Signifyd Antifraud App Available to Magento Merchants

April 14, 2016

Signifyd Antifraud App Available to Magento Merchants Antifraud technology provider Signifyd this week unveiled a partnership with Magento under which the e-commerce platform’s merchant customers can use Signifyd to fully automate their fraud prevention efforts. The San Jose, Calif.-based company will make an app available to Magento customers on the Magento marketplace. Signifyd is one of a growing number of antifraud technology providers that delivers a binary accept/decline decision on orders and backs the decision up with a guarantee to cover any chargeback costs if an approved order turns out to be fraudulent.

“E-commerce companies shouldn’t have to worry about fraud,” said Skye Spear, senior director of partnerships and business development at Signifyd. “We’re excited to partner with a prestigious, far-reaching platform like Magento that can leverage our tools and power more merchants worldwide.”

The partnership with Magento comes on the heels of a $20 million capital raise completed in February led by Menlo Ventures, with additional participation from Allegis Capital, IA Ventures, QED Investors, Bill McKiernan and Tim Eades.