Compelling Evidence 3.0 (CE3.0) in the Pre-dispute and Pre-arbitration Environments

Sellers, especially those operating in a card-not-present environment, have seen increased instances of fraud over the last few years. Between 2019 and 2021, annual Visa CNP sales grew 51% and disputes grew nearly 30% globally1. Many of these disputes are thought to be inaccurately categorized as fraudulent and may truly be the result of friendly […]

“Friendly Fraud” is on the rise. Visa’s new Compelling Evidence 3.0 aims to help merchants level the playing field.

According to Visa internal reporting, friendly fraud can account for up to 75% of all chargebacks. “Friendly fraud is not always friendly, especially from a merchant’s perspective,” said Mike Lemberger, Senior Vice President of North America Risk at Visa.  The Fair Credit Billing Act of 1974 legislated the chargeback process to help protect consumers; but […]

What Every Merchant Needs to Know About Friendly Fraud

As card-not-present transactions rise, Visa is addressing the impacts of first party misuse Fueled by the pandemic, the digital economy has grown significantly in the past two years. At Visa, we are continuously listening to and learning from all members of the payments ecosystem. What we’re hearing is that while online purchases are more seamless […]

Stress-Testing Your Dispute Strategy

Your Dispute Strategy in Action By now, sellers realize that the consumer trend away from in-store shopping and toward e-commerce is not going to reverse any time soon. In fact, a recent study reported that 44% of global consumers now purchase physical goods online.1 With so much new online purchasing and so many businesses moving […]

Top 3 Ways to Improve Your Dispute Strategy

The Importance of Building a Dispute Strategy Success and longevity in e-commerce are driven by a solid payments strategy and strong customer service standards. Yet, the payments landscape is changing rapidly, which can make it difficult to navigate without a strategy. According to a recent study, in-store shopping has dipped 3% year-over-year, while online shopping […]

The Dispute Landscape – Past, Present & Future (Part 2)

Total Dispute Management and Pre-Disputes In October 2019, Visa acquired Verifi. Since day one, the companies have been exploring ways to prevent or resolve disputes quickly. Since then, we have made tremendous strides integrating our solutions with Visa’s infrastructure and have co-developed a revolutionary product, Rapid Dispute Resolution (RDR) – the first fully automated dispute […]

The Dispute Landscape – Past, Present & Future (Part 1)

When I founded Verifi in 2005, the term “FinTech” was just gaining traction. And suddenly the SaaS transaction dispute solution I was working on had a category. Our first launch in dispute management was Managed Dispute Representment. By 2017, we had worked our way up the dispute cycle to resolve and prevent pre-disputes before a […]

Rapid Dispute Resolution Is Here

Remote Purchasing and Automation The rapid growth of e-commerce has brought on technology that provides greater purchase transparency for customers. After all, the customer is the king – they have the right to know what’s happening in their accounts. Now, up to 73% of customers engage with their issuer’s mobile app or website at least […]

Removing Human Error in Stopping Chargebacks

So much of life is routine. On most days, many of us wake up at a set time to go to a job; we work a planned schedule; we commute a predetermined route both ways. On top of that, we program our morning coffee to brew at a certain time, set thermostats to turn on […]

More Collaboration, Fewer Disputes

Lack of communication and transparency in information can result in bad decisions and negative outcomes – particularly when it comes to transaction disputes. Consider the following scenario: A customer makes a credit card purchase with a seller, but the customer doesn’t recognize or remember that transaction later while reviewing their bank statement. The customer suspects […]