Verifi, an end-to-end payments solution and provider of risk management services, has released a new self-service tool to help merchants fight chargebacks as quickly and effectively as possible.
The tool offers companies a one-stop, web-based solution to provide in-house fraud management teams instant access to all of the information required to represent a chargeback. Merchants will be able to use it to increase the efficiency and effectiveness of their fraud prevention operations.
In a statement released to the company’s website, Verifi CEO Matthew Katz highlighted the increased revenues merchants can expect to gain from the tool, while expending minimal effort to get them:
“Self-Service Chargeback Representment was created to meet the demands of merchants whose dispute teams require a single platform that allows for easy adoption, maximized wins, and highly efficient management,” Katz said. “Self-Service Chargeback Representment streamlines the process, enabling merchants to focus on revenue recovery without the challenges of manual tracking, document collection, and other hurdles in the dispute management process.”
In addition, the statement listed the features of the new tool:
- Single Portal: The new Verifi | One ™ portal will allow merchants a single access point for all of the information they need to fight a chargeback, removing the need to conduct manual tracking
- Key Compelling Evidence: The tool selects the relevant information for fighting a chargeback based on each individual card’s brand chargeback dispute rules, ensuring merchants never lose a chargeback dispute due a paperwork issue
- Case Management: Fraud teams have full visibility into every element of their team, and can receive guidance on how to deal with cases more effectively.
- Prioritization: The tool helps fraud team manager prioritize chargeback disputes, so they never miss a deadline and can focus on having effective responses prepared on time.
- Robust Analytics: UI is designed for ease of use, allowing fraud management teams to understand large volumes of data quickly, so they can find places to improve without getting bogged down in data analytics.
It remains to be seen how much the tool with help merchants better understand how to fight chargebacks in the future.