Disputing Chargebacks with BlueSnap & Verifi
For online retailers, every chargeback that is prevented contributes (in a positive way) to the bottom line. But what tools and resources do e-commerce merchants have at their disposal? If you're a user of BlueSnap payment gateway, you now have access to Verifi's Cardholder Dispute Resolution Network (CDRN).
BlueSnap recently partnered with the payment and risk management solution for card-not-present merchants (such as online retailers) to make available its chargeback management solution and enable merchants to respond and resolve disputes directly with the customer - before they turn into chargebacks.
Chargebacks, according to Verifi, currently cost merchants upward of $40 billion per year, with every $100 in chargebacks estimated to cost a merchant $308 in time, fees, penalties and product. Verifi's CRDN however can prevent up to 40 percent of fraud and non-fraud chagebacks - from identify theft to buyer's remorse - according to the company, which could provide substantial savings for online retailers and e-commerce merchants.
"We are extremely pleased that such a well respected payments organization like BlueSnap has entrusted us as a resource to their merchant community. Our relationship allows us to further expand our chargeback protection solutions into the diverse and rapidly growing PSP market space," said Matthew Katz, CEO of Verifi, Inc.