Signifyd

Financial fraud detection platform for online retailers

4,6 /5 (44 reviews) Write a Review!

Signifyd Overview

What is Signifyd?

Signifyd is a cloud-based financial fraud protection platform, which helps eCommerce businesses automate order fulfillment, track fake and legitimate orders, and securely process payments. Features include data authentication, email invitations, role-based permissions, and merchant on-boarding.

The application helps stakeholders identify various issues such as unauthorized resellers, account takeover, and promotion abuse to avoid chargebacks and complaints. Retailers can also generate historical reports for orders, review sales performance, and monitor fraudulent trends for domestic and international purchases. The platform lets operators create automated responses for chargebacks using machine learning technology and view transaction operations through an agent console. With Signifyd’s case console, merchants can investigate orders for fraud by verifying the customer’s delivery address, device, and email.

Signifyd integrates with multiple third-party eCommerce platforms and payment gateways including Shopify, BigCommerce, Magento, Stripe, PayPal, and Salesforce Commerce Cloud. Owners can use the reporting dashboard to view and export pending orders, claims, past order decisions, and reimbursements in CSV format.

Signifyd Overview

Pricing

Starting from
N/A

Pricing options

Free Trial
Value for money

Contact Signifyd for pricing details


Signifyd Features

Devices
Business size
S M L
Markets
United States
Supported Languages
English

Media

Signifyd reporting dashboard
Signifyd Magento extension setup
Signifyd order approval email
Signifyd video Signifyd screenshot: Signifyd reporting dashboard Signifyd screenshot: Signifyd Magento extension setup Signifyd screenshot: Signifyd order approval email

Signifyd Reviews

Signifyd Reviews

Overall rating
4,6
/
5
Excellent
34

Very good
5

Average
4

Poor
0

Terrible
1

Value for Money
4,5
Features
4,6
Ease of Use
4,7
Customer Support
4,4
89% recommended this app
Verified Reviewer

Say goodbye to Chargebacks

Overall it has saved us thousands of dollars and the team has reembursed us a number of times already for chargebacks on orders they approved. Highly recommend for any US eCommerce vendor.


Kaitlin M.

Happy customer for 5 years

We do not need to dedicate resources to fraud management. We can leave this to Signifyd and trust the outcome of their decisions.


Justin C.

Good idea and review but a bit pricey and leaves coverage gaps

generally good idea but gaps in coverage (what is reimbursable) and claim time frame can be greatly improved.


Matt G.

Great and easy to use

It has saved us so much time scrutinizing orders. We can just take care of fulfilling and not worry about if an order is fraud or not. This also helps us be less confrontational with customers on orders that look suspicious. Many are, in fact, fine.


Amanda J.

Easy to Understand Background Program

We have been using Signifyd for several years after receiving multiple fraudulent orders and paying a lot in chargeback fees. We saw an immediate improvement in our orders and have saved a lot of money, time, and customers the trouble related to these fraudulent orders. Mostly it works in the background so we can worry about other parts of our business. When an order is flagged, we have the option to appeal it, which we have done on occasion. In the years we have had it, I can only think of a couple of instances where their decision was a problem for us. To err on the side of safety, we did take Signifyd's recommendation and cancelled the orders. It is difficult to tell a little old lady making her first online purchase (who did not sound at all like a criminal mastermind) that we could not fulfill her order because it was flagged as possibly fraudulent.


Verified Reviewer
Industry: Apparel & Fashion
Company size: 11-50 Employees

Say goodbye to Chargebacks

Used Weekly for 2+ years
Reviewed on 2019/05/09
Review Source: Capterra

Overall it has saved us thousands of dollars and the team has reembursed us a number of times already for chargebacks on orders they approved. Highly recommend for any US eCommerce vendor.

Pros

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.

Cons

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 9.0/10

Kaitlin M.
Industry: Apparel & Fashion
Company size: 10 000+ Employees

Happy customer for 5 years

Used Daily for 2+ years
Reviewed on 2019/10/21
Review Source: Capterra

We do not need to dedicate resources to fraud management. We can leave this to Signifyd and trust the outcome of their decisions.

Pros

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

Cons

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Justin C.
Industry: Retail
Company size: 51-200 Employees

Good idea and review but a bit pricey and leaves coverage gaps

Used Daily for 1+ year
Reviewed on 2020/03/13
Review Source: Capterra

generally good idea but gaps in coverage (what is reimbursable) and claim time frame can be greatly improved.

Pros

fraud/customer review. quickness of reimbursement once approved

Cons

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 3.0/10

Matt G.
Industry: Retail
Company size: 11-50 Employees

Great and easy to use

Used Daily for 1+ year
Reviewed on 2020/03/23
Review Source: Capterra

It has saved us so much time scrutinizing orders. We can just take care of fulfilling and not worry about if an order is fraud or not. This also helps us be less confrontational with customers on orders that look suspicious. Many are, in fact, fine.

Pros

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.

Cons

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Amanda J.
Industry: Retail
Company size: 11-50 Employees

Easy to Understand Background Program

Used Daily for 2+ years
Reviewed on 2020/03/17
Review Source: Capterra

We have been using Signifyd for several years after receiving multiple fraudulent orders and paying a lot in chargeback fees. We saw an immediate improvement in our orders and have saved a lot of money, time, and customers the trouble related to these fraudulent orders. Mostly it works in the background so we can worry about other parts of our business. When an order is flagged, we have the option to appeal it, which we have done on occasion. In the years we have had it, I can only think of a couple of instances where their decision was a problem for us. To err on the side of safety, we did take Signifyd's recommendation and cancelled the orders. It is difficult to tell a little old lady making her first online purchase (who did not sound at all like a criminal mastermind) that we could not fulfill her order because it was flagged as possibly fraudulent.

Pros

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.

Cons

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 9.0/10

User recommendation
9,2/10
Based on 44 user ratings
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Signifyd Pricing

Signifyd Pricing

Starting from
N/A
Free Trial
Value for money

Contact Signifyd for pricing details

Contact Signifyd for pricing details

Value for Money
4,5/5
Based on 44 user ratings
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Signifyd Features

Signifyd Features

API
Accounting Integration
Accounting Management
Activity Dashboard
Audit Trail
Automatic Notifications
Billing & Invoicing
Compliance Management
Customizable Reporting
Data Import/Export
Electronic Payments
Expense Tracking
Financial Analysis
Invoice Management
Invoice Processing
Multi-Currency
Real Time Data
Reporting & Statistics
Third Party Integration
Workflow Management
Features
4,6/5
Based on 44 user ratings
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Categories

Signifyd FAQs

Signifyd FAQs

Below are some frequently asked questions for Signifyd.

Q. What type of pricing plans does Signifyd offer?

Signifyd offers the following pricing plans:

Free Trial: Available

Contact Signifyd for pricing details

Q. What are the main features of Signifyd?

We do not have any information about Signifyd features

Q. Who are the typical users of Signifyd?

Signifyd has the following typical customers:

Small Business, Large Enterprises, Mid Size Business

Q. What languages does Signifyd support?

Signifyd supports the following languages:

English

Q. What type of pricing plans does Signifyd offer?

We do not have any information about what Signifyd pricing plans

Q. Does Signifyd support mobile devices?

We do not have any information about what devices Signifyd supports

Q. What other apps does Signifyd integrate with?

Signifyd integrates with the following applications:

Adyen, Authorize.net, Braintree, Magento Commerce, PayPal, Salesforce B2C Commerce, Shopify, Stripe

Q. What level of support does Signifyd offer?

Signifyd offers the following support options:

Phone Support, Online Support, FAQs, Knowledge Base