Press Releases

Verifi Inc. announces that John Shaughnessy joined the company as a Strategic Advisor.
Beverly Hills, California (November 1, 2006) — Verifi Inc., the leading provider of transaction risk management services for card-not-present merchants, announces that John Shaughnessy joined the company as a Strategic Advisor.
Verifi provides Merchants, Acquirers and Issuing Banks the tools they need to reduce risk and increase profitability. Using proprietary and industry applications, Verifi supports the creation of a safe and secure payment environment for all participants.
“We are extremely pleased that John has decided to join the Verifi team” said Matthew Katz President of Verifi. “John’s extensive experience and in-depth knowledge of the payment system will be an invaluable resource as we grow and expand Verifi’s products and services.”
John is a former executive of Visa USA. He began with the company in 1991 and continued until his retirement in October 2005. John served as Senior Vice President of Fraud Control. Under his leadership, fraud reached an all-time industry low of just 7 cents for every $100 in Visa sales. He managed key risk management and anti-fraud operations for Visa USA which included the following business units: Cardholder Information Security Program (CISP), Payment Card Industry (PCI), Fraud Control, Risk Intelligence Operations (RIO), and Fraud Analysis.
John represented the United States as a delegate to the G8 Meeting on Cyber-Crime in Tokyo in 2001. He has been a frequent speaker and panelist at numerous payment industry, merchant and regulatory forums on fraud and security issues. He is a former trustee on the Board of the Coalition for the Prevention of Economic Crime (a subsidiary of the National White Collar Crime Center). He is a former vice-chairman and board member of the Internet Security Alliance whose members are dedicated to improving the security of information systems on a cross-industry basis.
A veteran of the card business, he started his career in 1971 at Citizens Fidelity Bank (now PNC) in Louisville, Kentucky. There he spent his entire tenure in the Bank Card Department where he held a broad spectrum of positions on both the issuing and acquiring sides of the business. Immediately prior to joining Visa, he spent four years as manager of Merchant Card Operations at Barnett Banks (now Bank of America) in Jacksonville, Florida.
“It is an exciting time to join Verifi as they continue to lead the way in introducing cutting-edge technologies in the payment space,” said Shaughnessy . “I look forward to being a part of such an innovative team.”
About Verifi
Verifi, an award-winning provider of end-to-end payment protection and management solutions, was founded in 2005 to help our clients effectively manage the payments challenges they face every day. Verifi helps merchants safely process payments, combat fraud, prevent and resolve costly chargebacks, as well as increase billings andkeep loyal customers. Our best-in-breed solutions and white glove support are trusted by a wide range of industries from emerging companies to the Fortune 500. Headquartered in Los Angeles, California, we process more than $20 billion transactions annually and currently serve more than 8,900 accounts globally. For more information, visit:www.verifi.com.
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