B2B payments specialist Adflex has announced a partnership with Signifyd, a provider of commerce protection, to enhance security checks and reduce fraud for its merchant customers via machine learning, AI, and velocity checks.
Adflex processes over seven million supply chain transactions a year for more than 4,000 businesses, including some of the world’s largest enterprises. It uses EMV 3-D Secure to offer seamless authentication to its e-commerce customers and is now bringing additional fraud protection to its user base by integrating Signifyd’s machine-learning technology into its B2B payment offering via API.
Signifyd’s platform will enable Adflex to make use of machine learning and big data to automate online order flows and separate fraudulent and legitimate orders in real-time, giving Adflex’s merchant customers complete trust that their transactions are authentic and secure.
The integration will also automatically perform velocity checks to instantly assess and identify irregular payment patterns that could indicate fraud. These checks are designed to monitor the pace at which buyers submit transactions, helping to identify and intercept fraudsters that seek to quickly max out stolen card details.
On average, users of Signifyd see an eight per cent increase in accepted orders. The company uses big data and machine learning to provide a 100 per cent financial guarantee against fraud and chargebacks on approved orders, optimising revenue for retailers. Signifyd customers include Samsung, Mango, eBay, and Lacoste to name a few.
“B2B payments are becoming more digitised as buyers and sellers seek to simplify and accelerate their transaction flows, and establish greater control over their payments,” said Pat Bermingham, CEO, Adflex. “By partnering with Signifyd, Adflex is able to provide instant, automated protection to our customers, enhancing our existing anti-fraud offer through cutting-edge machine learning technology. Our modernised suite of digital payment services, each wrapped in a RESTful API, ensures our acquirer and merchant clients can quickly and easily benefit from these value-added services.”
The Adflex Hosted Payment Page enables business clients to seamlessly integrate card payments within their website, improving checkout conversion and boosting e-commerce revenue. Its cloud-based APIs enable fast, web-based integration of a wide variety of payment services, from simple consumer debit and credit to commercial credit and level 3 purchasing cards, supporting SCA, Click to Pay, and multiple shopping cart plugins.
Ed Whitehead, MD EMEA, Signifyd, concluded: “As a leader in the fraud management space we are always looking for ways to enhance our offering to clients so we are pleased to announce our partnership with Adflex. As a specialist in business payments, Adflex understands the complexities and challenges of the digital landscape, sharing Signifyd’s desire to simplify the process for buyers and sellers while keeping them secure online.”
“Adflex choose to partner with Signifyd over any other commerce protection company because we found their overall product and service to be market-leading, along with strong customer service, partner management and a straightforward API to integrate with our platform,” added Bermingham. “We’re excited to bring these benefits to our 4000+ merchant customers. 2. How long had the partnership been in the pipeline before being announced? Initial discussions started in early 2021, and developed over the coming months in line with our own product development. Adflex clients will soon benefit from the collaboration.
“Consumer and business payments alike are shifting into a digital age, and growing rapidly. Our platform and RESTful API has undertaken significant development over the last 18-months, and this will continue. Having the Signifyd fraud platform is an excellent feature that will benefit our clients, working in tandem with our eCommerce hosted payment page and the continued growth of our acquirer-agnostic platform.”