SOURCE: Verifi, Inc.

Verifi, Inc.

May 28, 2014 10:55 ET

Verifi Wins Best Chargeback Management Program: Customer Choice Award

For the Second Year in a Row, Verifi Takes Home the Customer Choice From Cardnotpresent.com

LOS ANGELES, CA--(Marketwired - May 28, 2014) - Verifi, Inc., the industry-leading provider of global electronic payment and risk management solutions, has won the Best Chargeback Management Program: Customer Choice Award for the second year in a row. Verifi currently processes more than $11 billion in sales transactions and more than 1 million chargebacks each year.

More than 40 companies vied for the top spot in each category, and winners were announced on May 21st. CardNotPresent.com Founder and CEO Steve Casco noted, "Significant growth in e-commerce and mobile payments continues to spur innovation and excellence from the technology providers serving card-not-present merchants," said Casco. "That growth is reflected in this year's CNP Awards, which had a record number of nominations and a record number of votes for Customer Choice nominees. The CNP Awards have become the standard by which companies, programs and services around the world are being recognized and judged now and in the future."

According to Verifi's CEO Matthew Katz, "Winning the award for Best Chargeback Management Solution in the Customer Choice category is truly an honor. Verifi has always been committed to the needs of our clients and we strive to produce continual innovation to best address those challenges that emerge in the marketplace. We are incredibly excited that our work has been recognized by those we serve. To have won this two years in row is a testament to our team and the services and value we provide in the payment space."

Verifi's innovative Chargeback Management program includes the Chargeback Dispute Resolution Network (CDRN) -- a patented solution that helps merchants prevent chargebacks and manage disputes in a more timely and cost effective manner -- and the Chargeback Revenue Recovery Service which works directly with processors (and via direct bank integrations) to help merchants quickly recover funds lost to chargebacks.

The Customer Choice award comes on the heels of two major enhancements to Verifi's suite of Chargeback Management services:

  • Most recently, a new "Fast-Trak" integration was added to Verifi's Chargeback Revenue Recovery Service. This feature dramatically reduces IT involvement -- giving merchants the ability to start recovering revenue quickly without tying up scarce integration resources. Additionally, the Chargeback Revenue Recovery Service is now omni-channel and covers both Card-Not-Present and Card-Present transactions across all major payment brands including PayPal.
  • In addition, Verifi also recently released the CDRN Merchant Portal -- which allows merchants to subscribe and begin preventing chargebacks the same day, eliminating all integration barriers, and drastically reducing the time and cost to enable. The CDRN Merchant Portal is a browser-based solution that requires only a username and password to access critical dispute data directly from Issuing Banks. On a real-time basis, merchants receive notifications that a customer has contacted their issuer and initiated a dispute that might otherwise become a chargeback unless the merchant responds.

According to Verifi's Matthew Katz, "Historically, merchants of all sizes have struggled to prevent, fight and recover chargebacks due to lack of resources and expertise as well as changing processor rules. With so much money on the line, merchants turn to Verifi because, unlike other chargeback management providers, Verifi addresses both chargeback prevention and recovery. Customer feedback and continual innovation is what allows Verifi to offer one of the most comprehensive chargeback management platforms in the industry.

For more information about the CNP awards, visit www.cardnotpresent.com. To learn more about Verifi, visit www.verifi.com.

ABOUT VERIFI

Founded in 2005, Verifi is a full-service provider of global electronic payment and risk management solutions for card-not-present (CNP) merchants. Based on a multi-layered approach, Verifi's risk management solutions empower Merchants to gain control and transparency into the entire payment process -- from global payment acceptance and processing, order screening, and revenue recovery/maximization to fraud/risk management and payment security. For more information about Verifi, please contact Ben Bradley at (630) 430-7267 or ben@maconraine.com or visit the Verifi website at www.verifi.com.

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