Verifi to tackle Card Not Present fraud for ANZ region

Monday 12 February 2018 09:39 CET | News

Verifi, a US-based end-to-end payment protection and management solutions company has entered the Australian and New Zealand markets.

The region’s strong rates of fintech adoption and increase in Card Not Present fraud were cited as the drivers behind the move. Data from the Australian Payments Network shows that CNP fraud accounted for 78% of all card-based fraud in 2016, posing a significant challenge to businesses as they deal with more chargeback claims based on fraudulent transactions.

Verifi’s Cardholder Dispute Resolution Network (CDRN) directly integrates with top issuers to help merchants and issuers resolve disputed payments. Handling over 1 million chargeback cases monthly, CDRN provides merchants with visibility into fraud and non-fraud customer disputes in near real-time. In addition to expanding into new markets, Verifi also launched a new chargeback and fraud mitigation service.

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Keywords: Verifi, end point protection, Australia, fraud prevention, ecommerce, chargebacks, CNP fraud, merchants, issuers
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime