It’s been a few months since Verifi joined the Visa family, and we have been hard at work combining strategies and solutions to offer sellers the most innovative and effective payment protection services available. Throughout 2020, Verifi will be unveiling some of the exciting changes that are coming your way. Of course, we want our clients to know what’s coming first and foremost!
Right out of the 2020 gate, we are presenting new positioning of the products you know and love – in addition to some exciting new features and functionality. Largely, you’ll begin to see product references in one of four solutions: PREVENT | RESOLVE | RECOVER | INFORM. Together, they comprise Verifi’s Total Dispute Management Suite.
PREVENT is Verifi’s new pre-dispute solution to deflect fraud and non-fraud disputes and avoid fraudulent transactions altogether.
With Verifi and Visa joining forces, you’ll see Visa Merchant Purchase Inquiry (VMPI), Visa’s seller-issuer collaboration and dispute prevention network, rebranded as Verifi’s Order Insight®. Now under one product name, the combined Visa and Verifi technologies can provide a more robust service and coverage on a global reach. Integration to PREVENT will occur through Verifi’s Order Insight, where a seller can utilize pre-built, easy integration options.
- Expanded global dispute prevention coverage with Verifi and Visa issuers
- Customer self-service – transaction validation and dispute prevention
- Customized reporting for sellers
More to come with expanded global coverage and issuer participation, as well as fraud prevention notification features for sellers.
Verifi’s new total solution to resolve disputes via our global data-sharing network provides issuers the ability to deliver confirmed disputes to sellers, so they can quickly resolve the dispute with a refund or cancellation, avoiding present and future chargebacks.
Cardholder Dispute Resolution Network™ (CDRN®) will remain unchanged, providing resolution services for all major card brands.
Verifi and Visa working together have developed an exciting new service called Rapid Dispute Resolution (RDR). Launching in July 2020, this new automated technology will provide sellers even more control by defining custom decisioning rules to automatically resolve disputes with a credit – before they are actually filed as a dispute. These disputes will be resolved in real time with no hands-on management required by sellers!
- Expanded global dispute resolution coverage with participating Verifi and Visa issuers
- Hands-off, real-time resolution on eligible disputes
- Global dispute coverage on all major card brands
- Managed all in my.cdrn.com portal or through your existing integration
Verifi’s RECOVER solution continues to grow in access and integration with more dispute sources to maximize dispute representment wins and empower sellers to recover revenue otherwise lost to disputes.
This is the same dispute representment solution you have relied on for years, boasting our 14 years of industry expertise with A/B testing and deep-dive reporting. Our growing team of experts manage all aspects of representment cases on your behalf, with the same flexible options – like our pay-for-performance pricing model.
Verifi’s new total solution equips sellers with comprehensive fraud and dispute notifications from a single source, which can advance learnings to help sellers make decisions that protect their business.
You will be able to leverage the use of several types of notifications direct through the Verifi system, which will help inform your fraud prevention, dispute management, and payment operations – all at a low subscription price.
- Improve link analysis and fraud analytics
- Enhance fraud detection, modeling, and manual review
- Use fraud data to track trending fraud rate
Our focus is on the continued and growing success of our valued clients. Any new features or updates to be launched will be relayed to you FIRST. Stay tuned for more exciting details to come!