Regional team will help LATAM enterprises boost ecommerce revenue and eliminate online fraud and consumer abuse
Signifyd announced the opening of its Latin American headquarters, as the global Commerce Protection Platform provider accelerates its expansion in the region and widens its mission of increasing ecommerce conversion and eliminating fraud as a drag on retail revenue.
Signifyd’s newest location will allow it to better serve its Latin American customer base while bringing its peerless fraud protection and consumer abuse prevention technology to enterprises in one of the fastest-growing markets in the world.
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The Latin American team will be led by Regional Director, Latin America, Christian León, a retail and payments industry veteran, with years of experience finding creative solutions to optimize online revenue.
“Retailers in the region face two key challenges when it comes to growing their revenue,” León said in announcing the new Mexico City headquarters. “The first is low approval rates caused by unnecessary false declines. The other is fraud losses brought about by legacy risk-management solutions that can’t dynamically adjust to the changing face of fraud. Signifyd has the right technology and the right team to solve both challenges and I’m very happy to be a part of the solution.”
Signifyd’s Commerce Protection Platform — consisting of the Revenue Protection, Abuse Prevention and Payments Compliance solutions — uses machine learning and big data to instantly sort legitimate from fraudulent orders and prevent consumer abuse in the form of false chargeback claims and promotion abuse.
Signifyd is growing its footprint in Latin America on the strength of its technology, domain expertise and the financial guarantee that makes merchants whole for approved orders that later result in chargebacks. It has partnered with the region’s leading retailers and some of its largest, including Walmart in Mexico which has shown a double-digit percentage increase in approved transactions with Signifyd’s Commerce Protection Platform.
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“Since we implemented Signifyd’s solution we have seen an increase in conversion rates and customer satisfaction,” said Blas Caraballo, VP of Digital Payments and Financial Services for Walmart Mexico.
Signifyd delivers revenue lift through the power of its Commerce Network of thousands of merchants selling across the globe. The size of the network means that Signifyd has prior knowledge of more than 98% of consumers shopping online.
By harnessing machine learning, the platform automates online order flows, all but eliminating the need for time-consuming manual reviews. It triages abuse chargebacks stemming from customer disputes and allows enterprises to customize their efforts to stop promotion abuse and to thwart unauthorized resellers.
The solutions are backed by a financial guarantee, meaning retailers and brands can accept and approve more orders, thereby increasing revenue and creating a better customer experience by ensuring shoppers are not frustrated by delayed orders and false declines.
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