Zumigo, which detects fraud by authenticating mobile devices, debuted its Assure security products, this week.
The San Jose startup uses cellular phone protocols in order to make sure customers’ mobile devices are in the same building as, say, a merchant receiving a payment at the point of sale.
The company’s authentication service is supported through the use of APIs.
"Until now, no one has offered this combination of solutions critical to prevent financial fraud and support device authentication. We have developed entirely new ways of leveraging mobile data to solve some of the toughest industry challenges,” said Chirag Bakshi, Zumigo’s founder and chief executive, in a press release. “Perhaps the best part of Zumigo's solutions is that they don't require changes in consumer behavior, simplifying adoption."