For e-commerce stores, Signifyd is a SaaS service that provides an enterprise-grade fraud technology solution. It streamlines fraud detection with a financial guarantee, enabling businesses to increase sales while reducing fraud losses. It was created with the idea that e-commerce businesses should be able to grow without worrying about being taken advantage of. The solution deals with the problems that growing e-commerce businesses frequently face, such as the billions of dollars in chargebacks, the consumer resentment caused by wrong rejections, and the operational costs associated with labor-intensive, manual transaction investigations. The Account Security solution from Signifyd guards client accounts from fraudulent schemes and organised criminal gangs, as well as the sensitive financial information, gift card information, and loyalty points they store.
By tracking consumer behaviour over time, Signifyd creates a constantly evolving profile of each shopper in our network. This allows us to identify anomalies in shopper behaviour and stop fraudulent activity that results from ATO in real-time. In a complex and heavily regulated payment environment, payment optimization puts the user experience first to make sure that nothing prevents your customers from making a purchase. By performing transaction risk analysis (TRA) pre-authorization, enriching orders sent out for authorization with data from the Commerce Network, and routing orders via exemption pathways for merchants adhering to regional SCA regulations, Signifyd gives banks the confidence to authorise orders that would otherwise be falsely declined and accept orders.
Abuse prevention combines merchant-set Decision Center policies with active monitoring of consumer chargebacks and proactive consulting on best practices for business processes and policies. Integration of chargeback data with payment gateways as well as an automated dispute of abusive chargebacks prevents future abuse without putting unwelcome friction into the shopping experience for legitimate customers. Signifyd Chargeback Recovery services automate processing chargebacks while delivering industry-leading revenue recovery performance. Signifyd monitors ATO patterns throughout our network to protect businesses from developing threats, using information on customer behavior from thousands of worldwide merchants. Signifyd collects valuable device and behavior datapoints such as device ID, IP address, speed of checkout, time of day, successive purchase patterns, and order value throughout the login to checkout process and compares this data to the consumer’s digital footprint across the network to detect anomalies. Signifyd can correctly identify a fraudster from the genuine account holder by studying how a transaction goes from login to checkout, halting the transaction before the purchase is completed. Signifyd can correctly identify a fraudster from the genuine account holder by studying how a transaction goes from login to checkout, halting the transaction before the purchase is completed.
Seamless SCA is yet another option provided by Signifyd. Retailers all around Europe are changing their strategies as a result of PSD2 compliance requirements. Although SCA requirements are meant to increase online payment security, they also run the risk of making purchases more complicated, leading to more cart abandonment, less revenue, and a negative customer experience. But, this is not a need. With Signifyd’s Seamless SCA solution, merchants can regain control of their checkout customer experience by minimising unnecessary friction and maintaining their income. With Signifyd’s cutting-edge TRA and SCA Exemption Engine, you may apply more SCA exemptions and reach higher SCA criteria. Eliminating SCA-induced cart abandonment and raising order approval rates by 1-3% will increase conversion rates. Get a full liability shift for all transactions that are exempt. With Signifyd’s end-to-end commerce platform, you can monitor fraud risk at each stage of the payment process. To detect fraudulent orders and improve your fraud profile with issuing banks, keep your fraud rate low. Features of seamless SCA are Use risk intelligence from the largest commerce network to spot fraudulent transactions. Make sure that the banks receive only the cleanest traffic for authorization. Determine in real time which transactions are subject to SCA and which are exempt from it, as well as the bank’s inclination to accept exemptions. The absence of friction does not require additional. Signifyd includes a 100% financial guarantee on every exempt and out-of-scope transaction approved.
Rajesh Ramanand is the CEO and d Co-Founder of Signifyd. According to Gayathri Somanath, vice president of products at Signifyd, “Fearless Payments enables payment service providers to better serve their merchants by enhancing their solutions and their transaction intelligence with Signifyd’s vast commerce network of thousands of merchants and leading machine learning decisioning capabilities.” The US city of San Jose is where Signifyd is situated. Signifyd has raised more than $390 million and has 24 investors, including the Canada Pension Plan Investment Board and FIS.
“By enhancing their offerings and transaction intelligence with Signifyd’s sizable commerce network of thousands of merchants and industry-leading machine learning decisioning capabilities, Fearless Payments enables payment service providers to better serve their merchants.”