07 Jan Business Wire | Signifyd Announces Bill McKiernan, Founder of CyberSource, to it’s Board
McKiernan led CyberSource Corporation to its $2 billion acquisition by Visa
Signifyd, the fastest-growing provider of fraud protection services for e-commerce businesses, today announced that Bill McKiernan, founder of Visa subsidiary CyberSource Corporation, will be assuming a role on Signifyd’s Board. McKiernan’s expertise in the payments and fraud management space as well as his experience with building and growing startups will be invaluable as Signifyd continues to accelerate growth and expand its team.
“We’re thrilled to have Bill on our Board, as his knowledge of e-commerce and fraud will benefit our business as a whole,” said Rajesh Ramanand, CEO and co-founder of Signifyd. “Bill’s strategic thinking is exactly in line with how we want to approach the new year and his insights will help take Signifyd to the next level through updates to our services, new partnerships and more.”
In 1994, Bill McKiernan founded CyberSource Corporation and served as its CEO until 2010, when the company was acquired by Visa for $2 billion. The acquisition is one of the largest in Visa’s history, and at the time CyberSource was handling over $120 billion per year in payments volume representing approximately 25 percent of online transactions in the United States. Following the acquisition, McKiernan served as an Executive Advisor for Visa until 2012. He currently serves as the President of WSM Capital LLC.
“I’ve been involved with various companies throughout my 30 plus years in the industry, and I’m particularly excited to start contributing to Signifyd this year,” said Bill McKiernan. “They are revolutionizing fraud management with their financial guarantee and providing peace of mind to online merchants. This is an important advancement to a massive market. Signifyd is doing something in the industry that is rare and incredibly beneficial for e-commerce businesses, essentially ending the era of chargebacks, and I am looking forward to collaborating with the company.”
Signifyd’s multi-faceted approach to fraud prevention surpasses the results an internal fraud team could achieve by blocking fraudulent transactions so fraud is virtually invisible to the merchant. By guaranteeing payments to merchants in the event of fraud for all approved transactions, Signifyd levels the playing field between online and brick-and-mortar retail businesses through fraud protection combining domain expertise with machine learning.
Headquartered in San Jose, CA, Signifyd was founded by Raj Ramanand and Mike Liberty, a team of veteran risk and fraud experts from PayPal, to help online businesses prevent payment fraud. Signifyd’s full-service cloud platform simplifies fraud detection through a financial guarantee, allowing businesses to increase sales while reducing fraud losses. Signifyd is in use by multiple companies on the Fortune 1000 and Internet Retailer Top 500 list. The Company is backed by top tier Venture Capital firms such as Allegis Capital, Andreessen Horowitz, Data Collective, IA Ventures, Lucas Ventures, QED Investors, Resolute VC and Tekton Ventures.
For more information on Signifyd, please visit https://www.signifyd.com
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