Elephant Talk Communications, a provider of carrier grade mobile delivery platforms, has signed a JV agreement with ValidSoft, a provider of sub-second identity verification, fraud prevention and false positive reduction for credit and debit card ATM and POS (Point of Sale) transactions.
ValidSoft would use Elephant Talk’ international telecommunications platform to integrate and deliver their proprietary software solutions to protect users from financial fraud, while offering additional products. Each party will be entitled to a commission from the other party, for the generation of revenues from each others’ products and services.
Steven van der Velden, CEO of Elephant Talk, said: “We believe that this joint venture will assist the users of the joint venture products and services in reducing credit card fraud and will help banking institutions and governments lessen the amount of money loss from fraud.”
Pat Carroll, CEO of ValidSoft, said: “We are confident that this strategic relationship is the ideal partnership to combat the global fraud dilemma, and bring innovative products using mobile networks. Upon completion of paid trials, ValidSoft has received positive feedback from major European banks.”
ValidSoft is a real-time, risk-based, Out-of-Band Multi-factor Authentication and Transaction Verification platform, with solutions designed to help prevent fraud across a variety of transaction types and channels.
