Mobile Identity Meets Smart Authentication
Payfone is a leader in secure mobile authentication. Payfone's suite of network authentication services provides unparalleled mobile security while eliminating friction from the customer experience. The company is backed by leading venture firms, financial institutions and wireless carriers and is based in New York.
Follow Payfone on Twitter @Payfone.
Payfone, a leading mobile authentication company, has accepted an equity investment and commercial agreement from Early Warning Services.
Early Warning, a trusted leader in fraud prevention and risk management, has taken steps to dramatically advance the state of mobile authentication technologies. Through an equity investment and commercial agreement with Payfone, a leading mobile authentication company, Early Warning will now provide carrier-based device and account owner identity authentication combined with unrivaled financial transaction and identity data, ensuring a secure and seamless mobile experience for financial services customers.
Payfone, the leading mobile commerce company, today announced limited availability of 1 Touch Checkout™, a new mobile commerce checkout solution that connects shoppers’ mobile identities with their payment instruments to enable the easiest, fastest and most secure mobile commerce checkout experience possible. Payfone also announced that CardinalCommerce has joined the Payfone Ecosystem as its channel partner. The company will roll out Payfone’s solution to a network of merchants to accelerate the widespread adoption of this new approach to mobile commerce.
CorFire™, the mobile commerce business of SK C&C USA and the industry-leading mobile technology expert, and Payfone, a remote mobile commerce company, today announced plans to integrate CorFire’s mobile wallet application, CorPay™ with Payfone’s remote mobile commerce solution. This partnership will enable merchants to deliver fast and secure solutions without compromising security or the consumer experience.
Payfone, a remote mobile commerce company, today announced it has been chosen by AlwaysOn as one of the OnMobile Top 100 winners.
Mobile Commerce is growing over 100% every year and is a great opportunity for driving revenues for merchants.
Payfone announced the appointment of Paul Tocatlian to its management team as VP of Engineering. In his role, he will continue to fuel the on-going growth in remote payments.
Rodger Desai, co-founder and CEO of Payfone, a leading remote payment processing service, speaking at the 2012 Mobile World Congress last week in Barcelona, Spain, predicted that mobile commerce will surpass eCommerce in this decade.
Payfone, a leading remote payment processing service backed by American Express, Verizon, Rogers Communications and several leading venture capital firms, announced the appointment of four payment industry executives to its management team to fuel on-going growth and expertise in remote payments.
At the Mobile Payments Conference, Payfone Co-Founder and CEO, Rodger Desai will be speaking during a session entitled "It's All About the Transaction".
More than 50 percent of U.S. consumers still worry about the security of their data during online purchases, recent polls show, and for good reason. A newly released infographic from Payfone illustrates how, despite new security solutions on the market - RSA tokens, device fingerprinting, SMS - Internet security issues persist that not only make consumers vulnerable to fraud, but increase friction.
The infographic organizes customer data into four “graphs” – Social, Knowledge, Payment and Interest – that when matched up to KPI’s can help marketers prioritize the information most important to meet their goals.
After years of talk about enabling customers to pay for goods with their mobile phones, technology companies are planning a number of pilots to make this possible – both in stores and online.
By linking network credentials such as the IP address, SIM card attributes, and location information from a mobile handset to a payment card account, Payfone can expedite the mobile commerce experience for shoppers by reducing the data entry at checkout to a payment card’s security code.
Prakash Hariramani of Payfone uses the word pain a lot in discussing mobile payments. Time will tell if his company's new mobile service will be a cure. "We feel the mobile payment process is very painful," says Hariramani, Payfone's vice president and head of product. Payfone's new payment product, 1 Touch Checkout, uses mobile identity to directly execute electronic payments while shopping. The company hopes that will improve the user experience by removing some navigation steps.
US-based mobile payment processing company Payfone has launched 1 Touch Checkout, a mobile commerce checkout service that connects shoppers' mobile identities with their payment instruments. Payfone has also signed a partnership agreement with US alternative payments services provider CardinalCommerce.
Payfone has announced '1 Touch Checkout', a "new mobile commerce checkout solution that connects shoppers’ mobile identities with their payment instruments to enable the easiest, fastest and most secure mobile commerce checkout experience possible." Payfone also announced that CardinalCommerce has joined the Payfone Ecosystem as its channel partner.
Payfone's new payment product will help users eliminate navigation steps and let them more quickly make electronic payments while shopping, says Vice President Prakash Hariramani. Investors include American Express, and the 1 Touch Checkout will be tested this fall in an effort to improve mobile payment use.
By the end of a Finovate, our brains go numb, one demo melds into the next, and we can’t quite remember what happened on Day 1. And we include the night of Day 1 in that.
Payfone, a mobile commerce company, is launching 1 Touch Checkout, a new mobile commerce checkout solution that connects shopper's mobile identities with their payment instruments (view press release). The solution is designed to give users a secure mobile commerce checkout experience. 1 Touch Checkout is a patent-pending solution that creates a streamlined mobile commerce checkout process by securely authenticating transactions through bank and carrier networks. A shopper's identity is tied to a mobile phone number, to simplify the checkout process while adding security to mobile shopping.
Backers hope the service will boost mobile commerce conversion rates. With all of the attention retailers put on mobile commerce as the number of smartphones and tablets in consumers’ hands continues to rise, one nagging metric haunts them. Mobile commerce conversion rates lag behind e-commerce rates, an average of 1.59% for m-commerce compared with the 3.18% e-commerce average rate, according to the Internet Retailer Mobile 300 and Top 500 guides. One culprit may be the cumbersome requirement to enter a 16-digit payment card number along with billing and shipping addresses.
US-based mobile payment processing company Payfone has made 1 Touch Checkout available, a new mobile commerce checkout service that connects shoppers’ mobile identities with their payment instruments. Payfone has also partnered with US alternative payments services provider CardinalCommerce.
New York-based m-commerce company Payfone today announced the release of a new mobile payments solution, 1 Touch Checkout, on a limited basis. Payfone also announced Cleveland-based payment transactions firm CardinalCommerce as its first channel partner.
Shopping, even for major items like a wedding dress, is now something people do while strolling through the park. In 2011, U.S. mobile commerce sales surged 91.4%. By 2015, analysts estimate total mCommerce sales will reach $31 billion - a 363% increase from 2011. Many retailers are investing heavily to respond to this opportunity, yet there is still a major disconnect between consumer expectation and experience. Mobile commerce is seeing a 69% shopping cart abandonment rate, which equates to a massive missed opportunity for merchants.
Have you ever ordered a pizza while walking down the street and had it delivered by the time you got home? According to Forrester Research, mobile purchases are expected to generate $31 billion by 2016, a 39 percent growth from 2011. Since a large portion of mobile purchases will not be in-store, but rather "remote commerce," you need to think about how you not only drive traffic to your mobile site or app, but how you increase mobile conversion rates and take a piece of this growing sales channel.
Payfone is featured in a recent article by Paybefore.com. Read more from the story: Everyone is talking about it. Mobile is changing payments. What experts don’t necessarily agree on, however, is what the competitive landscape, or even the value chain, will look like in the future. Who (and which technology) will be the winners? Who will be the losers?
Board of Directors
A mobile and consumer marketing veteran with more than 20 years ofn operating experience, Bob Borchers comes to Opus Capital from Apple, Inc., where he served as Senior Director of... Full Bio
Mike Brody is a co-founder of Payfone and was the company's head of finance and head of product. Prior to Payfone's formation, Mike was an Entrepreneur-in-Residence at RRE Ventures. Full Bio
Rodger Desai is Co-Founder and Chief Officer of Payfone, Inc. Previously, Rodger served as co-founder and CEO of Rave Wireless, Inc. Rave's service is now deployed at over 300 universities. Full Bio
Stuart Ellman is Co-Founder & Managing Partner of RRE Ventures. He has been immersed in information technology since the early 1980s, when he taught himself computer programming.Full Bio
Former CEO, First Data Corp
Charlie Fote is the former Chairman and Chief Executive Officer of First Data. Mr. Fote had executive management responsibility for the overall strategy and operations of... Full Bio
Kevin is Co-Founder and Co-Managing Partner of Relay Ventures, an early stage venture fund exclusively focused on mobile software. Kevin has been an entrepreneur, operator and investor in both Canada and the USA for over 20 years.Full Bio
Chief Corporate Development Officer
Eric Woodward is chief corporate development officer for Early Warning, facilitator of information sharing between financial institutions to enable a collaborative, comprehensive view of industry fraud. He provides strategic analysis...Full Bio
Request more information todayContact our team