SAN JOSE, Calif.--(BUSINESS WIRE)--Leading ecommerce fraud prevention company, Signifyd and ThreatMetrix®, The Digital Identity Company® announced today they will combine efforts to eliminate online fraud for their customers. The partnership enables ecommerce merchants to remove the liability for fraud by leveraging the power of the ThreatMetrix Digital Identity Network® through Signifyd’s Guaranteed Payments solution.
Signifyd’s VP of Partnerships, Skye Spear, summarizes what the partnership means for ecommerce merchants, “ThreatMetrix provides global shared intelligence on more than a billion digital identities. The ThreatMetrix Digital Identity Network provides additional insights for Signifyd’s machine learning capabilities enabling us to authenticate orders from customers who may have previously been denied. We’re able to incorporate additional data in real-time to identify and mitigate sophisticated fraud scenarios across one or more of our customers emulating multiple buying identities. Our goal is to increase decision confidence for online merchants through a managed service that’s backed by a financial guarantee.”
Through the partnership, Signifyd will leverage the ThreatMetrix Digital Identity Network to further enhance Signifyd’s Guaranteed Payments, which provide a 100% financial guarantee against fraud on every approved order. This new intelligence and subsequent guarantee allows merchants to accept more orders without the risk of chargebacks as the liability of fraud losses are shifted to Signifyd. Guaranteed Payments are ideal for fast-growing businesses, merchants in fraud-prone industries and those looking to expand overseas or in new markets and segments previously considered too risky.
“As online fraud evolves at an ever-increasing pace, merchants need new ways to mitigate risk. Signifyd’s use of the ThreatMetrix Digital Identity Network in its Guaranteed Payments solution allows merchants to aggressively grow their business and accept more legitimate customers without risk,” commented Leah Evanski, ThreatMetrix VP Strategic Alliances.
Signifyd and ThreatMetrix together provide a winning alternative to merchants using restrictive platforms that decline legitimate orders, delay shipments and are unable to eliminate chargebacks. Even other fraud prevention platforms with machine learning lack the closed loop for data feedback that Signifyd and ThreatMetrix provide with Guaranteed Payments and the Digital Identity Network. This partnership allows Signifyd and ThreatMetrix to leverage extensive fraud data and expertise to stop subsequent attempts at fraud, regardless of merchant size, industry or value of transaction. With more data and complete transparency, Signifyd and ThreatMetrix can significantly reduce financial losses from fraud for merchants.
Signifyd was founded on the belief that e-commerce businesses should be able to grow without fear of fraud. Signifyd solves the challenges that growing e-commerce businesses persistently face: billions of dollars lost in chargebacks, customer dissatisfaction from mistaken declines, and operational costs due to tedious, manual transaction investigation. Signifyd Guaranteed Payments protect online retailers against fraud and chargebacks with a 100% financial guarantee against fraud for every approved order. Signifyd’s full-service machine-learning engine automates fraud prevention allowing businesses to increase sales and open new markets while reducing risk. Signifyd is in use by multiple companies on the Fortune 1000 and Internet Retailer Top 500 list. Signifyd was recognized as one of the 50 most innovative Fintech companies of 2016 by Forbes and is headquartered in San Jose, CA. For more information, please visit www.signifyd.com.
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix Digital Identity Network®, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, ecommerce, payments and lending, media, government and insurance. ThreatMetrix is headquartered in San Jose, CA. For more information, please visit www.threatmetrix.com.