International Award Nomination Heralds Verifi as Payments Solution Leader in International Market
Los Angeles (September 28, 2017) – Verifi, Inc., the leading provider of payment and risk management solutions for card-not-present merchants, today announced that they have been shortlisted for the Anti-fraud or Security Solution of the Year at the prestigious Payments Awards.
Verifi’s chargeback mitigation platform, Cardholder Dispute Resolution Network (CDRN), has been recognized within the North American market as the Best Chargeback Management Solution for the last five consecutive years by the Card Not Present Expo. In addition, it has been cited as Best Chargeback Prevention Service by TopCreditCardProcessors.com. With Verifi’s recent expansion into international markets, recognition by the Payments Awards not only adds to their numerous accolades but further asserts their position as globally acknowledged experts in payment protection and risk mitigation solutions.
Organized by FStech and sister title Retail Systems, the Payments Awards recognize excellence and innovation in the payments sector. Now in their fifth year, the awards are a benchmark in the card and payment sector, distinguishing those individuals, companies and organizations who have launched and implemented the most outstanding payments solutions, initiatives and projects during the past year. This year’s winners will be announced at the Payments Awards Gala Dinner and Ceremony on 16 November 2017, at the London Marriott Hotel in Grosvenor Square. The event was attended by more than three hundred guests in 2016, and 2017 is set to be more spectacular than ever.
Verifi’s CDRN prevents hundreds of thousands of chargeback cases every month, providing real protection from costly fees, fines or penalties, and cardholder dissatisfaction which affect merchants and issuing banks alike. With year-over-year growth since its launch in 2007, Verifi’s unique and patented CDRN “closed loop” process directly integrates with top issuers, providing unmatched service, quality, and accuracy for merchants in collaboration with issuers to resolve disputed payments, and dramatically minimize fraud and non-fraud related chargebacks and cardholder dissatisfaction. Verifi’s CDRN covers approximately 50% of the US market and has resolved 90% of fraud and non-fraud related disputes before they turn into costly chargebacks for merchants and issuers alike.
As part of its ongoing innovation, Verifi recently rolled out Order Insight, a revolutionary new chargeback and fraud mitigation service that enables the sharing of robust transaction details––such as merchant’s name and contact information, date of purchase, name of device used in the order process, and item or service descriptions (size, color, style)––between cardholders, merchants and issuers when a dispute arises. By provisioning this data directly into the issuing bank’s online or mobile applications, a questionable charge can usually be resolved directly with the customer. This avoids a phone call to the issuer, saving the sale as well as wasted time, resources, and costs for all parties that would be incurred through the representment process. If the customer does contact their bank, call center representatives can access the enhanced order details to address the customer’s concerns, help validate the sale, and provide prompt resolution and a better customer experience. Additionally, by providing the right information to the right parties at the right time, Order Insight enables cardholders to better recall or understand their purchases and avoid filing false cases of fraud or efforts to manipulate the system by denying legitimate charges to their statement.
In response to the Company’s rapid expansion and demand for services, Verifi recently extended their award-winning chargeback solutions to the UK, Australia and New Zealand, with plans for further expansion to other markets including France and Germany later this year and numerous key markets on 2018.
Verifi provides a full and unmatched suite of end-to-end chargeback mitigation services that are designed to protect merchants and issuing banks alike from the expense and burdens of unwarranted fraud and non-fraud related card disputes and chargebacks.
Verifi is an award-winning provider of end-to-end payment protection and management solutions, founded in 2005 to help merchants effectively manage the payments challenges they face every day. Verifi’s Cardholder Dispute Resolution Network supports merchants by preventing hundreds of thousands of fraud and non-fraud chargebacks each month. Verifi’s full suite of services helps merchants safely process payments, featuring our payment gateway solutions, services to increase billings and keep loyal customers, credit card fraud protection, prevention of chargebacks and resolving costly chargebacks, and facilitating the sharing of transaction details. 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 serve more than 25,000 accounts globally. For more information, visit: www.verifi.com.
About the Payments Awards
The Payments Awards continue to be a celebration of card and payments excellence and innovation in the UK. The awards are free to enter and open to any organization with a UK based office. Find out more and get the latest updates by following the awards on Twitter where the winners will be announced live the night of the event. @PaymentsAwards #PaymentsAwards