LOS ANGELES, CA; April 5, 2016 – Verifi and Data Support Systems (DSS) today announced that they have formed a partnership to support and enhance DSS dispute resolution solutions. Verifi is the leading provider of payment and risk management solutions for card-not-present merchants. DSS is a leading provider of Back Office Payment Automation solutions.
The partnership integrates Verifi’s award-winning Cardholder Dispute Resolution Network® (CDRN®) for card issuers with the DSS TRIPS® Dispute resolution platform to facilitate seamless collaboration for addressing fraud and non-fraud related customer disputes across the payments ecosystem. CDRN directly integrates with issuers to provide merchants visibility into fraud and non-fraud customer disputes in near real time. CDRN provides unmatched service quality and accuracy for merchants and issuers to resolve these disputes without escalation to stop costly chargebacks while improving cardholder satisfaction and significantly reducing costs. CDRN’s unique and patented closed loop process stops chargebacks while avoiding false positives that result in lost sales, increased manual review time and decreased profits.
The ground breaking TRIPS Dispute solution removes vast amounts of wasteful manual processes associated with data entry, tracking regulatory mandates, customer service interaction, risk review, card network interaction and resolution. Customers also experience new levels of compliance and control by using state of the art workflow timeline and actions management capabilities that are user maintained and updated.
“For decades, DSS has been the dominant provider of Back Office Automation solutions to the financial industry and in large part our dominance is due to partnering with the right companies and solutions that make our joint offering functionally beyond reproach and financially compelling, said DSS CEO and Founder, Carl A. Bortol Jr. “Through internal research and customer referrals, it was clear to us that Verifi and CDRN needed to be closely integrated with TRIPS Dispute. This partnership has already benefitted our mutual customer base and we are excited at our prospects for the future.”
“This partnership enables DSS to offer award-winning cardholder dispute resolution services to their formidable client base,” said Matthew Katz, CEO of Verifi. “As chargebacks continue to increase, they will remain one of our industry’s greatest global challenges. We are excited to partner with DSS as it furthers our joint commitment toward improving the payments ecosystem by providing a more efficient way to resolve costly fraud and non-fraud chargebacks.”
The partnership combines two industry leading solutions that significantly reduces case management costs, increases the efficiency by which banks and merchants can resolve disputed payments and dramatically minimizes chargebacks and cardholder dissatisfaction.
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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.
About Data Support Systems, Inc.
Data Support Systems develops, sells, and supports the industry‐leading TRIPS Suite; a fully integrated and image based set of back office process automation and case management solutions for payment and dispute processing in financial institutions and retailers of every size. The TRIPS Suite includes universal payment solutions for exceptions processing, incoming and outgoing returns, image exchange, adjustments, dispute processing, domestic and international collections, archive, and web delivery. DSS is a privately held corporation headquartered in Omaha, Nebraska. For more information, please visit www.datasupport.com .
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