ENSURE PSD2 COMPLIANCE, PROVIDE A FRICTIONLESS AUTHENTICATION EXPERIENCE, AND FEARLESSLY SHIP MORE GOOD ORDERS
New laws coming into effect across the globe, like Europe’s PSD2 or Australia's CNP Fraud Mitigation Framework, can have harmful effects on authorization rates. It’s estimated that merchants selling in Europe stand to lose €57bn in the first 12 months alone, or nearly 10% of online sales, from friction caused by Strong Customer Authentication (SCA) .
New requirements can muddy the waters when it comes to authorizations and managing authorization rates appropriately is key to making sure merchants stay in good standing with card networks.
Payments Compliance Solution Overview
Authorization Rate Optimization
By combining industry-leading transaction intelligence with best-in-class machine learning, Signifyd expertly identifies payments that would typically be destined for decline before they are ever sent for authorization. Intelligent routing of those transactions ensures that Signifyd merchants have the highest authorization rates in the industry, save on payment processing costs, and maximize conversion at every point in the payment journey.
Automated OFAC Checks
All orders are automatically checked against the Office of Foreign Assets Control (OFAC) list to shield merchants from transacting with “blocked persons.” Signifyd merchants will never unintentionally transact with known bad actors or risk violating sanctions programs.
Inconveniences to online shoppers – like bank induced challenges, lengthy decision times and 3DS declines – can result in revenue leakage of up to 25% for merchants.
Signifyd’s Payment Compliance solution allows merchants to discreetly perform SCA, long before a customer even reaches the checkout page. Device token information, behavioural metrics, and biometric data are all gathered while a customer shops. Built-in 3DS2 capabilities ensure that both the payment provider and the cardholder’s issuing bank receive the information necessary to authenticate the transaction.
Signifyd’s solution ensures merchants achieve regulatory compliance with the second Payment Services Directive in Europe by satisfying all SCA requirements. Signifyd uses 3-D Secure 2.2 to meet PSD2’s requirement to “dynamically link” payment to the issuing banks and confirm that SCA has been conducted.
Signifyd’s solution was the first 3-D Secure version 2.2 solution to receive all certifications from EMVCo – the leading authority on worldwide interoperability and acceptance of secure payment transactions.
Signifyd’s Complete Financial Guarantee extends beyond just fraud or 3DS alone,
to guarantee every Signifyd-approved order.