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Verifi is a payment protection and management firm founded in 2005. It is based in Los Angeles, California, and has close to 9000 verified accounts.[as of?] It was acquired by Visa Inc. in 2019 for an undisclosed sum.[1]
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| Company type | Online Payment, International Money Transfer and Prepaid Debit Cards |
|---|---|
| Founded | 2005 |
| Headquarters | Los Angeles, CA, United States |
Key people | Matthew Katz, CEO |
| Website | www |
History
editMatthew Katz, Verifi’s founder and CEO, started the company after developing a way to identify multiple types of payment risk.
Process
editThe company’s primary product offering is Cardholder Dispute Resolution Network (CDRN), which helps connect financial organizations and merchants, allowing merchants to act in real time to issue refunds, work to clear up equivocal transaction histories, or initiate traditional chargeback procedures.
In April 2017, Verifi launched Order Insight,[2] a collaboration platform that connects cardholders, merchants and issuers to resolve billing confusion and disputes in real time. Through the platform, order details are made available to consumers via their card issuer. If a consumer elects to contact the issuing bank, their call center or back office personnel have access to the same order details and compelling evidence.
Industries
editVerifi works within most retail-related industries, with omni-channel and e-commerce merchants, and maximizes "payment yield" across the entire transaction life-cycle.[3]
References
edit- ^ Amore, Samson (2019-09-13). "Visa Acquires Payment Protection Company Verifi". Los Angeles Business Journal. Retrieved 2023-07-11.
- ^ "Verifi's Order Insight Facilitates Merchant Communication With Customers". PYMNTS.com. 22 Nov 2016.
- ^ Tugend, Alina (26 Jul 2016). "Merchants hit by chargebacks look to hire help". Creditcards.com. Yahoo Finance.