Signifyd Pricing, Features, Reviews and Alternatives

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.

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.

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

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

fraud/customer review. quickness of reimbursement once approved

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

We've been using the product since 2016. As I recall, the implementation was quick and painless. The team at Signifyd guided us through the entire process. The software is a game-changer. I utilize it as a first pass. Then review any and all orders in the declined phase. We resubmit many of those orders for a manual secondary review by the Signifyd staff. The turnaround time for the secondary reviews is extremely fast and the decisions are well documented.

The only immediate downfall I can think of is the inability to keep internal notes for declined orders. We use a secondary system to capture notes about the declined orders and actions taken after our final review is completed.

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.

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.