actionable data to online businesses to verify if a phone number is active and reachable.
Fraudsters most of the time enter wrong information into online forms but organizations fail to validate this information. The newly announced PhoneID Live provides the organizations an extra layer of validation by returning the subscriber and device status associated with a user's phone.
In case the data returned for the phone is estimated to be inactive, the other information on the form is also likely to be suspect.
With the help of this critical data points, merchants will be able to identify whether to accept, deny or challenge an online order or registration and authenticate these users.
"For companies hampered by inadequate actionable data, these data points serve as robust fraud signals for businesses without impacting the user experience", said Jon Oltsik, Senior Principal Analyst, ESG.
In a statement, Stacy Stubblefield, co-founder and VP Product Strategy, TeleSign, said: "With the growth of global commerce, organizations need additional ways to authenticate information provided by users in online forms."
"PhoneID Live delivers the most accurate information about a phone number on an international scale making it easier for a merchant to mitigate fraud in an efficient and effective manner."
In related TMC (News - Alert) news, TeleSign has recently entered into a partnership agreement with Deepnet Security, a company that provides multi-factor authentication and identity management solutions.
Edited by Brooke Neuman