CORRECT and REPLACE Signifyd and VTEX join forces to protect e-commerce in Latin America | New

MEXICO CITY–(BUSINESS WIRE)–August 26, 2022–

Please replace the version dated August 16, 2022 with the following corrected version due to multiple revisions.

The updated version reads as follows:

SIGNIFYD AND VTEX JOIN FORCES TO PROTECT THE ECOMMERCE IN LATIN AMERICA

VTEX customers will have quick access to Signifyd solutions, saving time and money, as the Signifyd module respects all programming and revision parameters of the platform

Signifyd, specialists in e-commerce fraud and consumer abuse protection through big data and machine learning, and VTEX, the global enterprise digital commerce platform for major brands and retailers, announced a strategic alliance to promote, strengthen and protect online retailers and businesses in Latin America.

With its comprehensive digital commerce platform and a team of digital commerce experts, VTEX helps companies accelerate time to market, reach customers through any channel, build loyalty, through experiences customized, thus discovering new areas of growth.

Customers now have access to Signifyd’s Commerce Protection Platform module through the VTEX App Store. This means that they will be able to install a plug-in within the VTEX ecosystem and thus optimize their transactions, protect their profits and prevent abuse and fraud attempts.

Latin America foresees further growth in e-commerce. It is expected to be the fastest growing retail e-commerce market in the world. eMarketer estimates that annual sales will reach $105 billion this year. However, in the face of this growth, companies face significant challenges such as the increase in online fraud by consumers.

“We are excited to offer VTEX merchants a transparent way to protect their businesses from fraud and consumer abuse. The extraordinary work VTEX has done with some of the world’s largest retail companies and others enables them to deliver extraordinary customer experiences. This is what motivated us to join forces and contribute to this success by adding our fraud protection solutions so that their customers can increase order approvals without fear of fraud,” said Christian León, Director regional signifyd, Latin America.

Through this collaboration, customers will have quick access to Signifyd solutions, and also save time and money, as the Signifyd module respects all programming and revision parameters of the VTEX platform.

By integrating Signifyd solutions, VTEX customers will be able to automate transaction review within their e-commerce platforms in real time. Through this, in addition to detecting fraud attempts, they can also access technology that has increased approved orders by 5% to 9% on average worldwide, based on Signifyd’s performance – and in some cases even more, as demonstrated by the results in Latin America. .

Signifyd’s machine learning model is constantly learning, adapting to new tactics and techniques deployed by professional scammers and fraud rings. It instantly sorts fraudulent transactions from legitimate transactions, detects instances of policy abuse, and provides financial security on approved orders against all types of chargebacks.

This strategic alliance is part of Signifyd’s expansion plans in the region. The company’s $205 million funding round in April 2021 fuels the expansion of its product, customer success and data science teams, as well as its engineering teams.

About Signified

Signifyd provides an end-to-end commerce protection platform that leverages its commerce network to maximize conversion, automate the customer experience, and eliminate the risk of fraud and consumer abuse for retailers. Its solutions provide the transparency and control brands need to succeed in the fast-paced world of commerce. Signifyd, the leading payment security and fraud prevention provider for the 2022 Top 1000 Retailers, is headquartered in San Jose, CA, with offices in Denver, New York, Mexico City, São Paulo, Belfast and London.

About VTEX

VTEX (NYSE: VTEX) is the enterprise digital commerce platform where global brands and retailers run their world of commerce. VTEX puts its clients’ business on the fast track to growth with a complete Commerce, Marketplace and OMS solution. VTEX helps global enterprises create, manage and deliver native and advanced B2B, B2C and Marketplace commerce experiences with unprecedented time to market and no complexity.

As a leader in digital commerce platforms, VTEX is trusted by more than 2,400 customers, including AbInbev, Carrefour, Colgate, Motorola and Whirlpool, and has more than 3,200 active online stores in 38 countries (fiscal year ended December 31, 2021). For more information, visit VTEX.com.

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CONTACT: Meant

Mike Cassidy

PR & Storytelling Manager

[email protected]

KEYWORD: IRELAND MEXICO UNITED KINGDOM CENTRAL AMERICA NORTH AMERICA LATIN AMERICA EUROPE

INDUSTRY KEYWORD: PAYMENTS RETAIL ONLINE RETAIL SECURITY TECHNOLOGY SOFTWARE E-COMMERCE

SOURCE: Meant

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PUBLISHED: 8/26/2022 6:17 PM / DISK: 8/26/2022 6:17 PM

http://www.businesswire.com/news/home/20220816005377/en

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