Security News > 2020 > June > Signifyd unveils tool that enhances authorization-stage order approvals for retailers

Signifyd announced the launch of its Authorization Rate Optimization solution, a powerful tool to maximise online retailers' conversion rates and protect them from authorization-stage order declines that have become increasingly costly as fraud rings have become increasingly sophisticated.

Authorization Rate Optimization allows retailers to maximise revenue from online transactions by harnessing machine learning and data from Signifyd's vast Commerce Network to weed out fraudulent orders before they are presented to payment gateways for authorization.

The new enterprise-grade feature protects merchants from paying authorization fees on declined orders that never materialise, improves their standing with payment gateways and banks and gives retailers maximum visibility into their authorization rates and the ways in which Authorization Rate Optimization is improving those rates.

"Our Authorization Rate Optimization tool is an extension of our Commerce Protection Platform and is particularly critical at a time when retail margins are under intense pressure. It provides customers the best authorization rates in the industry while giving them full visibility into the entire order flow from cart conversion to final fulfillment."

While publicly available research has estimated that 15% of attempted ecommerce transactions are typically declined up front by payment gateways and banks, Signifyd has worked with retailers who were seeing as many as 40% of their orders declined at the authorization stage.

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