Collaboration Between Telesign and PCI Pal Aims to Bolster Fraud Prevention in Contact Centers
The partnership between Telesign and PCI Pal aims to enhance the security of voice-based interactions with enterprises by launching a Fraud Management Suite. This suite utilises AI-powered real-time risk scoring to detect fraudulent payments before they occur, particularly in contact center environments where Card-Not-Present (CNP) fraud is difficult to spot.
The solution addresses the vulnerability of CNP fraud, where criminals use card details to impersonate legitimate customers remotely, often over the phone. By integrating AI-driven risk intelligence into PCI Pal’s Secure Payments Suite, it strengthens security for voice and digital channels simultaneously.
According to Juniper Research, the cost of payment fraud is expected to rise dramatically, from $44 billion in 2024 to $109 billion by 2029. Moreover, 79% of businesses reported facing payment fraud attempts in 2024. By offering advanced fraud detection in contact centers and enabling seamless authentication for both human agents and automated bots, the partnership targets one of the most costly online payment fraud types while improving operational efficiency and reducing financial losses.
Telesign, headquartered in Marina del Rey, California, debuted its platform at the Fall 2023 conference. The new tool from Telesign shows firms how to mitigate risk via intelligent phone number analysis and insight.
Proximus Global Business Lead Rajdip Gupta stated that the partnership addresses the issue of payment card fraud in contact centers. The partnership between Telesign and PCI Pal is set to revolutionise the security landscape for voice-based interactions, providing a much-needed solution to the growing problem of payment fraud.
The partnership between Telesign and PCI Pal is not only geared towards enhancing security in voice-based business interactions, but also combats the rising cost of data-and-cloud-computing-driven payment fraud, expected to reach $109 billion by 2029. With the integration of AI-driven risk intelligence, the solution aims to provide a robust defense against CNP fraud in both voice and digital channels, thereby reducing financial losses and improving operational efficiency for businesses.
