Signifyd Offers Ecommerce Protection for Trellis Customers

Ecommerce fraud prevention company Signifyd has partnered with Trellis this week to help the company offer its merchant clients a way to provide a safer purchasing process for customers.

Together with Trellis, which offers digital strategy, web design, web development, digital marketing, and integration services for ecommerce merchants, Signifyd will offer Trellis’ merchant clients confidence that their card-not-present transactions are from real customers.

Signifyd’s technology identifies fraudulent product orders using machine learning algorithms that sift through big data, including user behavior patterns, to reduce merchant chargebacks on fraudulent charges and save money on shipping goods on declined orders. And Signifyd stands behind its technology. If an order turns out to be fraudulent, Signifyd reimburses the merchant for the chargeback.

“The Signifyd – Trellis partnership holds significant value for our clients and customers. Protecting transactions is an integral piece of any ecommerce business and integrating Signifyd ensures your bases are covered,” said Justin Whitaker, Director of Marketing at Trellis. “Signifyd has proven their efficacy time and time again by giving brands an extra layer of security. The relationships Trellis has forged are built on communication, trust, and results which align directly with the values of Signifyd.”

Signifyd demoed its chargeback mitigation solution at FinovateSpring 2013. Headquartered in San Jose, CA., with locations in Barcelona, Belfast, Denver, and London, Signifyd has been named on the Forbes FinTech 50 and was listed among Bloomberg’s 50 Most Promising Startups. Additionally, it has been named a top place to work by Entrepreneur, Inc. Magazine, San Francisco Business Times, and the Silicon Valley Business Journal.

The company has 10,000 merchants in its network which count 250 million customers across the globe. Last May, Signifyd closed a $100 million Series D round, bringing its total funding to $187 million. Rajesh Ramanand is CEO and cofounder.

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Signifyd Unveils Chargeback Solution for Online Merchants

Malicious activity from cybercriminals tends to dominate the conversation about cyberfraud. But “friendly fraud” – the kid inappropriately making purchases on a parent’s credit card, for example – costs merchants more than $15 billion a year in chargeback losses.

Add to this both legitimate chargebacks on one hand and sophisticated criminal organizations that exploit chargeback processes to commit fraud on the other, and it’s easy to see how much of an issue chargebacks can be for e-commerce merchants.

To help merchants better manage with these challenges, antifraud solution provider Signifyd has unveiled a new offering Signifyd Chargeback Recovery to give companies the ability to respond to all types of chargebacks – from legitimate error to fraud, “friendly” or not.

“During business reviews with our merchants, we noticed that managing the remaining, non-fraud chargebacks was still a significant issue for many merchants,” Signifyd group product manager Gayathri Somanath said. “Analyzing the problem further, we believed that we could streamline the process for them to ensure their customers are treated well, while abusive consumers are stopped and revenue lost to them is recovered.”

Signifyd Chargeback Recovery is an expansion of the company’s Commerce Protection Platform for online merchants. The solution leverages advanced AI and the company’s data network of more than 10,000 merchants and 250+ million consumers around the world to analyze individual chargebacks in milliseconds.

The technology’s “intelligent targeting” differentiates legitimate shoppers from abusive customers and fraudsters. This ensures that the online merchants’ actual customers are treated well during the dispute process, while questionable chargeback requests are met with challenges such as customized evidence letters.

Founded in 2011 and based in San Jose, California, Signifyd demonstrated its Guaranteed Payments solution at FinovateSpring 2013. Guaranteed Payments provides an additional layer of security for CNP (card not present) merchants using Signfyd’s anti-fraud platform by assuming liability in the event of an error.

Earlier this year, Signifyd opened a new R&D center in Belfast, Ireland, which is expected to generate 150 new jobs. This was accompanied by a series of new hires designed to help the company’s global expansion efforts, and the company’s announcement of a new EMEA headquarters in London.

Named to CB Insights 2019 AI 100, Signifyd has raised $185 million in funding, and includes Menlo Ventures, Bain Capital Ventures, and PremjiInvest among its investors. Raj Ramanand is Signifyd’s CEO.

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