TeleSign Links With Telefonica To Reduce Payment Fraud

Los Angeles-based two-factor authentication and mobile identity services provider TeleSign said today that it has inked an agreement with Telefonica, which will help address account security and fraud prevention for enterprises and service providers in financial services, e-commerce, cloud and social media. Financial details of the deal were not disclosed. The two said the first products from the partnership will be focused on phone verification and real-time country location, in order to reduce fraud in payment card transactions. TeleSign, which is led by serial entrepreneur Steve Jillings, powers many of the phone verification systems used by major Internet services and e-commerce providers.