Signifyd allows PetFlow.com to accept more orders, more often, and has helped to proactively address emerging fraud trends before they impact the bottom line.
Reduction in Chargebacks
Reduction in Review Time per Case
Increase in Customer Satisfaction and Reviews
PetFlow.com is one of the Internet’s fastest growing and most promising companies. Starting from just $1 million in annual sales in 2010, PetFlow.com exceeded $50 million in sales in 2013. With over 150,000 active customers (growing by 10,000 every month) and over 2.1 million Facebook fans, Petflow.com was named the #1 Social Commerce company in the United States last year by Internet Retailer.
That growth, fueled by the company’s massive social presence, has come with familiar pains related to fraud and chargeback problems. New tactics from fraudsters required PetFlow to divert people and resources from other projects to manual fraud investigations. To ensure that good customers were not declined, PetFlow established caution in its review process, making it very manual potentially impacting revenue and customer satisfaction.
With fraud losses still on the rise, PetFlow.com turned to Signifyd in late 2013 to help reverse this trend.
PetFlow.com’s social-heavy customer base meshed perfectly with Signifyd’s advanced social graph traversal techniques, enabling Signifyd to reduce chargebacks by more than 90%. This has saved tens of thousands of dollars in fraud losses each month, but that’s just the start.
Signifyd has provided deep context around each customer initiating a transaction on the site, enabling PetFlow.com to accept more transactions than ever before without the fear of fraud. This led to happier customers and more glowing reviews and referrals.
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We cover chargebacks connected with fraud or unauthorized charges, often due to:
Stolen account information (account takeover)
Stolen financial information
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
As long as the chargeback meets the above criteria, we'll cover it and reimburse the full chargeback amount, plus any associated fees.