Resolve Disputes, Stop Chargebacks and Boost Profits in Australia
June 11th, 2019 - Verifi’s Order Insight® Recognised for Innovation in Effective Payments Protection London, 11 June 2019 – The Financial Services Forum (“FS Forum”) has selected Verifi, Inc.’s collaboration solution Order Insight as winner of its 2018 Product and Services Innovation Award for Payments. Verifi’s Order Insight was celebrated by FS Forum for successfully reducing transaction disputes and... [Read More...]
August 21st, 2018 - Technological advances in the payments industry have conditioned consumers to expect constant innovation from merchants and issuers. Consumers expect to use less (or no) cash and have embraced innovative payment technologies like contactless PayWave and PayPass, payment rings, and mobile wallets for everyday purchases. Consumer behaviour is changing with advances in mobile devices, big data,... [Read More...]
July 31st, 2018 - An important piece of the chargeback puzzle Losing the fight against chargebacks can be detrimental to a merchant’s business. Dispute responses need to be managed efficiently by keeping up-to-date chargeback management principals and following industry best practice. Chargebacks cost merchants and issuers more than USD$31 billion in 2017, and this figure is only set to rise. Rebuttal letters... [Read More...]
July 25th, 2018 - Australia has one of the highest rates of contactless payments in the world. The ‘tap and go’ contactless payment, using a credit card, accounts for 75% of all transactions over $10 according to a survey by the Reserve Bank of Australia. The report also reveals that Australia has the most point-of-sale (POS) terminals per capita... [Read More...]
June 19th, 2018 - Australia is fast moving towards a cashless society, and further still a cardless society. Research by the Reserve Bank of Australia (RBA) reveals that over the past ten years cash as a method of payment has dramatically decreased, down to 37% in 2016 compared to 69% in 2007. This decrease in cash payments has led... [Read More...]
June 4th, 2018 - Andrew Reszka, Regional Head APAC, Verifi According to data published by Juniper Research, the global average cost of chargebacks each year is approximately 0.47% of total merchant revenue. That risk, however, is not evenly divided across the board, with a Javelin Strategy & Research study revealing that merchants front nearly two-thirds of the cost. The findings... [Read More...]
June 1st, 2018 - Verifi’s Ongoing Commitment to Innovation in Payments Protection Recognized with One of the Industry’s Highest Honors Los Angeles (May 31, 2018) – Today, Verifi announced that for the sixth consecutive year they have been awarded “Best Chargeback Management Program” at the 2018 Card Not Present Expo, held this year in Orlando, Florida. Verifi was one of many nominees from... [Read More...]
May 25th, 2018 - Article written by Verifi APAC regional head Andrew Reszka Transport NSW recently announced that commuters will now be able to ‘tap on’ for single trips using their credit cards or digital wallets, leaving many wondering whether the existing Opal card payment method could soon be phased out. This method will, of course, be more efficient... [Read More...]
May 21st, 2018 - Andrew Reszka, Regional Head APAC, Verifi Issuers’ legal responsibility to protect consumers’ rights for disputing a charge drives a large portion of chargeback costs. Rather than risk flouting regulations, issuers choose to accept losses on pesky chargebacks. To put this into perspective, in the US, chargebacks were a $31 billion problem in 2017. Issuers faced... [Read More...]
May 15th, 2018 - Eye-opening report commissioned by Verifi illustrates US$31 (A$41) billion chargeback problem facing consumers, merchants & issuing banks SYDNEY– May 15, 2018 – Verifi, today announces a new report that highlights the urgent need for collaboration between merchants, issuing banks and consumers. This in-depth analysis brings to focus the alarming scope and lasting effects that disputes... [Read More...]
