SOURCE: Verifi, Inc.

Verifi, Inc.

August 06, 2013 11:00 ET

Verifi's CDRN Service to Eliminate Chargebacks, Now Available Via Web-Based Portal to Simplify Merchant Adoption

With No Integration Required, Merchants of Any Size, and Working With Any Payment Processor, Can Now Utilize Verifi's CDRN Merchant Portal to Eliminate Chargebacks

LOS ANGELES, CA--(Marketwired - Aug 6, 2013) - Verifi, Inc., the leading provider of payment and risk management solutions for card-not-present merchants, today announced the availability of their patented Cardholder Dispute Resolution Network (CDRN) service through a browser based portal -- eliminating any integration barriers. Initially launched in 2007, the CDRN service has been a huge success as an API based integrated offering, connecting merchants with issuers to eliminate as much as 30% of their customer disputes before they become chargebacks. The new CDRN Merchant Portal will allow merchants to subscribe and begin using the service 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. The CDRN Merchant Portal provides the merchant with the option to either refund the transaction or allow the dispute to escalate to a chargeback. Verifi's CDRN service empowers merchants to manage disputes in a more timely and cost effective manner -- the new CDRN Merchant Portal is a convenient and effective method for Merchants to access this revolutionary service.

Verifi, through independent research, found that customers were contacting merchants directly only 14% of the time to resolve credit or debit card disputes for products they purchased and instead, customers were contacting their card Issuing Banks first 86% of the time! This meant that merchants had little opportunity to learn about and directly resolve these disputes with customers before they became chargebacks. This disconnect between merchants and their customers generates negative downstream effects for the issuer and the merchant, often in the form of bad customer experiences, lost revenue, unpaid and shipped merchandise, fees from their acquirer, potential fines from Visa and MasterCard, and could ultimately result in the loss of a merchant's ability to accept credit and debit cards. CDRN is intuitive and innovative, bridging the gap between merchants and issuers and representing the future of customer satisfaction and dispute resolution.

About Verifi, Inc.
Verifi, Inc. is a leading provider of global electronic payment and risk management solutions for card-not-present merchants. The highly customizable payment and real-time reporting platform serves as a foundation for Verifi's suite of fraud solutions and risk management strategies. With a commitment of reducing risk while increasing profitability for clients, Verifi's multi-layered approach enables transaction risk management and mitigation, business optimization strategies, cardholder authentication and chargeback re-presentment for all major credit card brands. Verifi is offered via Software-as-a-Service model and is PCI Level 1 certified headquartered in Los Angeles, California. For more information on Verifi, please visit: www.Verifi.com or please email us at Info@Verifi.com.

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