Visa to acquire Verifi
Visa has announced it has signed a definitive agreement to acquire Verifi, a provider of technology solutions that reduce chargebacks. The combination of Verifi’s dispute resolution tools with Visa’s suite of risk and fraud management solutions is designed to give buyers and sellers intelligent, data-driven tools that foster collaboration, build trust, and improve the overall customer experience. With the addition of Verifi, Visa will extend its chargeback and dispute resolution capabilities to support a broad range of payments brands and partners across the ecosystem.
The current chargeback process provides information about a transaction through various offline channels and platforms. Verifi’s technology solutions save time and resources by connecting all parties in the dispute management process in near real-time to resolve disputes before they become a chargeback. Verifi serves more than 25,000 accounts around the world.
Visa will integrate Verifi’s enhanced chargeback tools with its risk management services, including those delivered by CardinalCommerce and CyberSource. Buyers, sellers, issuers and acquirers will receive greater automation, near real-time communication and data-driven insights through every stage of the customer journey.
Closing of the transaction is subject to required regulatory approvals and other customary closing conditions.