…TO ELIMINATE CHARGEBACKS AND REDUCE FRIENDLY FRAUD
Los Angeles, CA, November 11, 2013 – Verifi, Inc., the leading provider of payment and risk management solutions for card-not-present merchants today announced the Cyber Monday Chargeback Reduction Program to prepare merchants for the onslaught of chargebacks during the busiest shopping season of the year.
Verifi reports that their clients have seen chargeback volumes spike by as much as 50% during the holiday shopping season – from late November through the end of February.
Verifi, through independent research, found that customers were contacting merchants directly only 14% of the time to resolve credit or debit card disputes for products they purchased. Customers contact their Issuing Bank 86% of the time!
The Cyber Monday Chargeback Reduction Program was designed to help online merchants redirect customer disputes and eliminate up to 40% of their chargebacks during the busiest 30 online shopping days of the year. The program uses Verifi’s Cardholder Dispute Resolution Network (CDRN) – a service that connects merchants with issuers to resolve consumer complaints before they become chargebacks.
Verifi’s self-service CDRN portal empowers merchants to manage disputes in a more timely and cost effective manner. The CDRN Merchant Portal is a browser-based solution that requires only a username and password to access critical dispute data directly from Issuing Banks. Because the service is web-based, IT integration is not needed.
Merchants can register online for the Cyber Monday Chargeback Reduction Program by visiting:
During this 30-day free trial offer, Verifi is making the Cardholder Dispute Resolution Network (CDRN) self-service portal available to new merchants at no cost.
About Verifi, Inc.
Verifi, Inc. is a leading provider of global electronic payment and risk management solutions for card-not-present merchants. The highly customizable payment and real-time reporting platform serves as a foundation for Verifi’s suite of fraud solutions and risk management strategies. With a commitment of reducing risk while increasing profitability for clients, Verifi’s multi-layered approach enables transaction risk management and mitigation, business optimization strategies, cardholder authentication and chargeback re-presentment for all major credit card brands. Verifi is offered via Software-as-a-Service model and is PCI Level 1 certified headquartered in Los Angeles, California.
For more information on Verifi’s Cyber Monday Chargeback Reduction Program, please visit: https://www.verifi.com/products/cyber-monday-chargeback-reduction/ or please email us at [email protected]
*CDRN is not guaranteed. Success is determined on a case-by-case basis and is dependent upon various factors outside of Verifi’s control.