Solidgate and Verifi partner to simplify dispute management

This collaboration introduces the Rapid Dispute Resolution (RDR) API, designed to simplify the dispute resolution process and help merchants resolve disputes more efficiently, ultimately reducing potential financial losses.

The RDR API leverages Verifi’s infrastructure to enable merchants to handle disputes in real time. With this integration, businesses can instantly accept or decline disputes as soon as they are submitted by card issuers. The API aims to reduce the manual effort involved in dispute management, offering several key benefits:

• Real-time dispute management: merchants can automatically accept or decline disputes at the point of submission by card issuers, ensuring faster resolutions.

• Customizable strategies: the decision engine for RDR is highly adaptable, allowing merchants to configure their dispute-handling rules based on specific business goals and risk tolerance.

• Simple integration: the API can be integrated into existing systems, minimising disruption to daily operations.
  
  

Improving merchant efficiency and reducing costs

Dispute resolution has long been one of the most complex and costly aspects of payment processing for merchants. The process, often referred to as chargeback management, involves handling customer disputes related to transactions, which can arise for various reasons, including fraud, customer dissatisfaction, or technical errors. For merchants, chargebacks can be a financial burden, not only due to the direct cost of reimbursing the customer but also because of the operational costs involved in managing disputes, including staff time, administrative effort, and potential fines from card networks.

In recent years, the rise of online transactions and ecommerce has exacerbated these challenges, with disputes becoming more frequent as digital payments grow in volume. As a result, merchants are under increasing pressure to find ways to manage disputes more efficiently while minimising losses and maintaining customer satisfaction.