This article will breakdown the features of Signifyd, offer insight on 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 Summer 2021. 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 e-commerce stores.
The company was launched through the idea that “fraud and chargeback protection should enable retailers to deliver friction-free, personalised 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 Optimisation 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 Optimisation 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, minimising the need for human input.
- Specialised 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 minimise losses and decline payments even if there is only low risk.
- No real-time social media lookup tool which for emerging markets and lower margined companies can be damaging as it helps reveal more about a given customer and support your decision making.
SEON Vs Signifyd Features Comparison Table
|Email data enrichment||Yes||Yes|
|Phone data enrichment||Yes||Yes|
|Find user social media||Yes, checks 35+ platforms||No|
|BIN for transaction||Yes||Yes|
|Behaviour tracking||Yes, via custom rules||No|
|User authentication||Via cookie and browser hash||Yes|
|Machine learning suggestions||Yes||No|
|Industry preset rules||Yes||Yes|
Integration / deployment
|Custom API fields||Yes||No|
|Integration with other tools||Yes, via Zapier||Yes via Shopify, Magento and Salesforce|
|Cost per month||€300||$1,500/month|
Where SEON Wins Over Signifyd
- With our real-time data enrichment social look up, device fingerprinting and digital footprint analysis you can create full customer profiles to help boost your revenue and accept more transactions.
Where Signifyd Wins Over SEON
- Their focus on enterprise eCommerce businesses has led to a direct focus on automation, a competitive advantage if your business handles masses of transactions.
SEON vs Signifyd Conclusion
Choose SEON If:
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.