Signifyd API Adds Fraud Prevention to Ecommerce Platforms

Eric Carter, Founder & Corporate Counsel, Dartsand
Dec. 23 2013, 09:05AM EST

Signifyd, ecommerce fraud prevention service, allows developers to integrate the service with third party ecommerce platforms through the Signifyd API. The Signifyd service uses a number of data points, and allows users to give greater importance to certain points depending on need, to develop a risk score and develop a fraud assessment. From social media activities, to bank data, Signifyd takes a holistic approach to fraud prevention.

Co-founder and CEO, Rajesh Ramanand explained:

"What we are doing differently in the industry is bringing in new types of data sources to be able to make better risk decisions, to be able to add less friction to your good users while declining the bad ones. When we say we fight fraud using the social graph, we are not thinking only about LinkedIn, Twitter and Facebook, but also about disparate sources of data that connect the offline identity of a user with the online persona they claim to be."

Ramanand and co-founder, Mike Liberty, founded Signifyd after two trends made themselves painstakingly clear. First, online merchants' review teams utilized terribly manual processes that were time consuming and incomplete. Second, the number of SMBs moving to an online method of delivery was growing, and probably not looking back. Building off their experiences in fraud prevention with the likes of industry giants (e.g. PayPal, FedEx, GWC Warranty, etc.), Ramanand and Liberty launched Signifyd to address fraud prevention shortcomings.

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The Signifyd API uses REST protocol and returns calls in a JSON data format. Developers can add and remove search fields as they determine. Data points available through the API include IP address, order string, timestamp, gateway, address verification, credit card verification, price, shipping price, and many more. For more information, visit the API docs.

We remain in the heart of the holiday shopping season. As consumers continue to flock to the online marketplace, and merchants continue to meet consumers in the virtual world, manual fraud prevention simply won't cut it. Signifyd provides an complete approach to fraud prevention that relieves review teams of traditionally manual tasks.

Eric Carter Eric is the founder of Dartsand and Corporate Counsel for a specialty technology distributor. He is a frequent contributor to technology media outlets and also serves as primary legal counsel for multiple startups in the Real Estate, Virtual Assistant, and Software Development Industries. Follow me on Google+

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