Verifi Solutions
Safeguard your Visa transactions with Verifi, a leading solution for minimizing disputes and ensuring secure payment processing. Verifi offers an effective way to recover revenue, prevent disputes, address pre-disputes, and ensure transactions are managed with precision and care.
With Verifi alerts,
you will enjoy the following benefits:
Transaction security
Real-time dispute prevention
Chargeback cases reduction
Fraud protection
Secured merchant accounts
and reputation
RDR (Rapid Dispute Resolution)
Rapid Dispute Resolution is an automated system designed to prevent disputes in their early stages before they become chargebacks. This solution distinguishes between fraudulent and non-fraudulent cases, offering a streamlined approach to dispute management. With RDR, you can be sure that your transactions are safe, as well as your revenue and the company’s reputation.
How Does RDR Work?
1
Issuer dispute inquiry
2
Automated decision
3
Acquirer refund
4
Chargeback prevented
Key Features of RDR:
- Early dispute prevention and fraud detection
- Enhancing merchant security with timely alerts
- Maintaining higher transaction success rates by efficiently resolving pre-disputes
CDRN (Cardholder Dispute Resolution Network)
The Cardholder Dispute Resolution Network is a Verifi feature that temporarily halts the chargeback process to resolve chargebacks and prevent transaction losses. With CDRN, you will be able to safeguard your merchant accounts and revenue, avoid penalties and costly fees, as well as enhance customer satisfaction and improve your business's reputation.
How Does CDRN Work?
1
Issuer dispute inquiry
2
Merchant directed
3
Merchant refund decision
4
Chargeback prevented
(if refunded)
Key Advantages of CDRN:
- Enhanced security for merchants
- Penalties and additional fees reduction
- Dispute number decrease
- Secured brand reputation
- Coverage for all major card networks
Compelling Evidence 3.0
Compelling Evidence 3.0 is a cutting-edge Visa solution designed to address friendly fraud, particularly for subscription-based businesses. Aimed at recurring payments, C.E3.0 helps detect and block fraudsters who request chargebacks after several purchases or long-term use of your service. By leveraging qualified transaction data from at least two eligible transactions, this tool enables sellers to counter Visa 10.4 disputes effectively.
How Does Compelling Evidence 3.0 Work?
1
Cardholder Dispute Initiated
🛑 The cardholder claims the transaction was fraudulent → The issuer initiates a dispute
2
Merchant Reviews Transaction History
📩 The merchant receives a dispute notification and analyzes the purchase history
3
Check for 2+ Undisputed Transactions
📊 If there are records of 2+ undisputed transactions (processed at least 120 days ago but not more than 365 days), the next step occurs
4
Transaction Analysis Sent to Acquirer
📤 The analysis of previous transactions is submitted to the acquirer
5
Issuer Reviews Submitted Evidence
🔍 The issuer reviews the provided transaction data
6
Fraud or Friendly Fraud Categorization
✅ If the details match the cardholder’s information, the transaction is categorized as friendly fraud
Qualified transaction data includes:
- Device ID or fingerprint
- IP address
- Login credentials or customer account information
- Details of purchased items
- Delivery address
This data can be accessed through the Order Insight feature, which allows issuers and cardholders to view detailed transaction information via a global data-sharing network, reducing chargebacks during initial inquiries.
Benefits of Compelling Evidence 3.0:
- Prevention of disputes at early stages
- Friendly fraud reduction
- Enhanced merchant accounts security
- Financial losses mitigation
Frequently Asked Questions
A chargeback is a charge returned to a customer if they win a payment dispute. Chargeback is not a refund, and unlike a refund, it is only possible after a dispute procedure.
Chargebacks are not a good thing for businesses of all sizes and types since too many disputes that resolve in chargebacks lead to penalties, significant financial losses, and even merchant account closure.
Overall, businesses lose around $125 billion yearly due to chargebacks. On average, for every $100 in chargebacks, a company loses $240. Chargebacks cost more than twice as much as the original transaction, which is why preventing them is so important.
There are many ways to prevent chargebacks, including clear return policies, billing delays, strong customer authentication rules, professional customer support service, and more. Yet the most efficient way to significantly reduce the number of chargebacks and prevent financial losses is by using up-to-date chargeback protection software like Ethoca and Verifi alerts.
Chargeback prevention alerts are tools designed to automatically detect dispute inquiries (especially potentially fraudulent ones) and prevent them from becoming chargebacks.
On average, the fees for chargeback prevention solutions range from $10 to $100, depending on location, payment processors, transaction amount, and other factors.
Contact Us
If you have any questions, comments, or concerns, feel free to contact us anytime.
We are always happy to answer all your questions.