RevGuard Chooses Verifi for Chargeback Management
Nov. 7, 2013
RevGuard, a CRM platform serving mainly subscription-billing merchants, yesterday said it will provide its merchant clients access to the Cardholder Dispute Resolution Network (CDRN) from Verifi. Los Angeles-based Verifi works with a network of issuing banks to intercept disputed credit-card charges and address them before they get to the chargeback stage. The risk-management company noted that, in the case of a disputed charge, consumers turn first to their issuing bank 86 percent of the time. So the overwhelming majority of merchants are not notified until the chargeback process is underway.
RevGuard said the 300 e-commerce brands using its service will now be able to hear when a customer contacts their issuing bank about a dispute, enabling the merchant to offer a refund rather than go through the more costly chargeback process.
“The fact that it prevents chargebacks post-sale, rather than during the ‘checkout process’ makes it a very appealing solution for our clients who want to avoid anything that will disrupt their customer’s purchase process,” said Blair McNea, CEO of RevGuard. “Our clients know the secret to long term success is to create great customer relationships. If a customer has a dispute outside of typical customer relationship channels, CDRN allows our clients to proactively resolve a dispute in favor of the customer.”