Verifi, an end-to-end payment protection and risk management company, has released a new service to combat chargebacks with in-house dispute management.
Chargebacks cost merchants over $19bn last year in lost profits, employee time, company resources and associated fees and penalties, Verifi claims. The new Self-Service Chargeback Representment solution is a single web-based solution which lets merchants’ chargeback management teams with instant access to critical information needed for chargebacks.
This new solution is available merchants as a SaaS, single login platform, and offers quick and in-depth management of disputes from multiple sources and acquirers, removing the need of manual tracking.
The solution also boasts robust analytics on a user-friendly dashboard to track disputes and identify real-time process improvements, as well as a case management review tool and case prioritisation to ensure streamlined handling.
Its self-service solution also identifies and recommends the required data elements for each dispute, ensuring merchants effectively compile dispute response and comply brand’s rules regarding the chargebacks.
Verifi CEO Matthew Katz said, “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.
“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.”
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