PCI-DSS innovator PayShield announced a partnership with Visa’s Verifi, a chargeback protection suite solutions provider this week.
PayShield selected Verifi to bolster its Express Resolve chargeback prevention solution in the Asia Pacific (APAC) region. Australia-based PayShield is leveraging Verifi’s dispute management tools that offer pre-dispute management solutions for chargebacks. Specifically, Verifi offers a three-pronged approach, allowing merchants to prevent disputes, resolve disputes, and inform the parties involved.
“PayShield has invested an incredible amount of time, effort, and resources into developing and testing our unique API and we are thrilled to be able to offer our ‘Express Resolve’ product to APAC merchants in partnership with Verifi,” said PayShield CEO Daryn Griggs. “Through the PayShield and Verifi relationship, merchants benefit from a global pre-dispute coverage that enables them to identify, resolve, and respond at unmatched velocity, which in turn, delivers higher successful resolution rates and greater cost savings.”
PayShield’s implementation is a timely one, as many merchants and services have had to move their sales online. This increase in card-not-present transactions has increased the potential of fraudulent activity in online purchases. Integrating Verifi’s dispute management tools offers a holistic solution for PayShield’s merchant clients, ultimately helping them land higher win rates, reduce manual reviews, and boost profits.
Founded in 2005, Verifi was acquired by Visa in 2019 for an undisclosed amount. Today’s deal marks Verifi’s first Australia-based partnership. “Extending global coverage by creating meaningful relationships with partners is important for us to enable sellers and issuers to benefit from pre-dispute solutions and evolve the chargeback process to enhance the cardholder experience,” said Verifi CEO Matthew Katz.