Fraud prevention vendor Signifyd announced this week a strategic partnership with Corra, a digital agency serving primarily fashion, beauty and lifestyle brands retailers on the Magento Commerce platform.
The partnership is expected to help Signifyd expand its growing list of merchant clients on Magento, particularly among high-end retailers likely to see significant margin improvement from the company’s machine learning solution. Currently, 800 of Signifyd’s more than 5,000 merchant clients have an active presence on Magento, Signifyd told about-fraud.com.
The combination unveiled at the eTail West conference provides Corra’s high-end retail clients with access to full financial protection from fraud costs. Since Signifyd is already embedded as an extension within the current version of Magento, all merchants need to do is activate the Signifyd extension to turn on the company’s 100% chargeback guarantee against fraud.
“Signifyd’s technology, domain expertise, vast and broad list of customers and proven track record convinced us that this was an enterprise-ready partner that can help us help our customers grow and succeed, said Martina England, Corra’s director of global strategic alliances.
“We’re pleased to add Corra to our roster of high-quality partners working to bring merchants the tools they need to be competitive in the age of Amazon,” said Lee Hadsock, Signifyd’s head of partnerships, in a press release. “Corra embraces the same deep commitment to merchants that Signifyd does. We believe in doing what needs to be done to ensure that merchants are successful — and to provide fraud-protection services, technology and tools that mean they don’t have to be distracted by issues and operations that are outside the core of their businesses.”
New fraud solution for airlines
Meanwhile, ACI Worldwide and Travelport announced this week that they were partnering to deliver an intelligent fraud control and settlement solution for airline customers called Travelport Authorize Plus.
Travelport Authorize Plus enhances Travelport’s existing card payment gateway by integrating with ACI’s ReD Shield fraud prevention platform. Through the integration, Travelport can provide its airline customers with the ability to seamlessly track ticketing purchase processes right through to the completion of a journey.
According to the International Air Transport Association (IATA), the airline industry loses more than $1 billion per year to fraudsters using stolen, compromised or fake credit card details to buy airline tickets.
“We are excited to provide Travelport with the cutting-edge payments fraud management capabilities that make Travelport Authorize Plus a leading fraud tool for the airline industry,” said ACI Worldwide Vice President Andy McDonald. “When it comes to fraud control, authorization, and capture and settlement, the combination of our joint capabilities has the potential to dramatically change the way air ticket transactions are processed today.”