Alleviating a $40 Billion Chargeback Problem for Card-Not-Present Merchants
Tuesday, May 26, 2015
One of the most persistent and costly problems facing merchants that accept card-not-present payments is the issue of chargebacks. As a leader in e-commerce solutions, we’ve been grappling with this issue and have made it a priority to research solutions that would enable our online merchants to reduce costs related to chargebacks and manage their growing risks.
That’s why we recently collaborated with Verifi, a provider of payment and risk management solutions for card-not-present merchants. Verifi will provide Heartland customers with immediate access to its award-winning Cardholder Dispute Resolution Network (CDRN™) to lower their chargeback risks—by 40 percent or more.
In addition, CDRN’s patented, closed-loop platform avoids false positives present in other solutions, which can increase chargeback costs to merchants and result in unnecessary over refunding. The solution’s “white glove” Premier Chargeback Representment Service will allow Heartland merchants to reclaim the profits lost to chargebacks that do occur, thus boosting their bottom line.
Available as a fully managed service or via its self-service merchant portal, CDRN processes hundreds of thousands of chargebacks every month for businesses of all sizes―from emerging companies to some of the largest FORTUNE 500 brands. Backed by a zero defect guarantee and covering both fraud and non-fraud related chargebacks, CDRN’s easy set options require little to no IT involvement and can be live in just days.