Verifi does not offer chargeback insurance at this time. What we do offer (and guarantee) is complete chargeback assurance.
With Verifi’s award-winning Cardholder Dispute Resolution Network solution, you avoid being hit with painful chargebacks and the resulting costs of inadequate chargeback dispute handling.
CDRN connects issuers and merchants on our secure network, routing cardholder-initiated disputes from the top issuing banks directly to the merchant in near real-time, to stop both fraud and non-fraud chargebacks before they happen.
CDRN’s patented closed-loop process improves how merchants respond to disputes. The speed at which chargebacks are reported through CDRN is 60% faster than traditional chargebacks, meaning merchants can reduce losses from goods shipped or provisioning of services and second chargebacks.
In effect, the merchant does not have to rely on the guesswork or endure the burdensome side effects of some other tools that rely on open-loop processes, including:
- Paying for alerts that are not really chargebacks. Other solutions can have false positive alert rates of 50% or more.
- Lost profits to over-refunding by not recognising false positives, which lead merchants to issue refunds on disputes misidentified as chargebacks
- Increased operational costs and internal resource burden to fight chargebacks that do not exist
- Unnecessary manual reviews that increase labor costs are a resource burden.
