Verifi Spins Off Decline Salvage as Standalone Product

Jan. 27, 2011

Verifi, Inc., a payment and risk management solutions provider for CNP merchants, announced the availability of Verifi Decline Salvage as a standalone service independent of the company’s payment gateway. The Los Angeles-based company said Decline Salvage enables merchants to maximize their approval rates on recurring billing requests and recover revenue otherwise considered uncollectable. Recurring payment decline rates can average 25 to 30 percent—much higher than the five percent average for face-to-face transactions. ”Recurring merchants who accept credit card transactions have experienced the lost revenue and frustrations associated with declines when attempting to collect for the goods or services they deliver to consumers,” said Jeff Sawitke, senior vice president and chief product officer for Verifi. ”Merchants offering subscription programs are especially vulnerable as their business models are dependent on receiving timely, recurring payments. We are offering our Decline Salvage solution as a standalone service so merchants in need of assistance in this area can easily integrate our solution into their existing decline recycling process.”