Bling Nation Chooses Phone Factor for Validation
Bling Nation Chooses PhoneFactor to Validate Consumers' High-Ticket Items and Suspicious Transactions
Community Payment Service Offers an Unprecedented Level of Transaction Security to Their Customers
OVERLAND PARK, KS -- (Marketwire) -- 04/28/09 -- PhoneFactor, a leading provider of security products and services, today announced that Bling Nation has selected its phone-based authentication technology to protect bank customers from fraud and identity theft.
Bling Nation provides a Community Payments Service for community banks. Through this service, Bling Nation enables financial institutions to more profitably and securely support payments between their local demand deposit account (DDA) customers and their merchant customers by bypassing the current global debit payment model and replacing it with an efficient, cost-effective and local payment network.
That's where PhoneFactor comes in. One of Bling Nation's key fraud prevention features is to have consumers validate high-ticket and suspicious transactions through PIN entry on their phone before transactions are authorized. PhoneFactor enables this two-factor authentication on consumers' mobile phones by having them authenticate not only the specific transaction, but also the amount. This advanced protection can be added to retail transactions as well as ecommerce and online banking transactions. In an online transaction, out-of-band transaction verification is critical for defeating man-in-the-middle attacks and keystroke loggers.
Puneet Agarwal, COO of Bling Nation, said they chose PhoneFactor because of the company's focus and expertise providing two-factor authentication for financial services applications.
"PhoneFactor also has a robust, highly reliable technical product, and the people are open to working with us to customize the solution for an easy and friendly customer experience," Agarwal said.
About PhoneFactor
PhoneFactor is a simple two-factor authentication service that provides far greater security than usernames and passwords. The award-winning service can use any phone (mobile or landline) as a second form of authentication. PhoneFactor can be setup in minutes and eliminates the need for tokens, smart cards or certificates. Learn more at www.phonefactor.com.
About Bling Nation
Bling Nation provides a local payment network, which allows banks to convert potential on-us debit transactions into actual on-us debit transactions by offering consumers secure contactless payments at the point of sale. Bling Nation's proprietary technology enables transactions to be processed more efficiently than a traditional credit or debit card network, delivering value for the bank, merchants and consumers through its Community Payments Service. For additional information, visit www.blingnation.com.
Company Contact:
Alison Hill
913.499.4146
