New Agreement Helps Heartland CNP Customers Boost Revenue and Lower Their Chargebacks by up to 40%
LOS ANGELES, CA–(May 26, 2015) – Verifi, Inc., the leading provider ¹ of payment and risk management solutions for card-not-present merchants, announced a new relationship with Heartland Payment Systems (NYSE:HPY), one of the largest payment processors in the U.S. Under a new referral agreement, Heartland customers will have immediate access to Verifi’s full suite of payments solutions, including its award-winning Cardholder Dispute Resolution Network (CDRN™) to lower their chargeback risks.
“Our e-commerce portfolio is constantly growing and we recognize the need to help our card-not-present merchants lower their payment acceptance costs and manage growing risks,” said Joe Wysocki, senior director of e-Commerce, Heartland. “Collaborating with Verifi was a natural choice to help our customers with advanced chargeback risk prevention and mitigation.”
“We are delighted to work with such an established payment processor brand as Heartland. This new relationship extends our ability to showcase Verifi’s solutions to Heartland’s broad and marquee customers and further aligns the interests of customers, merchants and issuers in the payment processing ecosystem,” said Matthew Katz, CEO of Verifi, Inc. “By lowering chargebacks by about 40 percent, CDRN’s patented, closed-loop platform avoids false positives present in other solutions, which can increase chargeback costs to merchants and result in unnecessary over refunding. Our ‘white glove’ Premier Chargeback Representment Service will also allow Heartland customers to reclaim the profits lost to chargebacks that do occur, boosting their bottom line.”
Available as a fully managed service or via its self-service merchant portal, CDRN processes hundreds of thousands of chargebacks every month for businesses of all sizes ― from emerging companies to some of the largest Fortune 500 brands. Backed by a zero defect guarantee and covering both fraud and non-fraud related chargebacks, CDRN’s easy set options require little to no IT involvement and can be live in just days.
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 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.
Heartland Payment Systems, Inc. (NYSE: HPY), one of the largest payment processors in the United States, delivers credit/debit/prepaid card processing and security technology through Heartland Secure™ and its comprehensive Heartland breach warranty. Heartland also offers point of sale, mobile commerce, e-Commerce, marketing solutions, payroll solutions, and related business solutions and services to more than 400,000 business and educational locations nationwide. A FORTUNE 1000 company, Heartland is the founding supporter of the Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. Heartland also established the Sales Professional Bill of Rights to advocate for the rights of sales professionals HEADLINE CITATION Aite Group Research, April 2015