Verifi Launches Self-Service Chargeback Representment
Chargebacks: a friend to consumers and an enemy to merchants. The sad part about that statement is that chargebacks were only meant to help and protect the consumer. However, the act of a chargeback makes a merchant’s job much harder, taking the money out of their pocket.
Now, Verifi looks to help merchants fight chargebacks with a new in-house system of chargeback representment. The main reason chargebacks are so damaging is that they take money away from the merchants without a strong ability to dispute them. Now merchants have a method of acquiring the proper paperwork for chargeback disputes.
“Self-Service Chargeback Representment was created to meet the demands of merchants whose dispute teams require a single platform that allows for easy adoption, maximized wins, and highly efficient management,” said Matthew Katz, CEO of Verifi. “Self-Service Chargeback Representment streamlines the process, enabling merchants to focus on revenue recovery without the challenges of manual tracking, document collection, and other hurdles in the dispute management process.”
Fortunately, for merchants, Self-Service Chargeback Representment has multiple benefits to its use. For instance, being that a merchant can have multiple disputes to handle from different sources, Self-Service Chargeback Representment combines all disputes under the Verifi | One portal. This eliminates the need for the merchant to track down every single chargeback. The platform also prioritizes chargeback situations, letting merchants know what they have to focus on first.
Chargebacks present a serious issue for merchants, actively removing a large amount of revenue from existence. Eating away at a business’ bottom line can be devastating, doubly so for smaller businesses. Verifi looks to help lighten the load merchants face as almost a quarter of merchants lose their chargeback disputes. Hopefully this helps to reverse the trend over time.