Under the deal, PhoneFactor’s phone-based authentication option is set to be integrated into New York & Company, Uno Chicago Grill and Party City’s platforms to ensure user authentication and credit card data protection services via a mobile device.
How it works
PhoneFactor’s authentication service is set to check the customer’s identity by placing an automated call to the online banking user during the login process. To complete the login, the user has to answer the call and enter a PIN on the phone keypad. In addition, PhoneFactor can also verify specific online transactions.
More recently, PhoneFactor has entered a partnership with Fundtech, a US provider of financial software products and services, to provide additional security for online banking logins and transactions.
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