Fraud & abuse chargebacks
Guaranteed Fraud Protection
Philips has transformed from a leading electronics business to become a health technology company with a purpose to improve health and well‑being through meaningful innovation. Philips is active in attractive segments that offer significant potential for growth.
“I absolutely would recommend Signifyd because it really helps to create trust in the business, not only from a consumer perspective but also for the business internally. It’s a reliable source where you no longer need to be concerned about chargebacks, issues on the checkout and payment refusals.”
Philips faced a key challenge with customer satisfaction as it moved towards the ecommerce landscape. With constant issues around friction, checkout abandonment, payment refusals and fraud, Philips was experiencing a high loss in good orders, resulting in a negative impact on its revenue and brand reputation.
Philips chose to partner with Signifyd as a solution that would be seamless from a customer point of view and at the same time would protect the brand and company revenue. Signifyd was chosen as a reliable source to help create trust in the business and for Philips’ customers.
Since deploying Signifyd, Philips has seen large improvements in cost savings and fraud reduction with chargebacks significantly reduced from 5% to below 1%. Conversion rates have also increased from 40% to over 75% with the aim to reach over 90% in the near future.