Chargeback Management Solution
Verifi, a company that has been focused on limiting and managing chargebacks for merchants since 2005, garnered the most customer votes in the Best Chargeback Management Program category. The company says it leverages processor relationships and direct bank integrations for the data it needs to resolve chargebacks quickly and efficiently.
Verifi points to three factors that differentiate its solution from other available chargeback management systems. The company says its flexible-fee model has been especially popular with customers. Merchants can choose to pay only when a chargeback has been successfully recovered or by the overall volume of chargebacks processed. Additionally, reporting is handled via an intuitive dashboard that gives merchants insight into chargeback patterns and causes. The company says chargebacks can be sorted in the report by an array factors: reason code, AVS, CVV, sales month, BIN, card brand, device, location and more.
Perhaps the most important differentiator is the speed and simplicity with which its solution can be integrated. Verifi notes integrations can be completed in as little as five business days and that its solution integrates directly into CRM or order management systems.
In one case study, a Verifi client that experienced more than 15,000 chargebacks in a single quarter used the company’s solution to challenge nearly 11,000 of them, winning more than 8,400. The company recovered more than $2 million using Verifi’s solution. Clients experiencing results like this are the reason Verifi walks away with this year’s Customer Choice Award in the chargeback management category.
“Verifi never set out to establish its products and services as ‘one size fits all,’" the company says. “We treat and respond to each client's needs with a tailored response and program in the chargeback representment services space. We take great pride in assisting our merchant clients before, during, and after risk issues arise.”