San Francisco, CA – September 12, 2019 – Visa (NYSE: V) today announced it has completed the acquisition of Verifi, a leader in technology solutions that reduce chargebacks. The acquisition of Verifi strengthens Visa’s role of facilitating trust and transparency across the buying experience by extending its dispute resolution capabilities to support a broad range of payments brands and partners across the ecosystem.
The combination of Verifi’s best-in-class dispute resolution tools with Visa’s suite of risk and fraud management services will:
- Save valuable time and resources by connecting all parties in the dispute management process in near real-time to resolve disputes before they become chargebacks.
- Give buyers and sellers intelligent, data-driven tools that foster collaboration, build trust, and improve the overall customer experience.
- Create an end-to-end solution across every stage of the customer journey that can be complemented by services delivered by CardinalCommerce and CyberSource.
Verifi’s industry-leading solutions and expertise further Visa’s value-added capabilities that make it easier for customers to do business, deliver enhanced payment experiences and offer greater protection. Verifi serves more than 25,000 accounts around the world and will continue to serve and support its customers and partners across the industry.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
Since 2005, Verifi has been a leader in the payments industry, providing innovative, end-to-end payment protection solutions that prevent disputes, eliminate chargebacks, and recover profits lost to chargebacks. Verifi creates strategic, adaptive technologies for merchants, payment facilitators, acquirers, and issuers, building sustaining partnerships to deliver value, increase profits, and promote brand growth. Visit: verifi.com.
This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as “will,” “is expected,” and other similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the benefits to Visa arising from the completion of the transaction.
By their nature, forward-looking statements: (i) speak only as of the date they are made; (ii) are not statements of historical fact or guarantees of future performance; and (iii) are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from Visa’s forward-looking statements due to a variety of factors, including the risk that the anticipated benefits of the acquisition may not be realized and various other factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2018, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, and our other filings with the U.S. Securities and Exchange Commission.
You should not place undue reliance on such statements. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future developments or otherwise.