January 19, 2017
Sourabh Kothari
Sourabh is the Director of Merchant Advocacy at Signifyd, where he brings over 18 years of experience defining, designing and delivering content through stories, events and video.

Guaranteeing Online Payments Against Fraud

In this month’s issue of The Nilson Report, Signifyd and ThreatMetrix are featured in an article titled “Guaranteeing Online Payments Against Fraud.” For the full article, please visit The Nilson Report (subscription required).

The article outlines how Signifyd is one of only three companies offering a guarantee against fraud losses for ecommerce merchants. It explains how Signifyd’s machine learning reviews thousands of data points in real time and how merchants are reimbursed for chargebacks, including taxes and shipping costs.

To eliminate fraud losses for more than 5,000 ecommerce merchants, Signifyd provides a 100% financial guarantee against fraud and chargebacks. With this protection in place, merchants are able to accept more orders and significantly reduce their workload from manual order reviews. Since orders are guaranteed against fraud in real-time, merchants can automate fulfillment to ship orders out to customers faster, leading to fewer cancellations and higher customer satisfaction. More details about Guaranteed Fraud Protection are available here.

To clarify, ThreatMetrix does not provide guaranteed fraud protection. The article briefly explains Signifyd’s strategic partnership with ThreatMetrix. ThreatMetrix verifies more than 20 billion transactions a year and holds information on a billion people across the world. ThreatMetrix analyzes connections between devices and locations, personal information, cybersecurity threats and other consumer behavior to protect its customers against fraud. Through the partnership ThreatMetrix will promote Signifyd’s Guaranteed Fraud Protection  to its customers and smaller merchants will be able to access ThreatMetrix through their link to Signifyd.

The article begins and concludes with an interesting analogy to Signifyd’s guarantee service and the guarantee against fraud losses from checks that brick and mortar retailers have been able to purchase since the 1970s.

The Nilson Report, in its 46th year of publication, is a respected source of news and analysis for the global card and mobile payment industries. Available only by subscription the newsletter provides credit, debit, and prepaid card issuer, acquirer, and vendor statistics as well as concise technology, personnel, and product news and updates.

 

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Signifyd’s Reimbursement Policy

What’s Covered

We cover chargebacks connected with fraud or unauthorized charges, often due to:

  • Stolen account information (account takeover)

  • Stolen financial information

What’s Not Covered

We do not cover chargebacks due to errors made by the merchant, card processor, or shipper, like:

  • Item not received, not as described, or defective/broken

  • Refund not processed

  • Duplicate charges

As long as the chargeback meets the above criteria, we'll cover it and reimburse the full chargeback amount, plus any associated fees.

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