The Green Sheet Online Edition
January 26, 2015 • Issue 15:01:02
Portfolio management to protect revenue, prevent chargebacks
Verifi Inc., a global provider of payment and risk management solutions for card-not-present merchants, has a patented Cardholder Dispute Resolution Network (CDRN) service designed to stop chargebacks before they happen. The browser-based solution, originally introduced in 2007, connects merchants with issuers to address cardholder inquiries.
Verifi's independent research has shown that many consumers tend to vote with their credit cards by notifying their payment card issuers of problems with products or services. Merchants don't always have the opportunity to rectify situations or control outcomes when customers work directly with issuers. The CDRN Merchant Portal solves this problem by notifying merchants in real-time of customer disputes and inquiries. Merchants can then decide to refund the transaction or allow the dispute to become a chargeback.
Benjamin Grossman, Managing Director of Pinpoint Intelligence LLC, is a Verifi referral partner that provides Verifi's CDRN services to clients. "Having been a merchant myself, I am able to use the Verifi CDRN Alerts to help my clients manage their chargebacks and marketing with more clarity and peace of mind," Grossman said.
Verifi noted that ISOs can use CDRN as a strategic portfolio management tool to differentiate from competitors, mitigate risk, increase retention and create additional revenue streams. Risk managers can use the tool to improve chargeback ratios and risk profiles of prospective and existing customers in their merchant portfolios.
RocketGate has incorporated Verifi's CDRN into the company's e-commerce solutions. RocketGate founder Jason Burns is happy with the results. "CDRN delivers exactly what they claim – reduced chargebacks – which our clients love," Burns said. "Additionally, the product was well developed with service provider resellers in mind; we integrated it directly into our gateway allowing for automated dispute functionality for our clients. CDRN assists with our client retention and further differentiates us from our competitors."
To learn about Verifi's Partner Program, contact Rick Lynch, Vice President of Business Development at 323-655-5789 or firstname.lastname@example.org.
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