Merchants lose billions of dollars to disputes annually1
Rising disputes volumes create a frustrating reality that leaves merchants unable to accurately account for earnings while increasingly overburdened by the operational expense required for dispute management of chargebacks that often cost more than the value of the initial credit card transaction to fight.
49%
increase in disputes in the US from 2019 to 20242
63%
of merchants report an increase in friendly fraud since last year3
$735M
inquiries resolved in pre-dispute, before a chargeback initiated4
Verifi’s PREVENT and RESOLVE solution suites offer merchants two lines of defense against unnecessary disputes.
PREVENT equips merchants to bridge the communication gap with transaction transparency and data sharing to automatically deflect confirmed first-party-misuse disputes before chargebacks are initiated.
RESOLVE empowers merchants to automatically intercept inquires in the pre-dispute stage, before a chargeback is initiated. Merchants have the choice to resolve the pre-dispute by providing the cardholder a credit or proceed with the traditional chargeback process.
Pre-dispute prevention and resolution lowers dispute volumes with automation to alleviate the expense and operational burden disputes place on merchants.
To learn more about how to lower your dispute volumes, optimize prevention tools, and protect revenue, contact us or check out Verifi’s free educational tools:
Merchant Fraud Journal Whitepaper: Quantifying the Challenge of Friendly Fraud Whitepaper
In it you’ll find:
- How friendly fraud presents itself
- Tips on how data storage and prevention can help prevent friendly fraud
- Data on the effectiveness of 3rd party dispute management solutions
WEBINAR: Disrupting Disputes’ Downstream Effects
In our Verifi+ Session, chargeback experts will share best practices for combatting disputes and how you can prevent the negative downstream effects that can even impact your ability to process payments.
2024 Global Fraud & Payments Report
In it you’ll find:
- The scale and type of fraud seen in the global marketplace
- How fraud changes based on the size of the business
- A robust set of performance benchmarks that merchants can use to help optimize their fraud management and prevention practices
Get your copy of the 2024 Global Fraud & Payments Report
Download Here
Sources:
1Forbes – The $125 Billion Problem Affecting Every Business
2VisaNet Data, United States, all card types, January 2019 to November 2024
3Verifi’s 2024 Global Fraud & Payments Report
4Verifi Internal Reporting, October 2024 (October 1, 2023 through September 30, 2024
