Verifi

Verifi — the developer of the technologies allowing sellers and buyers to resolve disputes over an occasion of return of money founded in 2005.

History

2019: Visa purchased Verifi

On June 28, 2019 Visa announced Verifi acquisition. Financial and other terms of transaction of the company did not begin to open.

Return of payment or chardzhbek represents the procedure of contest of payment which is started by bank at the initiative of the client.  The merchant acquirer which received payment on the party of the seller can accept chardzhbek and return money to the buyer, and can reject.

There are cases when the bank can refuse a refund. For example, if the user made transfer by mistake or to the swindler, reported the code from the Sms, permitted to use the bank card, etc. In attempt to return means quite often there are disputes which as note in Visa, interfere with development of e-commerce and increase losses.

Visa purchased the developer of the technologies reducing chargebacks

The Verifi tools allow to integrate all disputing parties for its permission in real time. The conflict on payment can be solved before there comes need to make out chardzhbek.

Against the background of the remaining development of means of sending and receiving payments methods using which buyers and sellers interact for the dispute resolution on transactions should follow these fast rates of a trading activity — the head of department of solutions for sellers of Mary Kay Visa company Mary Kay Bowman says. — Inclusion of Verifi technologies in the solutions Visa on risk management will provide more extensive interaction and understanding of how it is possible to settle disputes quickly.

Visa is going to integrate the Verifi tools with own risk management services, including with the solutions CardinalCommerce and Cybersource. By the end of June, 2019 of Verifi services more than 25 thousand clients annually.^[1]

Notes