Signifyd

Vorteile

Signifyd allows for a simple API integration to send them data on transactions. They normally return a "fraud score" in less than 5 seconds, and they provide a nice visual panel to review the reasons they gave that particular score on their site. It's easy to add team members as human reviewers and manage different teams reviewing different items. You can also change how strict you want to be by simply adjusting the score at which you consider something to require manual review.

Nachteile

For a while, Signifyd tried to push everyone onto a fraud insurance plan. They would guarantee each transaction that they determined was likely not fraudulent, in exchange for a percentage of the total sale price. For marketplaces like us who already only take a percentage of the total sale price, this was a nonstarter. It would reduce our own profits by a huge percentage. Fortunately they have, for the moment, moved back to offer fraud scoring without insurance.

Vorteile

Ease of use, set it and forget it
Fast reimbursment
Accurate fraud ratings, minimal false negatives

Nachteile

No secure way to submit customer ID or verify customer identification
No "white list" or Blacklist

Vorteile

There is a very nice dashboard when you login: you can see in one second all the las orders with a color code and a rating, with some statistics to check what's going on your store. The fraud control is super fast, it's almost immediate and you can review all the orders information on the software.

Nachteile

The customer service is very disappointing: sometimes, the rating does not help to know if an order is approved or rejected, cause it's unsure if its a fraude or not. But their help desk does not give more information. Also, many details are lacking: is it a confirmed fraud, a probable fraud, a rejected, a reproved order? Other softwares have more features.

Vorteile

The software has been stable and trustworthy for the past 5 years

Nachteile

The actual software algorithm is not clear on how competitively differentiated it is from others in the market

Vorteile

The approval rate is very high. Since they only get paid on orders they approve, they have an incentive to approve as many as possible. This has lead to us being able to take orders that were risky that we wouldn't have normally taken without an increase in our fraudulent order rate.

Nachteile

You only have 7 days to report a chargeback for reimbursement. For a small company, sometimes it's hard to get the reimbursement filed when you have multiple fires that need putting out during the busiest seasons.

In Betracht gezogene Alternativen

Gründe für den Wechsel zu Signifyd

Vorteile

Integration was really easy. It worked immediately after set up with no issues. It is a plug and play solution. Requires little to no maintenance. It is working for you in the back ground and flags all Fraud transactions. If any Fraud transaction gets thru, they have a very easy process to reimburse you for fraud related credit card chargebacks/distputes.

Nachteile

no issues. it really is a great product.

Vorteile

the commision is so small compared to the benefits, us not making the decision whether we accept a order due to risk is the main thing, signifyd makes this decision and we have far less risk of a chargeback

Nachteile

sometimes orders can be declined by them for no reason which we have to speak to customer service about to resolve

Vorteile

Absolutely great product. Before Signifyd we would have major chargebacks on large purchases every month or so which meant we were out on both the merchandise and the money. We didn't have a way of fighting it and we were losing a lot of money. The system integrated easily with Magento, their fee is minimal , their determination is subject to your input, even if the software flagged something as Fraud you can appeal and a human will check and can override the system.

It seemlessly updates the orders in Magento with the decision or the revision of whether an item is fraud or not. Really really great.

Nachteile

We had a lot of custom checkout methods that were getting flagged and the process of getting Signifyd to ignore them was not simple, it required changing the code rather than just a configuration.

Vorteile

Signifyd requires minimal input once setup and notifies us if orders are potentially fraudulent and provides a guarantee our online orders are not fraudulent.

Nachteile

The only con I can think of is that you need to login to the dashboard to cancel an order guarantee (if the order needs to be cancelled) you can't do it from the Magento integration. But this is minimally inconvinient.

Vorteile

It is a very complete solution for online purchases making sure the sales to people everywhere and giving merchants peace of mind when processing payments

Nachteile

You need more integration with payment methods to verify them.

Also a broader portfolio for other types of businesses that want to integrate an anti-fraud solution

Vorteile

Most importantly, we are seeing far fewer fraudulent orders, even with the fraudsters constantly looking for ways to defraud small businesses. It is easy to use and understand, and if they flag an order as fraudulent when you do not believe that it is, they allow you to appeal the verification. Their process (including appeals) is fast and efficient-- even appeal-approved orders are able to be shipped in a timely manner.

Nachteile

It can be somewhat difficult to get them to approve a transaction that they have flagged as fraudulent. It does not happen often, so it is not a huge problem for us, and we do understand that this is for our company's own good. However, our audience is mostly retirees, and trying to tell them that their order was flagged as fraudulent can be... difficult. There have been just a couple of times in the course of 3 years that we did not agree with Signifyd's decision, even after the appeal. Each time, we sided with their decision, which reinforces our trust in the program.

Vorteile

The peace of mind that the system offers is In the past we used COUNT which helps you spot fraud but we sell high-dollar ticket items so when there was fraud we were on the hook for a lot of money. So even with Signyfied having a fee, it's still easier and more beneficial to determine what our cost of doing business will ultimately be.

Nachteile

We have a very long buying cycle, so we don't like that address changes are very cumbersome. Our orders are usually on very large LTL shipments which also mean that when a customer truly realizes how big the shipment is they often times want it delivered to a different location or worst yet the carrier requires a different delivery location because the truck cannot make it to the address provided safely. We would love to see changes in the delivery address handled more efficiently.

Vorteile

Signifyd is easy to use and provides information that speeds up our screening process significantly. Signifyd's model works great for us; it provides an incredible amount of easy to understand and easy to access information that's directly relevant. Best of all, there is no charge unless the guarantee is used.

Other companies charge exorbitant amounts for the information Signifyd provides and without the option for an inexpensive guarantee. Signifyd has increased our revenue by allowing us to release orders we may have cancelled previously and has reduced (by a great degree) the amount of labor hours needed to screen orders.

Nachteile

It's difficult to find a weakness in Signifyd, at least without nitpicking details. I suppose if there is one thing I'd like to see more robust, it would be the "Search for other cases" under the order IP. Perhaps it just needs a larger sample size, but at the moment that's the least useful feature for us.

Vorteile

When processing payments for the items that we sell, it's great to have more of a full picture of the customer. Since we are ecommerce, the customer isn't here looking at us while we run the card for payment. Having the extra details that Signifyd is able to provide is important for us. It was fairly easy to integrate this program with our order processing system and there are rarely ever any "hiccups" in communication between the two.

Nachteile

The only complaint about this product is with some of the reasons that the transaction is declined for guarantee. There have been instances where the guarantee was denied due to the email address looking suspicious, yet orders with no match at all on the billing address are processed through with an approval.

Vorteile

Fraud management is no longer a pain now that we've partnered with Signifyd. We're able to minimize our time managing fraud, maximize sales and revenue and minimize risk to both consumers and our business. Their customer service and account teams are really responsive and collaborative. They also provide loads of meaningful insights. It's a great company to partner with.

Nachteile

It was really easy to implement with our Shopify store but a little bit more involved with our Sitecore store (which is essentially a custom build).

Vorteile

We like that we get daily notifications about possible fraudulent orders. Being reimbursed for the chargebacks on orders that were approved is an added benefit.

Nachteile

There really is no con. Signifyd has saved us from loosing money on a fraudulent order. The fact that it breaks all of the customer information down is very helpful.

Vorteile

Time saving is one of the major advantages of using Signifyd as a fraud detector. There is another one worth mentioning that became apparent when I was exposed to other third-party fraud detection software solutions. That advantage would be the ability to resubmit declined orders after collecting additional information from consumers, which is not offered by all solutions. It provides me the peace of mind to make a final ship / no ship decision. Artificial intelligent is a fantastic tool but having that human touch on the secondary review sets Signifyd above the rest. The last thing I want to do is decline a valid order and potentially sacrifice brand loyalty.

Nachteile

Cost per transaction is higher than other solutions.

Vorteile

Using with BigCommerce it is as simple as downloading the app and setting up an account. The rest is pretty straight forward. Functions are easy to use and navigate. It shows detailed info about the customer, address, phone number IP address and much more. Approved/Disapproved orders are instant 99% of the time. A few get manually reviewed but is still no more than a hour after the order at the latest. By far the best fraud software I have used for a reasonable price. Also if a order does end up getting a chargeback, they will refund the order if they approved that specific order. I have only had 2 out of 1000s of orders and they reimbursed me pretty much no questions asked.

Nachteile

So far the only thing I have found is every once in awhile a order will get denied when I personally think it checks out good and vice versa. But this has only happened 3-4 times in the last year. Not many cons to complain about.

Vorteile

Gave great insight into customer risk, and my team used it daily. We partnered with Signifyd after an incredible Black Friday/Cyber Monday, which then resulted in a rather brutal amount of chargebacks because we were not prepared. It was easy to implement and did not take much training before we could use the data it provided.

Nachteile

It does not automatically process refunds! So we would have to go in and manually do this, otherwise we would get charged for the screening of every purchase. It was unmanageable for any business doing 5-10M in revenue per year.

Vorteile

Signifyd guarantees 100% of the charge-backs if there is any. We have been for over 6+ years with them and we never had a charge-back.

Nachteile

Sometimes when they decline a guarantee the turn-around time is not up to speed for a reconsideration/manual verification.

Vorteile

It is extremely accurate in catching fraudulent orders and transactions. So far I don't think it has missed any in the two years we've used their services. It opens up the possibility to gain more sales. For example, we can offer customers the ability to create orders where the shipping and billing addresses do not match. This is a big deal in today's e-commerce economy. Before Signifyd, that was a major risk since it's one of the most common ways scammers buy goods with stolen credit cards.

Nachteile

I wish it had a way to fully intervene with a transaction and stop it from processing rather than only giving a warning that an order is fraudulent.

Vorteile

When we first started selling furniture on our website, we could have chargebacks and fraud. At one point we stopped taking American Expresses because we had so many chargebacks from customers who used it. Once we started using Signifyd we were confident in any sale approved by Signifyd and usually canceled the ones that weren't. With their Portal, you could tell when they were obviously a fraud.

Nachteile

Initially, when we started using this every so often a sale would take a while (24 hours or more) to be reviewed. But we haven't experienced that in quite some time. Most sales are reviewed instantaneously.

Vorteile

1. Easy to implement - service was easy to incorporate into our payment process
2. Reduced Fraudulent Transactions - Service significantly reduced the number of fraudulent charges

Nachteile

Buyers must carefully consider the minimum service fee to ensure appropriate ROI

Vorteile

I like the succint summary of each transaction. We are provided information that helps us fight unwarranted chargebacks. The dashboard is great for approving orders when you are busy.

Nachteile

With the Shopify integration, it can be a bit tricky to route several stores through one account. I still have orders showing as trials for different clients - however this is more of a visual issue than anything. I have been assured the data will be store in the event of a chargeback.

Vorteile

Reviews every order against a very large database

Nachteile

Absolutely no complaints. Any issues we bring up are immediately addressed.

Vorteile

ease of use
integration is seamless
support is always there
solve problems before they become problems
easy to staff out and have them operate

Nachteile

cost - like all things could be less
set up $ where this is used and not used. I only want to insure orders over $200 but I must use all so I end up going in and manually canceling all orders under $200.

Vorteile

This has made reviewing and navigating our potential fraud orders much easier. When fraud is on the rise, it has been a great tool.

Nachteile

The biggest issue is the lack of protection against "delivered but not received" situations. This is partially due to our inability to integrate this into our systems due to our payment solution.

Vorteile

I like how we can feel safe on every tranasation.

Nachteile

I do not like the strict time frame for approving cases that are chargebacks.

Vorteile

The product is easy to use and if there are any cases that need to be addressed, the Signifyd team provides details that led them to their decisions.

Nachteile

Some of the abbreviations in the notes for declined orders are not easily identifiable.

Vorteile

I loved the fact that it is easily synchronised with my Shopify website.
*It doesn't take long at all to set up.

Nachteile

I could not fault the software so I have nothing bad to say here.

Vorteile

Signifyd allows us to process and ship all the orders that flow into our ERP without concern of fraud. Knowing the 100% chargeback guarantee from Signifyd, we can ship orders without the need for an additional step in the process. This allows us to ship faster and more efficiently.

Nachteile

I have no cons at this point with our use of this product.

Vorteile

Thanks to Signifyd's expertise, we can avoid long chargeback procedures. It is a huge help to have our e-com orders reviewed by the team daily.

Nachteile

Guaranteed Payments covers merchants against chargebacks associated with fraud or unauthorized charges only.

Vorteile

That we can use it on demand. Only have to pay for a guarantee on the orders that are suspicious.

Nachteile

It would be nice to know exactly why an order got the score it received.

Vorteile

This software was very easy to implement onto our complicated, custom e-Commerce website. I was able to integrate with our shopping cart without much issue.

Nachteile

So far there really haven't been any cons to the software.

Vorteile

fraud/customer review. quickness of reimbursement once approved

Nachteile

leaves gaps in what is "reimbursable" and the window to submit a claim is ridiculous. Needs to be 30 day claim period, not 7.

Vorteile

Everything. I have the peace of mind in knowing that any chargeback is secured and insured.

Nachteile

The 7-Day aging limit on the quotes. After 7 days the software will not accept the invoice

Vorteile

The level of protection you receive with this product is incredible. And they stand by their commitment to preventing fraud.

Nachteile

Frankly, I love the software, it can be complicated if you have a complex workflow for purchase.

Vorteile

Reduces hands-on order auditing
Increases order acceptance rates
Prevents fraudulent sales

Nachteile

The time given to submit a dispute through Signifyd is extremely short. We have missed a deadline to submit by 1 day due to the dispute not being in our mailbox until it was too late

Vorteile

Simple to use, and takes the worry out of selling online. Signifyd has allowed us to focus on our product they worry and screen for fraudulent orders.

Nachteile

Minor con is sometimes perfectly good orders get declined so you need to do some extra work to get them approved.

Vorteile

The time that is saved in judging whether or not to move forward with the order process has diminished and this has helped us offset risk of fraudulent orders going through. On top of that, there are plenty of interesting data points on our customers that are shown.

Nachteile

There was a time where the data was not showing and it took a couple weeks to be back. Also we wish we could integrate data points of our consumers into our CRM.

Vorteile

Peace of mind and not to worry about a Fraudulent Orders . If Signifyd Approves it, I am Covered

Nachteile

wish I could talk to a customer service rep if needed

Vorteile

The software is really easy to use. It has a lot of tolls to help you understand it better and the best part is, you fell really confident selling your products online.

Nachteile

Sometimes, when using it in a customized web page, the response time can be a little long.

Vorteile

We appreciate the reduced labor and ease of use. It just runs in the background and the orders keep flowing.

Nachteile

The only con would be the cost. It's still a value for us, but in ecommerce you're always looking for a slight edge.

Vorteile

Makes fraud management easy. Saves us hours of time each week verifying credit card sales and the guarantee is great.

Nachteile

There is nothing I don't like about the software. It's easy to use and does the job.

Vorteile

actually preferred older version, easier to look up accounts, customer's

Nachteile

do not like that I have to put in parameters, prior to I would just a listing of all customer's and status.

more complicated to look up things

Vorteile

You get a yes or no answer on your credit card transaction

Nachteile

The process to file a claim was previously difficult but has drastically improved

Vorteile

We love the fact that everything Signifyd has offered us has succeeded our expectations. Our charge backs rates got significantly lower, and our order fulfillment department feels confident to send each order.

Nachteile

We only had one issue with the app, but was fixed easily by their support team. Even though this will be better if we can have more access via telephone.

Vorteile

Flags suspect purchases so we can review them

Nachteile

Sometimes seems quick to guarantee a suspect purchase. If was suspect, then why the immediate approval?

Vorteile

The first couple of chargeback they will send the reimbursement straightway, it looks easy to use and give away 1% of your gross sales which is a lot if the sales is huge

Nachteile

After few chargebacks, they will start to find the way not to reimburse for the chargeback, there is not customer service as such you need to wait for days to receive the reply

Vorteile

How easy it is to use and how seemless and fast the results are. Also, that if the merchants receive a fraud CB, then they are reimbursed, which no other fraud service provides.

Nachteile

I have had some hiccups with sales leads, however, there were changes with our Sales Director/Contact and also implementations we had to do on our side to bring the correct data for Signifyd to score, so i believe this was situational. [SENSITIVE CONTENT HIDDEN] have been great to work with!