Zumigo Recognized for Creating New Opportunities in Financial Technology Business by Securing e-Commerce Transactions with New Merchant Payment Validation Service
SAN JOSE, Calif. — April 14, 2015 — Zumigo Corporation, a leader in mobile device location and identity verification, today announced that it has been chosen by AlwaysOn as one of the OnFinance 50 “Companies to Watch.” According to AlwaysOn, inclusion on the OnFinance 50 list signifies leadership among Zumigo’s peers and game-changing approaches and technologies that are likely to disrupt existing markets and entrenched players. Zumigo was specially selected by the AlwaysOn editorial team and industry experts spanning the globe based on a set of five criteria: innovation, market potential, commercialization, stakeholder value, and FinTech buzz.
“The OnFinance 50 Companies to Watch represents the best-of-breed of private companies in the b2b and personal finance, crowdfunding, payments, and digital currency sectors,” explained AlwaysOn founder and editor, Tony Perkins. “Given the growing demand by both consumers and Fortune 100 companies for new generation Fintech solutions, and the amount of investment dollars pouring into the space, the OnFinance ‘Companies to Watch’ private companies are well positioned to be the fastest growing and most highly valued new companies on the planet.”
The OnFinance 50 “Companies to Watch” winners were selected from among hundreds of other technology companies nominated by investors, bankers, journalists, and industry insiders. The AlwaysOn editorial team conducted a rigorous three-month selection process to finalize the 2015 list. Zumigo and the OnFinance “Companies to Watch” companies will be honored at AlwaysOn’s OnFinance event on April 30 at NASDAQ OMX, 4 Times Square, in New York City. The full list of OnFinance 50 winners can be found at http://aonetwork.com/blogs/Unveiling-the-OnFinance-50-Companies-Watch.
“AlwaysOn is a leading business media outlet, and we are pleased to be recognized for our advancements and innovation in the FinTech community,” said Zumigo Founder and CEO Chirag Bakshi. “Zumigo’s differentiated mobile identity and location technology has been serving the financial industry by helping it secure financial transactions. Our most recent introduction helps merchants identify and authenticate users and reduce fraud they are facing with e-Commerce today.”
Zumigo’s Assure Payments™ solution verifies the purchaser’s identity against mobile billing records delivered through Zumigo’s partnership with mobile operators and Equifax. This verification includes matching the credit card ownership details against the owner of the mobile device identified to the shopping cart. In addition, Zumigo can identify the real-time location of the mobile phone to be compared against the IP address, as well as the shipping and billing address of the purchaser. When all of these relevant data points match, merchants can be assured of a lower-risk transaction while identifying higher-risk ones for additional scrutiny or denial.
Zumigo also supports the tremendous growth in smartphone-based mobile commerce. By enabling merchants to augment their existing shopping carts with secure automated form population, cart abandonment can be reduced along with fraud. With just a few pieces of identifying data, the phone owner’s name, address and payment credentials can be loaded into the shopping cart.
AlwaysOn is the leading business media brand connecting and informing the entrepreneurial community in the Global Silicon Valley. Founded by Red Herring founding editor Tony Perkins in 2003, AlwaysOn’s mission is to continue to lead the industry by empowering its readers, event participants, sponsors, bloggers, and advertisers like no other media brand.
Zumigo is pioneering a new generation of mobile services predicated on providing a richer experience for customers through more relevant, context- based information. Its global solutions support marketing to customers with location in context, and securing financial transactions using mobile infrastructure. Zumigo is led by veterans of the mobile and financial industries with years of experience in developing and managing mobile solutions for some of the world’s largest carriers and enterprises. Headquartered in San Jose, Calif., Zumigo is a venture backed company. For more information, please visit www.zumigo.com.
Zumigo is a registered trademark of Zumigo Corporation in the United States and other countries. All other trademarks are the property of their respective owners.