Signifyd, the leader in ecommerce fraud protection, announced the launch of the Signifyd app for Stripe as part of the new Stripe App Marketplace, providing instant chargeback claims insights directly through the Stripe Dashboard.
“Stripe’s decision to invite Signifyd into its newly launched app marketplace is further validation of the value we provide for merchants”
The Signifyd App for Stripe means Stripe customers protected by Signifyd’s Chargeback Recovery solution will no longer need to move among digital sites to track chargeback status and request updates on the reimbursement status for claims.
“Stripe’s decision to invite Signifyd into its newly launched app marketplace is further validation of the value we provide for merchants,” said Signifyd VP of Product Gayathri Somanath. “More importantly, it makes life easier and more efficient for Stripe and Signifyd Chargeback Recovery customers at a time when speed is essential to online success. Merchants simply don’t have time to endure wasted steps in the modern ecommerce era.”
After installing the Signifyd App for Stripe, risk analysts and chargeback operations teams can enjoy seamless integration into their Stripe dashboards, underscoring Signifyd and Stripe’s commitment to adding value to merchants’ businesses. With the Signifyd app, the Stripe Dashboard provides easy visibility into each individual chargeback case. Such visibility not only provides insights into the current state of chargebacks, but it provides a clear view of chargeback patterns and provides the ability to identify ongoing issues that could be rectified to reduce chargebacks.
Signifyd’s Chargeback Recovery product addresses the problems of:
Friendly fraud — a cardholder fails to recognize a charge and files a chargeback — or a family member makes a purchase by accident or unbeknownst to the cardholder.
Consumer abuse or chargeback fraud — a legitimate cardholder makes a purchase with their own card, but claims they never made the purchase.
False claims that a product never arrived or arrived in poor condition or otherwise not as described.
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Chargebacks have become an increasingly severe pain point for merchants, who saw fraud pressure, friendly fraud, consumer abuse and customer disputes increase dramatically during the pandemic, according to Signifyd data. Overall fraud pressure — a measure of orders with sufficient red flags to be considered fraudulent — was more than 400% higher by the end of Q1 2022 than it was prior to the pandemic. And during the first quarter of 2022, consumer abuse was up more than 150% compared to pre-pandemic days, according to Signifyd Ecommerce Pulse data.
Having a quick and efficient way for Signifyd Chargeback Recovery customers to track those claims and their outcomes on the Stripe platform is a key step in the effort to tame the increase in those areas of fraud and abuse.