TrustDecision partners with Verify to enhance chargeback fraud management for cross-border merchants by integrating Verifi's real-time chargeback alert services into our advanced fraud management system. Our joint efforts aim to redefine risk control, ensuring transaction integrity and supporting digital business growth worldwide.
June 24, 2024
3 minutes
Elaine Cheong, Yuqi Chen
TrustDecision, a global leader in risk decision intelligence, and Verifi, a Visa subsidiary specializing in chargeback management, have formed a strategic partnership. Together, they aim to combine their strengths to provide advanced, localized risk control solutions and professional services for cross-border merchants in sectors such as e-commerce, payments, entertainment, airlines, hotels, and gaming. This collaboration will establish a new ecosystem for managing chargebacks, enhancing security for financial institutions and merchants worldwide.
The rapid growth of cross-border payments has opened significant business opportunities for merchants but has also exposed them to new types of fraud, including chargebacks, a major risk that can erode profits and disrupt the payment ecosystem.
TrustDecision’s comprehensive fraud management system monitors every phase of the customer lifecycle, encompassing registration, login, transaction processing to promotion engagement. This approach equips merchants with a holistic anti-fraud strategy that enhances visibility and control, significantly reducing the dependency on multiple vendors and complex integrations.
By incorporating Verifi’s real-time chargeback alert services, TrustDecision’s platform enhances its risk control engine, allowing proactive identification and interception of suspicious transactions through advanced data analytics, thereby minimizing the financial losses associated with chargebacks. The solution encompasses:
This partnership will be a powerful force in addressing growing chargeback risks and enhance overall fraud strategy for digital businesses. "We are excited about this strategic partnership with Verifi, which will significantly enhance our capabilities in managing international chargebacks," said Bryan Zhang, CEO of TrustDecision. "We are committed to leading the development of a comprehensive ecosystem for chargeback management to protect the rights and interests of our customers fully."
Verifi, a subsidiary of Visa specializing in chargeback resolution solutions, excels in managing chargeback risk for merchants and banks through real-time information sharing and resolution of pre-disputes. Karen Coffey, Global Head of Channel Partnerships at Verifi, added, "TrustDecision is a strategic partner for us in the APAC market, and we are very excited about expanding our product offering in the region. Together, we aim to provide a seamless chargeback resolution experience for our issuer bank and merchant clients."
Moving forward, TrustDecision and Verifi will continue to refine their risk control solutions for cross-border payment scenarios, quickly adapting to new fraud tactics and providing comprehensive, one-stop risk protection for merchants. This ongoing effort will not only secure cross-border payments further but also support the long-term, healthy development of the industry, creating a safer and more reliable environment for international business.
Verifi, A Visa Solution is a leading provider of next generation post-purchase solutions, that streamline the dispute process and improve the customer experience. Available for all major card brands, Verifi solutions help merchants globally to prevent and resolve disputes by sharing compelling evidence, data transparency and merchant-initiated or rules-based refunding. Verifi equips merchants, issuers and acquirers to reduce financial loss, create operational efficiencies, and remove unnecessary fraud and first-party misuse disputes from the payment ecosystem. Visit: verifi.com.
TrustDecision is a leader in decision intelligence powered by AI, ML, Big Data, and Privacy-Preserving Computing, provides innovative end-to-end solutions that help businesses combat fraud, deliver innovative credit risk analytics, and ensure regulatory compliance. TrustDecision’s technology serve end-customers in more than 150 countries and is widely implemented across various sectors, including retail, e-commerce, payment services, banking, online entertainment, and more. Visit: trustdecision.com
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TrustDecision empowers businesses with AI-driven decision engine designed for fraud prevention, credit risk decisioning and ensure regulatory compliance. It leverages on machine learning models and big data capabilities to deliver real-time risk insights with accuracy and automate decision-making process to deliver maximum operation efficiency.
