Mobile ID service will help consumers and businesses eliminate passwords, simplify login, and enhance online security and privacy
NEW YORK and TORONTO, June 18, 2018 /CNW/ -- Payfone, the world's leading digital identity authentication company, and EnStream, a joint venture of Canada's leading national mobile telecom companies, today announced they are extending their partnership to create a next-generation, mobile-based federated authentication service that increases convenience for consumers without sacrificing security and privacy.
"Consumers have too many passwords, or re-use the ones they have too many times, increasing the risk of identity theft and account takeovers by hackers," said Rodger Desai, CEO of Payfone. "Two- factor authentication helps, but it's clumsy and complicated, and doesn't really deal with the underlying problem—passwords. Wouldn't it be great if online identity worked like credit cards—ultra-convenient and trusted by everyone, everywhere?"
The new service, to be available initially in Canada, will allow consumers to log into accounts or verify transactions with any participating online service using a single mobile app on their phone. Backed by participating mobile network operators, the service will bring together EnStream's consumer-friendly Mobile Connect solution with Payfone's Trust Score identity and fraud analytics solution, which is currently used by Fortune 100 banks, retailers, health insurance companies, and others.
How Payfone and EnStream's Mobile ID service will benefit consumers and enterprises:
- Convenience: Replaces passwords and clumsy two-factor authentication methods.
- Security: Unlike other "over-the-top" services, online connections will be automatically secured if a phone is reported lost or stolen. No personally identifiable information will be stored on the phone.
- Privacy and Transparency: Provides consumers information and control over where and how their digital identities are utilized.
- Brand Continuity: Participating online services will be able to incorporate their own branding into the app to ensure an experience that is branded end-to-end.
"Login with your phone will one day become as ubiquitous as being able to use your credit card anywhere you shop," said Robert Blumenthal, EnStream's Chief Identity Officer. "But it has to be much easier to use and much more secure than SMS passcodes to be trusted by online services and consumers alike. We provide device-based security enabled with a secure PIN or biometrics, enhanced by real-time mobile network verification and fraud analytics to protect your identity."
Payfone is the leading digital identity authentication network for the connected world. The world's largest banks, insurers, brokerages and technology companies trust Payfone to accelerate revenue by thwarting digital identity theft with real-time, passive identity authentication and predictive identity confidence through our proprietary Trust Score. Our solutions enable consumers and businesses to transact with each other with trust. Learn more at www.payfone.com and https://www.linkedin.com/company/payfone.
EnStream is a joint venture of Canada's leading mobile telecom companies – Bell Mobility, Rogers Communications and TELUS Communications – that provides identity verification and authentication services for 3rd party applications. Intended for banks, credit bureaus, insurance companies, government, utilities and many others, these services can help provide timely and accurate verification of mobile subscriber identity and related account and service information, with end-user consent, as a means to enhance user convenience and reduce identity theft and fraud. For more information, please visit www.enstream.com.