Investment research firm adds Semafone security for telephone payments

Independent investment research firm Stansberry & Associates has selected Semafone, the Global Leader in Secure Voice Payments, making it easier to accept card payments over the telephone and improve customer service while eliminating the risk of fraud.

Stansberry & Associates is an independent investment research firm, based in Baltimore, Maryland, with subscribers in more than 100 different countries. The firm will use Semafone’s application to protect its customers’ credit and debit card data when they wish to make a payment during a telephone call. Customers simply enter their card details directly into their telephone handsets, avoiding the need to speak the numbers out loud. The member of staff handling the call never sees or hears the data, which is transmitted directly to the bank.

Semafone’s patented solution will help Stansberry to become fully compliant and “out of scope” of Payment Card Industry Data Security Standards (PCI DSS) regulations that must be implemented within call center environments. Semafone was selected over a different type of card payment system where recorded messages are used to direct the customer to enter their card number (also known as an automated payment IVR – Interactive Voice Response). Using Semafone, customers will be able to continue their conversation with a member of staff at Stansberry while they enter their card details, rather than being diverted to a machine.

A significant advantage of the Semafone system is that its open application programming interfaces (APIs) allow it to integrate easily with Stansberry’s other call center equipment and systems. The implementation will roll out over the next couple of months and integrate Semafone with Stansberry’s other key call center vendors, including Nuxiba (telephony carrier), Advantage CS (CRM) and Litle & Company (payment processing gateway). Semafone’s solution will be hosted by Nuxiba, ensuring no credit card details will enter Stansberry’s contact center environment and negating the need for 286 PCI DSS information security controls. The Semafone deployment should help Stansberry to realize significant cost savings of approximately $4,000 per desktop per year in its implementation and ongoing maintenance of the PCI DSS standards across its call center / telephony environment.

Our service to our customers is paramount

A secure system was never going to work if we annoyed our customers in the process by making them talk to a machine. With Semafone, our team will never lose contact during the transaction, so we will be there to provide help if they mis-key a number or if they want to ask a question. The implementation should be straightforward, and we were very impressed by Semafone’s willingness to work closely with our existing partners.

– Lance James, CRM Director at Stansberry.

By avoiding contact with card data altogether, Stansberry will be fully PCI compliant without the burden of additional security checks to its IT and telecommunications infrastructure. We are delighted that the company is already considering a roll-out to its other offices during the course of the next 12 months.

– Stu Carty, EVP The Americas, Semafone
Stansberry Research Invests in Card Payment Security with Semafone

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