When it works right, fraudulent charge detection is great. But sometimes businesses mistakenly freeze your legit purchases — usually when you're travelling somewhere far-flung and can't easily straighten things out. Signifyd, launched today, hopes to fix that by watching your social media to see when you're really on a Caribbean shopping spree.
Signifyd says it monitors things like device fingerprints, transaction velocity, customer history and social media to tell businesses whether a seemingly suspicious purchase seems legit. Sound creepy? Maybe, but that's all information you're already cranking out. For businesses, this means less revenue lost to frozen transactions, and perhaps the confidence to pursue sales that might otherwise seem fishy. For customers? Hopefully, you'll never again have to explain to your credit card company why you just decided to ditch work and blow all your money in Amsterdam. [Signifyd via AllThingsD]