Signifyd has launched its Authorization Rate Optimization solution, a new tool which will help online retailers maximise conversion rates and protect themselves from fraud.
The new solution will leverage machine learning and data from Signifyd’s network to root out fraudulent orders which have been presented to payment gateways for authorisation.
Its new products will protect merchants from paying authorisation fees on declined orders which never materialise, improves their standing with payment gateways and banks gives retailers maximum visibility into heir authorisation rates, it claims.
Signifyd co-founder and chief product officer Michael Liberty said, “We’re moving to an earlier stage of the checkout, now applying Signifyd’s machine learning expertise and technology to increase authorisation rates for some of the world’s largest enterprise retailers.
“Our Authorization Rate Optimization tool is an extension of our Commerce Protection Platform and is particularly critical at a time when retail margins are under intense pressure. It provides customers the best authorisation rates in the industry while giving them full visibility into the entire order flow from cart conversion to final fulfilment.”
Earlier in year, Signifyd offered free tools and services to help companies cope during the coronavirus pandemic. The company is offering a bundle of free tools and discounted services which will help retailers get back to operational speed during this time.
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