Global leaders in risk management, TrustDecision and Verifi, have joined forces to provide advanced solutions for cross-border merchants. This strategic partnership focuses on tackling the growing challenge of chargebacks, a major source of financial loss for merchants in sectors like e-commerce, travel, and entertainment.
The rise of cross-border payments has opened new opportunities for businesses but also exposed them to new fraud risks. Chargebacks, where a customer disputes a transaction and receives a refund from their issuing bank, pose a significant threat to merchant profits. According to Statista, reducing chargebacks has been a top priority for online merchants for the past three years.
This collaboration aims to create a new ecosystem for managing chargebacks and enhance security for both merchants and financial institutions. TrustDecision, a leader in risk decision intelligence, will leverage its technology to identify and intercept suspicious transactions before they occur. Verifi, a Visa subsidiary specializing in chargeback management, will provide real-time alerts for Visa card chargebacks.
With TrustDecision’s presence in over 150 countries and Verifi’s expertise in chargeback resolution, the partnership will offer a comprehensive solution for cross-border merchants worldwide. This includes preemptive alerts against fraudulent transactions and efficient dispute resolution services.
“We are committed to leading the development of a comprehensive ecosystem for chargeback management,” said Bryan Zhang, CEO of TrustDecision. “This partnership with Verifi will significantly enhance our capabilities in managing international chargebacks.”
By combining their strengths, TrustDecision and Verifi aim to effectively reduce chargeback risk for merchants and minimize financial losses. This collaboration will not only contribute to a more secure payment environment but also support the long-term growth and health of the cross-border payments industry.
