Signifyd, a leading e-commerce security provider, today announced a partnership with Google Cloud that will further strengthen online commerce. The partnership brings together Signifyd’s e-commerce protection platform and Google Cloud Marketplace’s reCAPTCHA Enterprise, which protects websites from fraudulent activity, spam and abuse.
Signifyd specializes in e-commerce fraud prevention and now also offers return protection on the Google Cloud Marketplace. The combination of Signifyd’s machine learning and reCAPTCHA Enterprise solutions will increase e-commerce’s ability to detect malicious actors and prevent fraud.
“Helping e-commerce sites protect their sites from fraudulent activity is important to preserving the overall user experience,” said Cy Khormaee, product manager, Google Cloud. “We are excited that the Signifyd eCommerce Security Platform is available on the Google Cloud Marketplace and that, together with Google Cloud’s reCAPTCHA Enterprise, it makes it easier for customers to access the technologies they need to ensure the customer shopping experience.”
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As e-commerce gained prominence in retail, fraud attacks increased and became more sophisticated. E-commerce is therefore challenged to protect itself without creating barriers that frustrate legitimate consumers and reduce customer lifecycle value.
“We’re excited to partner with Google Cloud to help protect businesses from payment fraud,” said Raj Ramanand, Signifyd’s CEO. “With reCAPTCHA and Signifyd, we offer a complete and innovative solution not only to protect against fraudulent orders, but also to ensure that legitimate orders are not rejected.”
Together, Google Cloud’s Signifyd eCommerce Protection Platform and reCAPTCHA Enterprise bring together behavioral and transactional intelligence across the entire digital shopping journey, including page, page, checkout and post-payment. E-commerce orders, offers smart solutions to manage business protection policies and offers financial guarantee against cancellation of approved orders.
Further deepening its relationship with Google Cloud, Signifyd also announced that it has become a pioneer among fraud prevention providers by adding Google Cloud to its list of technologies.
Signifyd’s partnership with Google Cloud helps e-commerce companies solve a long-standing challenge: retailers’ traditional reliance on limited vision when it comes to payment security. Retailers, financial institutions and payment service providers often work independently to address risks with isolated data sets. As a result, some e-commerce sellers reject up to 10% of orders — and sometimes more — according to Signifyd, while financial institutions reject additional sales as part of efforts to protect consumers from fraud.
While some merchants continue to rely on legacy fraud solutions, fraud circles continue to innovate. Fraudsters are increasingly using automated attacks to operate at scale as they launch card attacks to confirm stolen payment credentials, attempt to break into accounts, and capture a limited product market through scalping and illegal reselling. Bot attacks are up 151% today compared to the same period a year ago, according to Signifyd.
The addition of Google Cloud to Signifyd’s list of technologies and the addition of Signifyd’s solutions to Google Cloud Marketplace gives brands the increased scalability, availability and visibility needed to manage fraud and abuse in the new era of e-commerce. Analysts noted that companies are increasingly turning to Google Cloud Platform for its exceptional ability to support advanced applications and data management, as well as the easy API integration it offers with other cloud-based solutions.
Raj Ramanand, CEO of Signifyd, will join Cy Khormaee, Product Manager, Google Cloud, at Google Cloud Next 22, which starts in October in English).
To learn more about Signifyd, visit the Google Cloud Marketplace today.
About the Marked
Signifyd offers a comprehensive e-commerce protection platform that leverages its e-commerce network to increase conversions, automate the customer experience, and eliminate the risk of e-commerce consumer fraud and abuse. Signifyd’s solutions provide the transparency and control brands need to succeed in the dynamic world of e-commerce. Signifyd, a 2022 Top 1,000 eCommerce payment security and fraud prevention provider, is headquartered in San Jose, California with locations in Denver, New York, Mexico City, Sao Paulo, Belfast and London.
See the original version on businesswire.com: https://www.businesswire.com/news/home/20221011005503/en/
Mike Cassidy Head of PR & Storytelling Signifyd firstname.lastname@example.org
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