Insights & Analyses

Press release: Payfone on track to authenticate 19 billion transactions for Fortune 100 clients in 2018

March 27, 2018

Payfone, the world’s leading digital identity authentication network, announced today that it expects to authenticate 19 billion transactions for Fortune 100 clients in 2018. The announcement was made this morning at OWI’s 2018 KNOW Identity conference at the Ronald Reagan Building and International Trade Center in Washington, D.C.

Payfone’s patented technology helps companies to protect users and accelerate revenue by thwarting digital fraud attacks while also enabling faster and more effortless user experiences. The New York City-based company delivers omni-channel identity authentication for some of the world’s largest banking, insurance, healthcare, retail and technology companies.

“Data breaches, account takeover attacks, fake news, and ad bots – we need to wake up and see that the current model of identity authentication is broken.” said Rodger Desai, CEO of Payfone. “Payfone is establishing a new standard of real-time, dynamic identity authentication that replaces the hackable, static framework that all too many enterprises still rely on. The fact that we’re on our way to doing 19 billion authentications for forward-thinking Fortune 100 companies this year is evidence that a new era is coming.”

Payfone was honored by Deloitte’s Fast 500 as the No. 72 fastest growing technology companies in North America in November of 2017. In February, the company announced that it raised $23 million from financial and strategic investors to continue its global expansion of the Payfone digital identity authentication network.

KNOW Identity conference attendees are invited to join Payfone CEO Rodger Desai for a panel discussion this afternoon at 1:30pm entitled Beyond Authentication in Financial Services: Shifting Security from Defense to Offense. Conference-goers looking to do some work, charge their devices or hold meetings are also welcome to stop by the Payfone #PasswordsSuck Business Lounge located in the Meridian suite just a few steps from the Green and Yellow panel rooms.