Verifi: chargebacks cost merchant $40 billion per yearAccording to Verifi, chargebacks cost merchants as much as $40 billion per year. Whether caused by identity theft, stolen payment cards or buyer’s remorse, every $100 in chargebacks is estimated to cost a merchant $308 in time, fees, penalties and product.
Chargeback Management SolutionIn order to help merchants prevent chargebacks before they happen, BlueSnap is making Verifi’s Cardholder Dispute Resolution Network™ (CDRN) available to customers. CDRN is a chargeback management solution that gives merchants the ability to respond and resolve disputes directly with the customer - before they turn into chargebacks. CDRN can prevent up to 40% of fraud and non-fraud chargebacks.
BlueSnap's PaymentBlueSnap’s Smarter Payment gateway enables merchants to reach consumers in 180 countries, serving up 29 languages, 60 currencies and 110 payment types, all localized according to the shopper’s location. Verifi will complement BlueSnap’s existing security and fraud prevention measures, which include tokenization, client-side encryption, card fingerprinting and real-time fraud assessments.
Best Chargeback Management Program“For our customers, every prevented chargeback contributes to the bottom line,” said Ralph Dangelmaier, CEO of BlueSnap. “That is why we sought out the top solution on the market. Three years in a row, Verifi has been named the Best Chargeback Management Program by the judges at the Card Not Present awards. Their technology is outstanding.”
“We are extremely pleased that such a well respected payments organization like BlueSnap has entrusted us as a resource to their merchant community. Our relationship allows us to further expand our chargeback protection solutions into the diverse and rapidly growing PSP market space,” said Matthew Katz, CEO of Verifi, Inc. “We look forward to helping BlueSnap merchants stop up to 40% of their chargebacks and protect their bottom line with CDRN's patented closed-loop process."