At the beginning of 2019, it became clear to sellers that Visa Merchant Purchase Inquiry (VMPI) brought great promise for effective, network-level dispute prevention. The payments industry was abuzz with much excitement – and more than a few questions.
Do I use my own resources to build an API?
Do I go with a VMPI facilitator, and how can I vet their services?
What is the possible ROI in adopting this potentially great solution?
There followed a great deal of industry activity at the prospect of entering a whole new level in payments protection. Then in September 2019, a fairly quiet paradigm shift had occurred.
Verifi – A Visa Solution
Now that Verifi is part of the Visa family, we are in a unique position to provide answers to some of these important questions and more.
As Verifi founder Matthew Katz is fond of saying, “Keep It So Simple.” That’s exactly how we began our new relationship, by combining technologies with Visa to build an even more robust and effective pre-dispute solution. The result embodies the very spirit of simplicity – VMPI is now Order Insight.
Verifi’s and Visa’s shared goals of fostering collaboration, building trust, and improving customer experience are at the foundation of our solution, now in a position to provide fraud and dispute prevention services on a global scale.
As part of arguably the world’s largest card brand network, participating Visa issuers – along with established issuers in the Verifi network – will be able to collaborate with adopting sellers on nearly every continent.
As part of the strategy to extend the use of Order Insight, Visa is requiring all Visa issuers to implement access to Order Insight data in their dispute management platform, Visa Resolve Online (VROL). Issuers are required to complete this implementation by April 2020. All Visa issuers will see contact information or order details upon request from all Order Insight participating sellers before a dispute can be submitted—enhancing a seller’s customer service and preventing disputes.\
Now, one of the most exciting aspects of Order Insight is that Visa issuers will be able to deliver seller and transaction data directly to their customers. By directing digital receipt information to their online banking portal or mobile app, customers can easily review and validate their purchase, or immediately confirm fraud and prevent a dispute from occurring.
Going forward, Visa will direct all seller requests to integrate to VMPI through Verifi and Order Insight. As proven experts in integration, Verifi can usually onboard sellers in 3-4 weeks, depending on customization needs.
Throughout 2020, we will be introducing new and improved functionality in all our dispute management solutions, and we will be sure to keep our clients in the know, first and foremost.
To learn more about Order Insight, take a look at our new solution page. Or, contact your Verifi support representative for more details.