SAN JOSE, Calif.--(BUSINESS WIRE)--Signifyd, the fastest-growing provider of fraud protection services for e-commerce businesses, today announced that its service is the first and only extension available for the next-generation platform Magento 2.0. The news follows Magento’s launch earlier this week.
This partnership enables Magento customers to quickly and easily integrate Signifyd’s platform into their online stores so they can instantly prevent fraudulent transactions. Signifyd assumes all risks for chargebacks, and if a transaction turns out to be fraudulent, Signifyd guarantees payments to merchants.
Signifyd allows its customers to:
- Increase revenue by selling safely even into international markets
- Detect fraudulent orders before they ship
- Eliminate chargeback costs by guaranteeing approved orders
- Reduce time spent reviewing orders for fraud
“Our goal has always been to change the way e-commerce businesses approach their security and risk issues, by providing them with a cutting-edge solution that combats the problem before the damage is already done,” said Rajesh Ramanand, CEO and co-founder of Signifyd. “We’re thrilled to release our extension directly with the Magento 2 launch. We worked closely with the team at Magento on the new release to make sure it would be ready on day one.”
Signifyd levels the playing field between online and brick-and-mortar retail businesses by providing peace of mind through a fraud protection system that combines domain expertise with machine learning. Signifyd’s multi-faceted approach to fraud prevention surpasses what a company’s internal fraud team could achieve. Other than reviewing, handling, and blocking each transaction so fraud is virtually invisible to the customer, Signifyd guarantees payments to merchants in the event of fraud for all approved transactions, essentially ending the era of chargebacks.
Signifyd recently announced a $7M Series A round, bringing the company’s total funding to $11.2 million. Signifyd represents many Fortune 1000 enterprise and mid-market companies, and is founded by Rajesh Ramanand and Mike Liberty, both ex-PayPal risk & fraud experts.
For more information on Signifyd’s integration with Magento, please visit https://www.signifyd.com/magento/signup/
Headquartered in San Jose, CA, Signifyd was founded by Raj Ramanand and Mike Liberty, a team of veteran risk and fraud experts from PayPal, to help online businesses prevent payment fraud. Signifyd’s full-service cloud platform simplifies fraud detection through a financial guarantee, allowing businesses to increase sales while reducing fraud losses. Signifyd is in use by multiple companies on the Fortune 1000 and Internet Retailer Top 500 list. The Company is backed by top tier Venture Capital firms such as Allegis Capital, Andreessen Horowitz, Data Collective, IA Ventures, Lucas Ventures, QED Investors, Resolute.VC and Tekton Ventures. For more information about Signifyd, please visit www.signifyd.com. Follow Signifyd on Twitter @signifyd