Verifi Launches Web-Based Version of Chargeback Management Service
Aug. 8, 2013
This week, chargeback management solution provider Verifi said its flagship service is now available through a browser-based portal. The Los Angeles-based technology provider said making its Cardholder Dispute Resolution Network (CDRN) available to its customers via the Internet eliminates integration barriers, which makes fighting chargebacks “drastically” less expensive and more efficient.
Verifi said the CDRN Merchant Portal gives merchants access to the same data from issuing banks that users of its API-based offering have been using since the service was launched in 2007. The company allows merchants to tap data from card issuers that lets them know if a cardholder has initiated a dispute before that dispute turns into a chargeback. Merchants have the option of issuing a refund, rather than the more expensive process of fighting a chargeback. The company said the new portal is an efficient way to access the service.
The company cites independent research that found consumers only contacted the merchant about disputed charges to their credit or debit card 14 percent of the time while they began with the issuing bank 86 percent of the time.