WALTHAM, Mass., July 7, 2015 /PRNewswire/ -- Global payment gateway BlueSnap, today announced a partnership with Verifi, Inc., the leading provider of payment and risk management solutions for card-not-present merchants. Verifi's technology will help BlueSnap merchants prevent chargebacks. BlueSnap will offer these services alongside a full suite of fraud protection measures.
According to Verifi, chargebacks cost merchants as much as $40 billion per year. Whether caused by identity theft, stolen payment cards or buyer's remorse, every $100 in chargebacks is estimated to cost a merchant $308 in time, fees, penalties and product.
In order to help merchants prevent chargebacks before they happen, BlueSnap is making Verifi's Cardholder Dispute Resolution Network™ (CDRN) available to customers. CDRN is a chargeback management solution that gives merchants the ability to respond and resolve disputes directly with the customer - before they turn into chargebacks. CDRN can prevent up to 40% of fraud and non-fraud chargebacks.
BlueSnap's Smarter Payment gateway enables merchants to reach consumers in 180 countries, serving up 29 languages, 60 currencies and 110 payment types, all localized according to the shopper's location. Verifi will complement BlueSnap's existing security and fraud prevention measures, which include tokenization, client-side encryption, card fingerprinting and real-time fraud assessments.
"For our customers, every prevented chargeback contributes to the bottom line," said Ralph Dangelmaier, CEO of BlueSnap. "That is why we sought out the top solution on the market. Three years in a row, Verifi has been named the Best Chargeback Management Program by the judges at the Card Not Present awards. Their technology is outstanding."
"We are extremely pleased that such a well respected payments organization like BlueSnap has entrusted us as a resource to their merchant community. Our relationship allows us to further expand our chargeback protection solutions into the diverse and rapidly growing PSP market space," said Matthew Katz, CEO of Verifi, Inc. "We look forward to helping BlueSnap merchants stop up to 40% of their chargebacks and protect their bottom line with CDRN's patented closed-loop process."
Verifi, an award-winning provider of end-to-end payment protection and management solutions, was founded in 2005 to help merchants effectively manage the payments challenges they face every day. Verifi helps merchants safely process payments, combat fraud, prevent and resolve costly chargebacks, as well as increase billings and keep loyal customers. Our best-in-breed solutions and white glove support are trusted by a wide range of industries from emerging companies to the Fortune 500. Headquartered in Los Angeles, California, we process more than $20 billion transactions annually and currently serve more than 7,000 accounts globally. For more information, visit: www.verifi.com.
BlueSnap is a smarter global payment gateway powering the checkout process for eCommerce merchants worldwide, and fueling growth for online businesses serving global markets. BlueSnap is fulfilling its promise to convert more shoppers to buyers worldwide. Learn more at www.bluesnap.com.