Best Chargeback Management Solution
As the result of its two-tiered approach to managing chargebacks, Verifi has been chosen by our panel of judges as the winner in the Best Chargeback Management category, the third year in a row it has received recognition in the CNP Awards.
Verifi’s Total Chargeback Management Services includes the award-winning Cardholder Dispute Resolution Network (CDRN) technology for chargeback prevention and its Premier Chargeback Representment Service (CBR) to recover profits lost to chargebacks.
Introduced in 2007, CDRN promotes mutually beneficial collaboration between merchants, issuers and acquirers. CDRN helps merchants escape the risks associated with high chargeback volumes, reduce fraud and chargeback fees as well as lower operational expenses through a patented six-step process, according to Verifi.
Verifi launched the CDRN Merchant Portal in August 2013. The portal makes chargeback management available to everyone via any browser and improves ease of use for merchants of all sizes (from startups to top e-commerce giants) who are unable to integrate with Verifi directly due to IT limitations or operational costs.
The company experienced several milestones in 2014. It saw new merchant adoption growth and distribution partner network growth of more than 200 percent, while its issuer network nearly doubled, according to Verifi. It says it increased U.S. card purchasing volume covered by $247 billion (fraud) and $137 billion (non-fraud).