Signifyd Identified by Core2 Group as Most Recent “Company on the Move”

September 2014 – Core2 Group has identified Signifyd as its most recent “Company on the Move”, highlighting Signifyd’s outstanding execution and growth in the technology sector.

Signifyd has earned this achievement by demonstrating both strong performance to date and also a strong likelihood for future growth based on Core2 Group’s trajectory measurements. Signifyd joins automotive powerhouse Toyota and Silicon Valley based wealth management service, Wealthfront, on the list of companies highlighted by Core2 Group in August.

Core2 Group takes an insightful approach to performance and risk measurement, utilizing Digital Footprint DataTM gleaned from a wide range of web traffic data points combined with more traditional measurements of fiscal and commercial performance to chart industry sentiment and forecast business results. Through this analysis, Core2 Group is able to provide daily predictive insights on business, brand, and economic performance that allow their customers to dramatically outperform industry standard rates of return and return versus volatility.

Core2 Group noted that Signifyd has shown a strong increase in brand awareness since May, with an uptrend in brand momentum in 86 of the past 90 days. Further, Core2 Group’s BPI to BPI.GPS ratio, a measure of trajectory of change, suggests continued strong growth over the next several months.

The best illustration of Core2 Group’s analysis is, of course, the continued success of Signifyd customers. Signifyd is able to consistently deliver outstanding results in the areas of fraud reduction and increased operational efficiency, giving Signifyd customers a substantial advantage over those merchants using other anti-fraud solutions.

Signifyd is proud to be highlighted as a Core2 Group “Company on the Move”.

About Core2 Group
Core2 Group, Inc. is a solutions-based provider of digital activity data from website, email and machine-to-machine traffic. Offering daily predictive insights on business, brand and economic performance for small businesses and public firms, Core2 helps companies monitor and track digital performance for the company, peers and sectors. The foundation of Core2 Group’s solutions is its unique Digital Footprint Data™, a daily global authoritative data source covering 1.3+ million companies and 5000+ brands across 150+ industries and within 200 countries. Core2 currently serves several market verticals, including capital markets, small business credit risk, small business prospecting and performance, global economic insights, private equity and brand momentum. To learn more, visit www.core2group.com or email info@core2group.com.

About Signifyd
At Signifyd, we help e-commerce businesses sell confidently while protecting them from fraud. Access, Automation, and Anonymity make fraud possible at industrial scale, and most businesses simply can’t cope. They don’t have the resources or expertise to fight professional fraudsters — they’ve got a real business to run. And yet, the explosion of Customer Data means the raw materials to fight fraud are more accessible than ever. We simplify fraud prevention with tools and expertise built on our years of experience at PayPal, Fraud Sciences, RSA Security and FedEx. We know how to interpret a user’s digital footprint and bridge the gap between Online and Offline Identity. And we know how to do it without creating friction for legitimate users.

Praxis Information Science – Signifyd Partner of the Month for August 2014

Signifyd is excited to name Praxis Information Science (www.praxisis.com) as the Partner of the Month for August 2014.

Praxis and Signifyd have collaborated on several projects since Praxis joined the Signifyd Partner Program in early 2014, combining Praxis’s extensive Magento development capabilities with Signifyd’s proven eCommerce Identity Intelligence to help customers reduce fraud, accept more orders, and streamline manual investigation processes.

Praxis has a comprehensive suite of web development capabilities, specializing in custom eCommerce site design built on top of Magento’s extensible framework. Praxis can deliver end-to-end eCommerce solutions, integrating a variety of ERP and POS systems into its sites, allowing for seamless fulfillment of orders from all channels. Praxis works with its customers to optimize the eCommerce environment, reducing load times, managing traffic spikes, and creating robust plans for long-term growth.

Signifyd brings strong analytics and machine learning capabilities to Praxis, giving Praxis customers the tools necessary for the early identification of fraudulent behavior. This helps eliminate chargebacks as well as increase acceptance of orders that were previously declined or challenged due to overly restrictive security policies. Further, Signifyd eCommerce solutions can be deployed alongside other fraud tools to aid in the manual review process that has proven to be so costly and time consuming for many merchants.

Join us in welcoming Praxis Information Science to the Signifyd family, and congratulate them on being named the Signifyd’s Partner of the Month for August!

 

About Praxis Information Science
Based in Austin, Texas, Praxis specializes in building wonderful, robust shopping experiences atop the industry-leading Magento eCommerce platform. We consult with scrappy startups and Fortune 50 brands, because the next great idea might happen on the top floor or in the garage. Need help standing out, getting bigger or simply redefining what’s awesome? We can do that.

About Signifyd
At Signifyd, we help e-commerce businesses sell confidently while protecting them from fraud. Access, Automation, and Anonymity make fraud possible at industrial scale, and most businesses simply can’t cope. They don’t have the resources or expertise to fight professional fraudsters — they’ve got a real business to run. And yet, the explosion of Customer Data means the raw materials to fight fraud are more accessible than ever. We simplify fraud prevention with tools and expertise built on our years of experience at PayPal, Fraud Sciences and FedEx. We know how to interpret a user’s digital footprint and bridge the gap between Online and Offline Identity. And we know how to do it without creating friction for legitimate users.

 

Signifyd Adds Redstage Networks as New Strategic Partner

Signifyd is proud to announce a strategic partnership with Redstage Networks (www.redstage.com) as part of our Signifyd Partner Program.

This agreement brings together Redstage’s extensive web development expertise with Signifyd’s industry leading anti-fraud and business enablement solutions to help eCommerce merchants sell more products and services without the fear of fraud.

Redstage, a Magento Gold Solutions Partner, is best known for its portfolio of over 300 Magento sites, though its capabilities go much deeper than that.  As a full service web design and marketing firm, Redstage was able to help its customers increase conversions of web site visitors to eCommerce customers by 45.6% in 2013.  Redstage is one of the most advanced and experienced agencies in the industry, and its expertise compliment the Signifyd solution set perfectly.

Signifyd will offer its full line of eCommerce fraud and business enablement tools to Redstage customers, leveraging both Redstage’s and Signifyd’s strong base in the Magento community as a foundation point.  Signifyd’s proven analytics and machine learning tools give its customers deep visibility into customer identity, allowing Signifyd customers to reduce fraud, increase the number of orders accepted, and more efficiently manage manual review processes in their businesses.

Signifyd is happy to have Redstage Networks as the newest member of the Signifyd Partner Program.

 

About Redstage
We create solutions with high sales conversion through elegant technology while promoting brand experience. Our unmatched industry expertise coupled with the Magento ecommerce technology produces more sales from your digital channel. We’re a firm that’s run by accomplished business and marketing professionals and backed by a team of creative and computer science gurus. We’re truly enthusiastic about what we accomplish every day, and we enjoy working with clients that demand excellence and are equally passionate about their business.

About Signifyd
At Signifyd, we help e-commerce businesses sell confidently while protecting them from fraud. Access, Automation, and Anonymity make fraud possible at industrial scale, and most businesses simply can’t cope. They don’t have the resources or expertise to fight professional fraudsters — they’ve got a real business to run. And yet, the explosion of Customer Data means the raw materials to fight fraud are more accessible than ever. We simplify fraud prevention with tools and expertise built on our years of experience at PayPal, Fraud Sciences and FedEx. We know how to interpret a user’s digital footprint and bridge the gap between Online and Offline Identity. And we know how to do it without creating friction for legitimate users.

Signifyd Featured as Redstage’s Partner of the Month

Image

Today, we’re excited to announce that our newest partner, Redstage, featured Signifyd in their blog as part of their ‘Partner of the Month’ series. You can read the full post on Redstage’s blog. Stay tuned for when we reciprocate and feature Redstage in our blog shortly.

Interested in becoming a Signifyd Partner? 

Our Partner Program is a network of the top hosting providers, eCommerce solution providers and third party software providers. The program provides quality benefits and services that expand and enhance the functionality of our fraud prevention and chargeback protection platform. For partnership opportunities and more information on how to become a partner, please visit our partners page.

Help! I just got a chargeback!!

When setting up an online store, it can be an exciting time. You are building your website, uploading images of your items for sale and building out a loyal customer base that will help you increase sales as you lift your brand from nothing to a recognized symbol. Like many customers who have reached out to Signifyd, chargebacks and fraud was never even on their radar, until they got one.

Signifyd often receives phone calls that follow a format similar to this, “Hi, this is Joe from ABC company and I need help right away. I just got an email from my bank telling me that they are reversing the funds on this really expensive order and I don’t know what to do. The guy sounded legit, I looked him up but now he is saying he didn’t place that order but I already shipped the product. I need to prove that he placed the order!!”

Such frantic phone calls are often heartbreaking because more often than not the merchant who called in is ultimately going to lose out on both their cash and their product. Banks frequently side with the cardholders, and re-reversing funds is very difficult. Many merchants don’t take into account that fraudsters will answer the phone and talk to them, or that a fraudster will manipulate his IP address to give the appearance of living at the cardholders residence. Even worse are legitimate cardholders with a history of buyers remorse or are purposely seeking to steal online through the chargeback process.

So when merchants first start selling online and they see an odd order, it’s not unusual to them that if they should be able to get a hold of the customer that they should be able to ‘sort things out’. It is only after they realize that they have been duped do they become fully aware of the risks of selling online. But selling online is the future, and is on pace to replace retail shopping. So learning about chargebacks is very important for merchants looking to avoid them.

To learn fully about chargebacks, check out a previous post that Signifyd wrote up that helps define what is a chargeback. In todays post though, lets get the facts on the table. The fact is, if you have a chargeback there is very little you can do about it. The key is learning how to avoid them, and there is a tool on merchants side. Everyone online leaves a digital footprint. From the devices they use, the social networks they log into or the emails and phone numbers they register online. From the moment they create any kind of a presence, it has a history and that history can be either good or bad but it is never neutral. And that history can be tracked and is by companies like Signifyd.

Currently only about 5% of all shopping is done online, and yet that number poised to explode in the coming years. With that expansion is going to come all sorts of histories that internet users are going to leave behind. Every email, every IP address, ever card used is going to have a history of good transactions or of fraudulent ones. The key is to find and utilize that data in the fight against chargebacks.

Don’t fight chargebacks, avoid them.

Signifyd has an enormous database of knowledge, and plugs into other database providers to fill in the gaps that we currently don’t have to provide a global user database of internet history. Every time a shopper makes a purchase from one of our merchants, we can tell that merchant if the IP, phone number, device, card, email, and address or social media account is a good account or if it has fraud or chargebacks in its past.

Research shows that in the war against online thefts, the trend is going away from one off users making bad purchases online and is going towards cyber gangs who steal online. Therefore, if a Russian gang for example steals an American’s credit card and places a delivery address that Signifyd has registered as a bad address known for fraudulent orders or is associated with chargebacks, Signifyd can alert the merchant and advise them to cancel the order.

Tracking all of these histories by themselves would be an arduous task for any one merchant to tackle by themselves, but with Signifyd merchants get unprecedented analysis into their customers and who is most likely a good customer and who will likely place a chargeback.

So if you are a small but fast growing merchant who has just been hit by a chargeback, we offer our condolences. It’s a brutal growing pain, and likely won’t be the last chargeback you ever go through. But the collective power of the Internet is a tool that’s on your side through Signifyd, and together we can stop those who would seek to steal from you.

If you are a merchant who is suffering from chargebacks, consider signing up for a 2 week free trial with Signifyd and witness for yourself what professional fraud prevention services can do for you company and bottom line. Reach us at sales@signifyd.com

E-Commerce grew 16.9% in 2013 and here is what you need to do about it

16.9 percent. As you read through this article, keep that number in mind. 16.9 percent. That is the percentage growth of ecommerce sales that 2013 had over 2012. It might be hard to imagine that ecommerce could have that high of a growth rate when seemingly there are endless amounts of websites already selling on the web and online giants such as Amazon have the appearance of dominating online sales. But ecommerce according to the US Census Bureau is poised for unprecedented growth. According to a report that was released on February 18th, ecommerce had $263.3 Billion dollars in sales in 2013. That number though amounts to a measly 5.8% of total sales in America.

ecommerce growth 2013

As we can see, the pace of ecommerce growth is growing at a faster rate year over year. Just in the news today was the announcement that yet another large brick and mortar company, Radio Shack, was closing 20% of its stores as it lost too many sales to online stores. For merchants who already have online stores and for entrepreneurs looking to jumpstart a new store online, this is the perfect time to start.  As a new generation of shoppers looks to buy, consumers who were handed a tablet and a smartphone before they were given car keys will naturally look to purchase online before heading out to the mall.

Every year Cyber Source releases a fantastic report that is more or less a ‘state of the union’ on the current state of ecommerce. Cybersource, a property of Visa, highlights the security measures that merchants must take to protect themselves as they sell online. In its latest report, Cyber Source estimated $3.5 Billion was lost to fraudulent activity and chargebacks online. To put that number truly into perspective, consider this. In 2013 retail stores had final sales of $5.085 TRILLION dollars, and if they had equal losses it would come to $67,630,500,000.

Clearly, online retailers can do and must do more to ensure that as ecommerce begins its stratospheric growth that fraudsters and crooks who traditionally stole from retail stores don’t bump that percentage higher once they switch to online stores. The question then is how do merchants who are just starting a store online know how to protect themselves properly from the faceless masses on the internet?

Well luckily for online merchants, as ecommerce has grown so has new fraud prevention solutions. Companies such as Signifyd, who gather hundreds of data points on shoppers from sources such as social media, previous shopping history from other merchants and offline checks such IP location and device fingerprinting, can provide instant analysis as to who would be a trusted buyer online and who are bad shoppers likely to steal or initiate a chargeback.

Data breaches at companies such as Niemen Marcus and Target have given cyber crooks countless cards to steal with. As we can see from the Census Bureau statistically those cards will be used against retail stores, but as we enter this exciting time of ecommerce growth lets collectively make sure that we protect ourselves with the proper tools like Signifyd before those crooks use most of those cards against internet retailers.

14 reasons every online store needs to get fraud protection

Companies that sell on the internet are on the hook for any stolen credit cards they accept. This means that unless they want to lose a lot of cash to people who stole credit cards, almost every company has at least one individual checking their customers orders before they ship. But for many web based companies, ‘validating their orders’ tends to mean one or two people who are given minimal resources and tasked with the enormous goal of approving all the ‘good customers’ and cancelling all the ‘bad orders’. Here is 14 quick points on why online stores need to get serious about protecting themselves from fraud lest they drive their fraud prevention staff insane.

  1. Your online store has started to process bad credit cards, and no one has a gameplan on what to do.

tumblr_mmyrbiLIyA1rfzzkxo1_500 I don't know what to do

2. Your quick solution is to look up your customers on the web, which turned out to be a big task.

anigif_enhanced-buzz-18034-1381104650-21 Will Ferrel

3. Your company spends hours on Google, and yet you can’t ever find your customers.

anigif_enhanced-buzz-19423-1374638406-9 yeah, you failed

4. You were already an indecisive person before having to decide what orders are good and what orders are bad, and now every decision is a fight against analysis paralysis. 

anigif_enhanced-buzz-15242-1374670158-37 Aladin

5. Your decisions are almost entirely based on gut feelings, and you want/need the data to back up your instincts.

anigif_enhanced-buzz-24198-1382405513-11 Anchorman

   6. When Google and Facebook aren’t enough, you have to call your customers.

anigif_enhanced-buzz-4529-1380929532-10 parks and rec 2

    7. But calling customers is a pain for you and an annoyance for them.

anigif_enhanced-buzz-4202-1380929257-4 Anne from parks and rec

     8. And you have so many customers!

   spn-0-dustily we got work to do

     9. And your company recently started taking international orders, so you can only pray that your customers from Japan and Vietnam somehow speak English.

speak english

                                                 You suddenly discover how much you love Google translate

    10. You have to double check your customers address by where they made their purchase, and are suddenly introduced to the complicated world of IP’s. (Internet Protocols)

spying catWe swear we aren’t spying!

    11. Except that people can hide their true location online, and your sociology degree from college didn’t train you in how to detect fake IP’s.

dog at computer

    12. You find yourself dumbfounded by the email aliases people use, and find new found respect for customers who have simple first name, last name email addresses. 

74124-nathan-fillion-judging-you-gif-4v9D judging you

13. You also learn that the numbers on a credit card are not random, but are part of what is called the Bank Identification Number which helps track the card by country and bank issuer. 

that is brand new information

14. But now your boss is wondering why it’s taking you 15 minutes to look up all this information for each customer and talk to said customer, if you can even find them. 

overwhelmed girl

15. Which is why fraud prevention companies like Signifyd exist to make your life 1,000 times easier.

Yes_ye_syes yes!

Follow

Get every new post delivered to your Inbox.

Join 538 other followers