The Green Sheet Online Edition
September 14, 2015 • Issue 15:09:01
Reliable, secure e-commerce authentication
PayVerifi, a payment technology company specializing in card-not-present (CNP) transactions and headquartered in Campbell, Calif., reported it has a patent-pending, secure method for verifying all forms of CNP transactions. PayVerifi solutions are designed to confirm and validate a range of CNP transactions to protect merchants and consumers from fraud, chargebacks and errors commonly associated with CNP transactions.
In commenting on the company's recent addition of four new board members, PayVerifi National Sales Manager Chase Harmer said he expects PayVerifi's exponential growth to continue due to increasing demand for its services. "The team that we put together makes us more capable of taking our business to the next level, and they will guide us in a lot of the things that we're looking to accomplish," Harmer said. "Our hope is to be the go-to place for merchants for mail orders, and I am confident that with this new board of directors in place, we will reach that goal."
Protecting the transaction lifecycle
PayVerifi communicates with merchants and consumers to verify purchases from initial transactions through product and service delivery. Additional post-service calls can help business owners confirm customer satisfaction while focusing on improving the quality of customer service for future transactions.
PayVerifi noted that its advanced analytics can detect fraudulent credit cards in domestic and cross-border payments, an essential service for any merchant involved in global processing. Merchants that use PayVerifi are notified when questionable transactions are submitted for authorization. A dedicated support team is available to assist merchants in validating and verifying suspicious online and MO/TO payment activities. This protection can help prevent fraudulent charges and chargebacks while enabling merchants to focus on core business activities.
A suite of solutions
Following are PayVerifi's extended suite of solutions:
- Transaction validation: PayVerifi's validation transaction process uses a green light/red light process to rate transactions, giving merchants the option of accepting or rejecting transactions before they are processed.
Anti-fraud detection: PayVerifi can detect fraudulent credit cards to prevent payment fraud before it occurs.
- Chargeback protection: PayVerifi's dedicated support specialists help merchants prevent chargebacks and offer comprehensive remediation services.
Payment gateway integration: PayVerifi's platform is integrated into most major payment gateways and can easily connect to new payment platforms through a simple application programming interface process.
- Secure payment services: PayVerifi is focused on building long-term relationships with its reseller partners and participating merchants through a range of products and services, as well as ongoing efforts to educate payment stakeholders on cybersecurity and best practices. Every payment system should have, at minimum, encryption and fraud detection software.
Studies have shown a higher incidence of chargebacks and fraudulent transactions among consumers who purchase goods by phone or by manually inputting credit card information. Many of these chargebacks originate from claims of not having received products or never having placed orders.
PayVerifi's purpose is to help remind, confirm and validate purchases for merchants across the country through enlightened management of consumer changes and modifications to facilitate efficient service and product deliveries.
ISOs and merchant level salespeople can use PayVerifi to educate their merchant customers on the risks associated with CNP transactions while helping them reduce their chargeback liability. PayVerifi reseller partners and distributors offer a suite of products and solutions to virtual and e-commerce merchants designed to improve their chargeback ratios. Merchants benefit from excellent customer service including phone and online support, the company noted.
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