Verifi, Inc.: Company Research Report

Company Overview

• Name: Verifi, Inc.

• Mission of the Company: Verifi aims to streamline the dispute process and improve the customer experience for all major card brands. It focuses on helping merchants prevent and resolve disputes by leveraging compelling evidence, data transparency, and merchant-initiated or rules-based refunding on a global scale.

• Founded: 2005

• Key People: No information is available

• Headquarters: 5670 Wilshire Blvd., Suite 2500, Los Angeles, CA 90036

• Number of Employees: No information is available

• Revenue: No information is available

• Known For: Verifi is known for being a provider of next-generation post-purchase solutions that help merchants maximize profits, reduce financial loss, and improve customer satisfaction by preventing and resolving disputes.

Products

Order Insight®

• Description: Order Insight is designed to prevent disputes from occurring by providing enhanced transaction details to issuers and cardholders.

• Key Features:

• Reduce billing confusion and confirm valid sales

• Improve customer experience by providing access to digital receipts

• Fraud dispute deflection by validating transactions in real-time

CDRN® and RDR

• Description: These solutions resolve fraud and non-fraud disputes at the pre-dispute stage, offering a unified solution for pre-dispute resolution.

• Key Features:

• Resolve disputes within 72 hours through merchant-initiated refunds

• Coverage on all major card brands

• Optimizes processes to reduce disputes with low recovery rates

Dispute Representment (RECOVER)

• Description: This solution focuses on winning back revenue lost to disputes through comprehensive dispute management.

• Key Features:

• End-to-end dispute representation

• Dedicated team of specialists for building compelling evidence cases

• On-demand reporting to aid financial forecasting

Recent Developments

• New Products Launched: No specific information about new products launched.

• New Features Added to Existing Products:

• Introduction of Visa’s Compelling Evidence 3.0 (CE3.0) in April 2023, which aims to reduce first-party misuse (friendly fraud).

• New Partnerships or Strategies:

• Partnership with Visa to implement CE3.0 for better post-sale fraud protection.

• Strategies to connect merchants to a global network of over 99% of all Visa issuers, expanding coverage to non-Visa issuer portfolios.

Conclusion

This report provides a detailed analysis of Verifi, Inc., highlighting its role in providing solutions for preventing and managing credit card disputes. The company utilizes cutting-edge technology to minimize financial losses caused by chargebacks and to enhance overall customer service experiences across various industries globally.