How is Verifi Different? What is the Verifi difference?
Verifi’s Total Chargeback Management Platform is the only solution available that can offer a proven chargeback management process, bringing significant benefits to all parties at every stage of the transaction lifecycle.
Other solutions operate through open-loop workflows or rely heavily on a combination of outdated and inaccurate issuer data and other sources of association-reported fraud data, such as TC40. These data sources include all reported cases of fraud aggregated by issuers and are not necessarily a great tool for chargeback prevention.
The Verifi Difference is Verifi’s three-tiered approach to chargeback management that addresses the entire chargeback challenge from beginning to end:
- Early Dispute Resolution and Chargeback Elimination with Order Insight™
- Merchants and issuers can gain immediate visibility into the nature of a cardholder inquiry in near real-time to improve sales, deflect and eliminate chargebacks. Order Insight empowers issuer personnel with enhanced merchant CRM and order details in near real-time, so that all parties can better recognise, remember and validate the sale.
- Stop Chargebacks with Cardholder Dispute Resolution Network® (CDRN)
- Stop a dispute before it becomes a chargeback, and reduce the burdensome costs that come with it: fees, fines & penalties, false positives, and profit losses due to over-refunding or service defects. CDRN’s patented closed-loop process provides unmatched service quality, accuracy and actionable insights, direct from the cardholder’s issuing bank, to do what is best for your business to minimise costs and losses.
- Recover lost revenue with Chargeback Revenue Recovery (CBR)
- For unwarranted chargebacks that occur, Verifi’s specialists prepare the case evaluation to achieve the best net win rates (up to 70%) on the market. This helps merchants lower operating expenses and reclaim legitimate sales.