Signifyd, a leading e-commerce fraud protection company, today announced the launch of the Signifyd app for Stripe as part of the new Stripe App Marketplace, providing instant information about chargeback claims directly on Stripe Dashboard.
With the Signifyd for Stripe app, Stripe customers protected by the Signifyd Chargeback Recovery solution will no longer need to access different websites to monitor the status of their chargebacks and updates on claims regarding refund claims.
“Stripe’s decision to invite Signifyd to its newly launched app marketplace further confirms the value we provide to merchants,” said Gayathri Somanath, Vice President of Product at Signifyd. “More importantly, this ensures greater ease and efficiency for Stripe and Signifyd Chargeback Recovery customers at a time when agility is an essential aspect of being successful in the online world. Merchants simply don’t have time to waste on expendable activities in the age of modern e-commerce.”
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After installing the Signifyd for Stripe app, risk analysts and chargeback operations teams can count on seamless integration into their Stripe visualization dashboards, which highlights Signifyd and Stripe’s commitment to delivering value to merchants’ businesses. With the Signifyd app, Stripe Dashboard lets you easily see each individual chargeback case. This visibility provides not only valuable information about the current state of chargebacks but also a clear view of chargeback patterns, as well as the ability to identify recurring issues that can be rectified to reduce chargeback cases.
The Signified Chargeback Recovery product addresses these issues:
- Friendly fraud, when a cardholder fails to recognize a charge and opens a chargeback request, or a family member makes a purchase by accident or without the knowledge of the corresponding cardholder.
- Consumer abuse or chargeback fraud, when a legitimate cardholder makes a purchase with their own card but claims never to have made it.
- False claims that a product never arrived, was delivered in poor condition, or was not as described.
Chargebacks are becoming an increasing problem for merchants, who have seen pressures from fraud, friendly fraud, consumer abuse and customer inquiries increase dramatically during the pandemic, according to data from Signifyd. Overall fraud pressure — a measure of orders with enough warning signs to be considered fraudulent — was more than 400% higher at the end of Q1 2022 than before the pandemic. And during the first quarter of 2022, there was 150% more consumer abuse compared to the pre-pandemic period, according to e-commerce survey data conducted by Signifyd.
With a quick and efficient way to track these complaints and their results on the Stripe platform, Signifyd Chargeback Recovery customers can now count on a fundamental step in the effort to control the increase in fraud and abuse cases.
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