Verifi SVP Rick Lynch to Help Lead Charge Against Fraud and Chargebacks
LOS ANGELES, CA; February 2, 2016 –Verifi, Inc., the leading provider of payment and risk management solutions for card-not-present merchants, today announced that they have been appointed to the Americas Advisory Board (AAB) of the Merchant Risk Council (MRC). Verifi’s Senior Vice President for Business Development, Rick Lynch, will occupy the board seat on behalf of the Company.
Launched in 2000, the MRC is the global forum for ecommerce, fraud prevention and payment professionals. MRC members include senior executives from leading consumer brands whose mission is to combat fraud within the card not present (CNP) and payments spaces. The MRC is a nonprofit organization and its Americas Advisory Board members contribute their expertise to guide MRC programs and member activities within their respective regions.
“The MRC is thrilled to welcome Verifi to our American Advisory Board. With the common goal of making eCommerce more efficient, safe and profitable, Verifi will be a strong asset and advocate of the MRC. Rick Lynch has a wealth of eCommerce experience and knowledge and his contributions will be invaluable as our membership continues to grow. Verifi has been an active member and sponsor to the MRC and we look forward to strategic collaboration with Rick in this new role.” – Danielle Nagao, CEO, Merchant Risk Council
Rick Lynch joined Verifi in 2006 as its first employee and currently serves as Senior Vice President. Leading the Business Development team, his focus is on establishing key strategic partnerships for Verifi with a broad range of banks, service providers and consultants throughout the payment industry. Rick holds more than 17 years of experience in the payment industry, across numerous revenue and risk/operational roles.
Verifi is the creator of the award-winning Cardholder Dispute Resolution Network (CDRN). The CDRN network processes hundreds of thousands of cases monthly and provides merchants and issuers with unmatched protection, preventing chargebacks through near real-time collaboration for both fraud and non-fraud disputes. CDRN’s patented “closed loop” process integrates directly with top card issuers and redirects customer disputes from the issuer to the merchant for resolution, before they escalate and become chargebacks. As a result, merchants are more aware of and responsive to their customers, while avoiding costly fees, fines or penalties. At the same time, issuers ensure their cardholders’ satisfaction through timely resolution of disputes, as well as lowering their operating expenses.
“Rick’s appointment to the MRC Board is a further step in our commitment toward improving the payments ecosystem,” said Matthew Katz, CEO of Verifi. “Our missions are aligned; both Verifi and the MRC seek to resolve and minimize costly fraud for issuers, merchants and cardholders in a seamless and cost effective manner.”
Prior to joining Verifi, Rick helped launch Cardinal Commerce Corporation, where he served as Director of Marketing, Director of Sales, and Director of Business Development. He is active within the Electronic Retailing Association where he established the ERA’s Payments Committee.
Rick has presented at the industry’s most influential industry events, including the Direct Response Forum (DRF), CNP Expo, and MRC, He has published a number of articles in payment industry periodicals, including Transaction Trends, Transaction World and The Green Sheet.
Verifi provides complete end-to-end services for merchants and issuers including its pateneted chargeback prevention solution (CDRN), chargeback representment, decline salvage, fraud prevention tools, an international payment gateway and award winning CDRN for merchants and issuers. The company serves a broad and growing base of customers ranging from early stage to Fortune 500 Merchants and top tier Issuers.
Verifi, an award-winning provider of end-to-end payment protection and management solutions, was founded in 2005 to help merchants 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 and keep 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 12,000 accounts globally. For more information, visit: www.verifi.com.
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