Payfone receives funding from Bank Consortium Early Warning Services

NEW YORK, Oct. 29, 2013 /PRNewswire/ -- Payfone, a leading mobile authentication company, has accepted an equity investment and commercial agreement from Early Warning Services.

Early Warning will join existing strategic investors such as American Express, Verizon Wireless and Rogers Communications, as well as leading venture firms. Payfone provides secure mobile authentication services that enable businesses such as banks and enterprises to confirm that consumers are who they say they are when accessing digital services. Payfone does this by leveraging the global GSMA and CDMA authentication standards that mobile operators use to secure their own networks.

"With this investment and commercial agreement, Early Warning and its owner banks have demonstrated their support for Payfone's secure mobile authentication capabilities. These mobile security capabilities are essential to keeping consumers safe in an increasingly mobile-centric world," said Payfone CEO Rodger Desai. 

About Payfone
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. For more information, visit www.Payfone.com

About Early Warning
For more than two decades, Early Warning Services LLC has created actionable intelligence to help financial organizations fight fraud, isolate and manage risk, and remain compliant to protect the entire financial system. The company is owned by Bank of America, BB&T, Capital One, JPMorgan Chase and Wells Fargo, but works with financial institutions of all sizes as well as with government agencies, payment processors and check acceptance companies. Early Warning offers a unique view of the financial system that enables clients to manage risk and take appropriate action at the earliest point of detection. For more information, visit www.EarlyWarning.com.

Media Contact:
 Payfone Inc.
Amy E Masters
[email protected]
908.229.8445

SOURCE Payfone