Matthew Katz, CEO of Verifi

Verifi, the provider of payment protection and risk management solutions, has debuted a new service for merchants fight chargebacks with in-house dispute management. Self-Service Chargeback Representment is designed, it said, to help merchants efficiently and effectively reclaim profits lost to disputes.

Chargebacks, according to Verifi, cost merchants more than $19 billion in 2018 alone in lost profits, employee time, company resources, and associated fees and penalties. In-house chargeback management teams are often overwhelmed, it claimed, by the dispute case load and documentation requirements. As many as 24% of merchants lose in the dispute response process because they are unable to provide the right documentation in time.

Self-Service Chargeback Representment is a single web-based solution designed to empower merchants’ chargeback management teams with instant access to the critical information needed to represent a chargeback.

“Self-Service Chargeback Representment was created to meet the demands of merchants whose dispute teams require a single platform that allows for easy adoption, maximised wins, and highly efficient management,” said Matthew Katz, CEO of Verifi. “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.”

Self-Service Chargeback Representment is the latest addition to the company’s suite of services. Additional services include Verifi’s patent pending Order Insight, which enables the sharing of robust transaction details between cardholders, merchants and issuers to reduce billing confusion, identify fraud, confirm valid sales, and eliminate chargebacks, and CDRN, which provides a patented closed loop process that directly integrates merchants with top issuers to resolve disputed payments and dramatically minimise chargebacks.

by Guy Matthews