TMCnet News
Zumigo Launches Enhancements in Award-Winning Flagship E-Commerce Anti-Fraud Solution, DeRiskifyZumigo, Inc., the leader in mobile identity authentication, today announced the launch of new authentication and onboarding capabilities in Zumigo DeRiskify, the company's award-winning flagship anti-fraud solution for e-commerce. The enhancements significantly improve the customer sign-up/sign-in experience by eliminating the need for passwords, as well as providing merchants with deeper transaction insights so that they can understand how fraud affects their business. Zumigo DeRiskify leverages deterministic digital user information such as the customer's phone number, payment details, email and IP addresses to authenticate transactions. The resulting trust score empowers merchants to fulfill only the low-risk transactions. Merchants reduce losses and eliminate chargebacks by stopping fraudulent orders before processing them. "Merchants can now offer a more streamlined and more secure onboarding experience to customers, which will improve overall conversion rate," said Chirag Bakshi, CEO of Zumigo. "In addition, the new dashboard provides details of each transaction which allow merchants to understand how their business is affected by fraudulent purchases." Learn more about these new capabilities to be unveiled at next week's ShopTalk 2024 at Mandalay Bay, Las Vegas. Zumigo is hosting meetings with attendees. Contact Zumigo to schedule a meeting and demo before the event. Zumigo DeRiskify's expanded capabilities are in response to e-commerce merchants' growing priorities to boost revenue and ensure customer satisfaction. The solution offers a passwordless log-in option to reduce customer friction and increase conversion, as passwords pose security risks and are often cumbersome to handle. To streamline the checkout process, after completion of initial enrollment, the customer's shipping and billing information can be automatically filled in. The transaction dashboard provides deeper insights into purchase activities. Merchants can see how their orders are performing at a glance, including the number of total transactions, what are the high-risk orders and customers, the number of fraud orders processed and their value, the type of merchandise that is high risk, and the location/origins of risky transactions. Merchants can also drill into each transaction for more information. "We have been using Zumigo DeRiskify for two years now, and we have seen great results," said Shoaib Ahmed, Founder and CEO from Scooty Mobility, Inc. "Our fraudulent purchases have declined by 26% - which is a significant amount. Our next step is to make the customer experience even more delightful. Now with the new passwordless log-in capability, we will be able to achieve that while preventing fraud." Zumigo DeRiskify is available as an add-on in Shopify and BigCommerce, via API integration for custom e-commerce platforms, and Zumigo-hosted portal for ad hoc risk assessment. Learn more. About Zumigo Zumigo is on the frontline of digital identity verification that helps the world's largest enterprises protect transactions, devices and accounts. With a multi-layer approach, Zumigo validates users against a unique digital identity intelligence network that spans global carrier providers, third-party data sources and payment information. Zumigo supports over 800 mobile operators, verifying over 4 billion mobile numbers globally with services reaching 180 countries. Zumigo is led by a team of industry veterans and is backed by some of the leading venture capitalists, including Aligned Partners, Wells Fargo Ventures, Intel Capital and Capital One Growth Ventures. Learn more at www.zumigo.com. Zumigo and Zumigo DeRiskify are registered trademarks of Zumigo, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240313198859/en/ |
