With our company's rapid growth, it becomes even more necessary to closely monitor chargeback rates, keep informed of new payment-related rules and regulations, and understand how they may affect our business
San Mateo, CA (PRWEB) September 12, 2007
Vindicia, Inc., a leading provider of payment management services for online merchants, has added leading social networking site Reunion.com as a customer for its ChargeGuard™ chargeback management services.
Chargebacks occur when credit card holders contact their bank to dispute a charge. Chargebacks especially impact Card-Not-Present (CNP) e-commerce merchants and can have a costly effect on a merchant's business. The CyberSource 2007 Annual Online Fraud Report estimates that $3 billion in online revenues were lost to online fraud, that chargebacks accounted for approximately half of the fraud losses, and that the time spent handling chargebacks ranged from 30 minutes to 1.8 hours per chargeback.
"With our company's rapid growth, it becomes even more necessary to closely monitor chargeback rates, keep informed of new payment-related rules and regulations, and understand how they may affect our business," said Jeffrey Tinsley, Founder and CEO, Reunion.com. "By using Vindicia's ChargeGuard chargeback management services, we ensure that our credit card chargebacks are promptly and effectively processed, analyzed, and disputed. Vindicia's expertise in payment management gives us insight on why chargebacks are occurring and provides us with guidance on how to control chargebacks in the future."
"Controlling chargebacks is a critical issue that faces every online merchant," said Gene Hoffman, Jr., Chairman and CEO, Vindicia. "We're pleased to be providing best practices-based chargeback management services to Reunion.com."
Reunion.com is the leader in helping adults find and reconnect with old friends, relatives, classmates or anyone, as well as keep in touch with everyone they care about. Launched in 2002 by Jeffrey Tinsley, the company has continually introduced novel features and attracted a unique audience that sets it apart from other social networking sites. A privately held company, Reunion.com is based in Los Angeles, California. For more information, please visit http://www.Reunion.com.
Vindicia provides payment management services to ecommerce merchants through a recurring/automatic billing platform, outsourced chargeback management, and consulting services. Vindicia's CashBox™ product lets merchants improve customer retention and maximize profit by enabling rapid implementation of best of breed recurring billing capabilities. Its ChargeGuard™ service allows merchants to control chargebacks and recover lost revenue through chargeback processing, disputing, and prevention. A PCI Service Provider Level 1 company and SAS 70 Type 2 audited, Vindicia is a key payment management resource to many high-visibility digital merchants. For more information about Vindicia, please visit http://www.vindicia.com.
Phone: 310-571-3144 x170
Vindicia, the Vindicia logo, CashBox, and ChargeGuard are trademarks of Vindicia, Inc. All other product or company names are the trademarks of their respective owners.