Verifi’s Ongoing Commitment to Innovation in Payments Protection Recognized with One of the Industry’s Highest Honors Los Angeles (May 31, 2018) – Today, Verifi announced that for the sixth consecutive year they have been awarded “Best Chargeback Management Program” at the 2018 Card Not Present Expo, held this year in Orlando, Florida. Verifi was one of […]
Chargebacks are a problem for everyone involved in the dispute process – merchants, consumers, and issuers. The trickle-down effects of chargebacks extend well beyond a lost or refunded sale, with disgruntled customers and seemingly endless communication problems, increased operational expenses and reduced profits for merchants and issuers. In 2017, chargebacks amounted to a $31 billion […]
$31 Billion Chargeback Problem Facing Consumers, Merchants & Issuing Banks LOS ANGELES, CA – May 14, 2018 – Today, Verifi issued a new report that highlights the urgent need for collaboration between merchants, issuing banks and consumers. This in-depth analysis brings to focus the alarming scope and lasting effects that disputes and chargebacks present throughout […]
Strong customer relationships are the backbone of any business. When your customers are happy and satisfied, the more likely they are to come back with return business, share social media and word-of-mouth recommendations, and be more patient with merchant errors. An important key is to ensure that merchant errors and missteps don’t happen during the […]
With every improvement made in security and customer knowledge, one threat remains constant: friendly fraud. Friendly fraud is the chargeback threat that can slowly but surely eat away at merchant confidence and profits. Some merchants accept that friendly fraud and chargebacks are simply the cost of doing business. Don’t give in to the fraudsters and […]
Friendly fraud is on the rise. Chargeback costs eat away at revenue and productivity for merchants and issuers, and the threat of chargeback fraud is a constant worry. It’s time to end the practice of merchants and issuers operating in silos. Despite these liabilities, merchants and issuers continue to operate independently. In the current chargeback […]
Subscription services have become a popular option for young consumers. What could be better than subscribing to services that promise home delivery of food, razors, clothing, luxury goods, makeup, video games, beer and wine, or underwear? A boon for consumers and for merchants – or is it? Merchants cannot ignore the looming threat of subscription […]
Merchants need customers. This is a simple fact of business. The challenge for merchants is to attract and then retain these customers. Building loyalty and encouraging customers to trust the brand are key in customer retention. Long-term customer relationships often hinge on the customer’s first contact with the merchant. This often occurs when the customer […]
It has never been a more exciting or challenging time to be a card not present (CNP) merchant. The barriers to entry into e-commerce, m-commerce, and omnichannel sales networks have largely been erased. Of course, as with all good things in sales and payments, there are caveats. The digital sales boom also presents many unique […]
Fraud comes in many shapes and disguises. Over time it slowly but surely takes its toll on a merchant. When he discovers he has been victimized, the merchant is left with a long list of questions about how and why it happened. What’s confounding is that fraud is not simple and straight-forward – when done […]