Verizon Wireless (NYSE: VZ) will employ Danal's mobile identity and authentication services to provide mCommerce merchants with device identification, fraud prevention and consent-based mobile account details. The vendor said its mobile identity platform links in real time with Verizon systems to provide added security and convenience in mobile transactions.
According to Danal, merchant testing of its mobile identity platform has shown a 200-300 percent increase in mobile transaction completions.
"Consumer transaction completions on the mobile device are low compared to more traditional methods like consumers directly typing information on 'input constrained' devices. By creating a safer and more convenient experience, Danal and Verizon expect to see a significant increase in mobile transactions above the standard industry completion rates of 2-3 percent," said Jim Greenwell, Danal CEO.
Danal's platform also provides for data corroboration, mobile-device identification, location and account attributes and security enhancement for ecommerce transactions. Further, the service allows companies to consistently identify a mobile device and its owner, which helps safeguard against spoofing, phishing and device cloning by fraudsters.
"Our merchant-partners in both the retail and financial industries expect our service to significantly reduce fraudulent transactions on the mobile device by implementing our patent-pending technology," Greenwell noted.
Danal earlier this month announced a partnership with location service provider Locaid aimed at creating a set of mobile authentication products for financial institutions and enterprises. The joint offering combines Locaid location tracking abilities with Danal's mobile identification tools to provide dual verification of phone location coupled with mobile identification to significantly reduce fraud.
Danal is best known for its BilltoMobile one-click payment experience. Its website shows the company has partnerships with AT&T (NYSE:T), Sprint (NYSE: S), T-Mobile US (NYSE:TMUS) and Verizon as well as numerous other operators around the globe.
Verizon Wireless, AT&T Mobility and T-Mobile are backers of the Isis mobile payments and commerce venture, which launched nationwide in November 2013. More than 68 mobile devices from Verizon, AT&T and T-Mobile support the Isis Wallet, which now comes preloaded on 14 smartphones, with more preloaded devices in the pipeline. Isis announced earlier this summer that it will rebrand to dissociate itself from the radical Sunni Islamist militant group the Islamic State, also known as ISIS.
- see this Danal release
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