Ecommerce fraud protection provider Signifyd has announced it will be DNA Payments’ exclusive integrated fraud protection technology
Signifyd, a provider of complete security trading platforms, has announced that it is an integrated security technology integrated into the DNA Payments exhibition.
Signifyd’s fraud prevention technology is based on machine learning (ML) and a wealth of marketing data to understand the identity and purpose of each order. The answer depends on Signifyd’s Commerce Network’s marketing strategy, which consists of thousands of merchants and gateways around the world.
“Signifyd’s choice of DNA payments as a fraudulent solution for customers demonstrates the market’s confidence in Signifyd’s business security technology,” said Raj Ramanand, CEO, and co-founder of Signifyd. “This partnership means thousands of other merchants will be able to release the money left behind by fraudulent answers.”
Joining forces on transaction intelligence
Founded by Arif Babayev and Nurlan Zagiparov, DNA Payments Limited is one of the largest independent fully integrated Omnichan payment companies in the UK and EU.
It is also one of the largest providers of PaaS and SaaS for the multidisciplinary acquisition of banks. DNA Payments currently earns more than £ 900 million a month and has more than 100,000 service stations and over 65,000 customers in the UK and EU.
“The strong partnership brings together one of the world’s fastest-paying companies and a leader in e-commerce fraud prevention. It combines two powerful markets: a fixed data stream of £ 900 million a month and thousands of Signifyd networks. Together, intelligence is unmatched,” said Mark. Whybrow, Head of Email Marketing for DNA Payments.
Reducing false declines
Significant fraud prevention technology has helped thousands of retailers avoid congestion, drastically reducing false positives and eliminating fraudulent transactions, while showing the potential to increase the number of confirmed orders from 5% to 9% on average.
While fraud accounted for 2% of online transactions in 2021, an analysis of Sigifid data shows that retailers regularly reject 14% of orders, many of which, according to 451 Research, try to prevent fraud. Fear of fraud causes a decline. CMSPI, a global payment consultant, estimates that a 20% drop in Europe is a false positive, meaning a loss of sales and possibly a loss of consumers.