PaymentWorks vs. Signifyd Commerce Protection Platform

Appropriate only for US customers with domestic banking institutions who speak English fluently.

Not appropriate for any foreign vendor to get paid in less than 6 months. The data is poorly designed. The software defaults to domestic banking information such as routing number. Vendors then choose check payments overseas which take 45 days and usually never arrive. I end up submitting the same payments over and over. Customers are always angry and I have no ability to help them.

I think Signifyd is well suited for any eCommerce store that delivers physical goods to an address. You will be protected if they approve the order and it turns out to be fraud, and you can take comfort knowing you won't ship any orders that are declined. It is not well suited for companies selling digital goods or services as they won't protect anything that's not physically shipped.

Incentivized

• The data is kept secure

• High approval rate.
• Find the fraud.
• Always responsive to escalations.

Incentivized

• Software design especially in regards to entering foreign bank accounts
• Customer service never really assists the customer
• Admins are not notified when there is incomplete registration or problems with the information entered. We have to wait for the customer to contact us and by that time they are very angry and their payment is very delayed
• The only language available is English. The tax forms are only available in English

• I am completely satisfied.

Incentivized

Administrators hate the system because they cannot see any information in order to assist customers. Customers hate it because registration is lengthy and difficult and only available in English

I was not involved in this choice and the people who chose the system are not end users of this software. The end user experience was never considered when this decision was made. Admins and customers hate PaymentWorks. It is only effective at wasting your time and money and employee resources

We did an RFQ 3 years ago and the value proposition for Signifyd was the best. We have never looked back.

Incentivized

• Zero return on investment. It takes 3 people to do the work that one person used to be able to manage.
• The only way that I can find out if there are problems is if the customer contacts me about non-payment.
• Zero integration with our accounting software. New vendors have to be manually transferred from PaymentWorks to the accounting software. Updates to PaymentWorks have to be manually carried from one system to the other. There are no notifications when these processes have been completed

• Positive ROI
• No fear of being delisted.
• I am able to sleep at night.

Incentivized