This article will breakdown the features of Signifyd, offer insight into their product stack and how it compares to SEON. We hope it can help you make the best decision for your business.
Disclaimer: Everything written about the companies mentioned in this article was gleaned from online research including user reviews. We did not have time to manually test all the tools. However, we ensured the information was correct as of spring 2022. Feel free to contact us to request an update/correction.
Founded in 2011 by two former PayPal employees Rajesh Ramanand and Michael Liberty, Signifyd provides enterprise-grade fraud technology solutions with a heightened focus on ecommerce stores.
The company was launched through the idea that “fraud and chargeback protection should enable retailers to deliver friction-free, personalized and smart shopping experiences to customers”.
Now, the San Jose-based fintech company works with over 10,000 businesses globally in the fight against fraud including Toys”R”Us, Bonobos, and Lacoste.
Signifyd Key products
The product stack breaks down into three components: Revenue Protection, Abuse Protection and Payments Optimization delivered through the Commerce Protection Platform.
Revenue and Abuse Protection elements use big data, machine learning and their own manual review process to provide safety for merchants through their own chargeback guarantee model.
The Payments Optimization module is a PSD2 compliant solution that helps authenticate transactions and adds minimal friction to the customer’s journey.
Pros of Signifyd
Does the majority of heavy lifting and removes the need for a larger fraud team with its chargeback model, minimizing the need for human input.
Specialized focus on enterprise ecommerce businesses.
Available integrations with Salesforce, Shopify, and Magento.
Cons of Signifyd
Conflict of interest with the chargeback guarantee as it is in the platform providers’ interests to minimize losses and decline payments even if there is only low risk.
No real-time social media lookup tool for emerging markets and lower margined companies can be damaging as it helps reveal more about a given customer and support your decision making.
Compare SEON’s solution to Signifyd
Book a demo and watch us in real time to see us in action
You are looking to accept more transactions through a more detailed understanding of your customer, require more flexibility with your product and are looking for a solution that will work seamlessly with your fraud team.
Choose Signifyd if
You are a large eCommerce retailer looking for a partner that will automate your fraud and payment systems through a reputable product within the sector.