Signifyd’s Fearless Payments empowers PSPs to increase authorization rates

Signifyd has launched Fearless Payments for payment providers, a suite of solutions that empowers payment service providers (PSPs) to increase authorization rates while lowering their operating costs and providing their customers with a full financial guarantee against all types of chargebacks.

Fearless Payments arms payment service providers with Signifyd technology that sets them apart from their competitors and unlocks additional revenue for their customers by boosting order approval rates by 5% to 9%. Precisely optimizing payments is the next frontier in digital commerce.

Signifyd’s solution provides payment providers — the conduit for transaction traffic among credit-card issuing banks, online merchants and their banks — the advantage they seek amid competition to attract and retain merchant customers.

The launch of Fearless Payments moves Signifyd squarely into serving the financial services sector, bringing to the segment the largest enterprise commerce network outside of Amazon and the transaction intelligence that comes with that magnitude of scale.

The new solution repairs the data disconnect that has historically meant good orders are declined for fear of fraud.

“Fearless Payments enables payment service providers to better serve their merchants by boosting their solutions and their transaction intelligence with Signifyd’s vast Commerce Network of thousands of merchants and leading machine learning decisioning capabilities,” Signifyd Vice President of Product Gayathri Somanath said.

Until today, key players in the payments infrastructure made decisions with obscured visibility, relying on limited silos of data. Fearless Payments mitigates data fragmentation and provides PSPs with the comprehensive view of ecommerce transactions needed to improve authorization rates while protecting merchants from fraud.

Additionally, Signifyd has built direct relationships with some of the largest credit-card issuers in the world to further improve the false decline problem and increase approved transactions for merchants and PSPs.

That comprehensive view ultimately reduces the number of authorization requests that are incorrectly declined for fear of fraud.

Fearless Payments’ Payment Optimization Platform comprises five solutions that together give PSPs the opportunity to provide merchants with unparalleled service and security.

They are:

  • Automated risk decisioning: Assesses the risk behind every transaction and instantly sorts fraudulent from legitimate orders.
  • Authorization rate optimization: Provides partner issuers and financial institutions with enhanced data, leading to an increase in authorization approvals.
  • Guaranteed chargeback protection: Provides a full financial guarantee against fraud and non-fraud chargebacks on all approved orders.
  • Chargeback recovery: A managed service that relieves merchants of the task of managing and contesting chargebacks.
  • Dynamic exemption management: Identifies orders that are exempt from strong customer authentication (SCA) requirements, while seamlessly navigating PSD2 requirements in Europe.
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