Thursday, September 30, 2010

Two Factor Authentication from TeleSign Credited With Reducing Merchant Fraud

TeleSign keeps websites secure from fraud using two factor authentication systems to verify users. Installing a factor authentication service like TeleSign checks all users and verifies them through a code sent to their phone to ensure they are a genuine customer or user on your site.

Amplify’d from www.telesign.com




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When it comes to enforcing security in the electronic marketplace a factor authentication solution from a company like TeleSign is unmatched for its ability to remain on guard for imposters. I had put TeleSign’s two factor authentication on my site years ago and thankfully it saved me a whole lot of trouble when an imposter designer showed up on my website My mid town Haute Couture fashion boutique had just launched it’s fall collection and we were selling out fast. The clothing designer, located in Paris, was working his team around the clock to resupply my dwindling inventory and the dresses continued flying off the rack on what seemed like an hourly basis. I needed a back up plan or I would run the risk of having to temporarily close my doors and lose business to my competition in the garment district. A former buyer of mine was now coincidentally working in Paris and in a brief moment of desperation I reached out to her to see if she had connections with a rival designer. I realized it was somewhat taboo in the industry but I had created some of the mess by under ordering so I figured I needed to fix it fast.








Turns out my friend unknowingly worked for a black market company creating high end fake designer fashions. The alleged designer was in fact a back alley operation. TeleSign’s two factor authentication caught them when they tried to register on the web site. For years I have required my suppliers to use this site to ensure they paid on time but this time the site proved it’s weight in fine silk. The factor authentication process from TeleSign uses two independent means of verification in order to process an order. You can’t access the web page without the second factor which consists of a PIN number TeleSign sends to a suppliers phone. When imposter company’s phone number trace came back as a pre-paid mobile device, I immediately grew suspicious and canceled the order. TeleSign’s PhoneID service allows me to have this capability. I later found out my friend had been duped into working for these fraudsters and promptly left their employ. I’m so grateful that TeleSign’s two factor authentication solutions were easy to integrate into my website and their cost amounted to a few cents for each verification. With their advancements in two factor authentication I was able to stop a serious situation before it tarnished my reputation. Luckily for me the original designer was able to fill all the orders and my designer store never missed a beat thanks to TeleSign!













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