News : Semafone Dials Up Growth Ambitions With Further Investment
London, 2 October 2014 -- Semafone, a UK company providing service in fraud prevention software used by call centres taking payments over the phone, is looking to increase the size of its operations following a growth capital investment from BGF (Business Growth Fund), and a further investment from Octopus Investments and other existing shareholders.
BGF, an independent company established to help the UK’s growing businesses, is investing in Semafone to support delivery of recent large contract wins and expansion in overseas markets.
BGF has taken a minority stake and BGF Investment Director Alistair Brew has been appointed to the board with Investment Manager Will Gresty joining as Observer to the board.
Tim Critchley, CEO of Semafone, commented:?"We are very pleased to have BGF’s support during a pivotal period of growth. Our global collaboration with BT on the BT Secure Contact solution and our expanding customer base, which now reaches four continents, are placing unprecedented demands on the company’s resources. BGF’s investment will help us to deliver these projects successfully as we continue to fulfil our ambitious plans for expansion into the US and further afield."
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Semafone provides secure voice transactions for contact centres and retailers taking Cardholder Not Present (CNP) payments. The solution allows a call - and the call recording - to continue as normal whilst the customer enters their credit card information using their telephone keypad. For complete security, Semafone's patented technology masks the Dual Tone Multi-Frequency (DTMF) tones from the cardholder's telephone and replaces them with a flat tone so they can't be recognised by the call centre agent or recorded on the call recording system. By ensuring all card data remains segregated and by removing Sensitive Authentication Data (SAD) before it hits the call recorder and the contact centre infrastructure, the contact centre is taken out of the scope of PCI DSS, protected against the risk of opportunistic agent fraud and the associated reputational risk.
Published: Thursday, October 2, 2014