Payverifi Releases a Revamped Certificate of Authentication Feature To Eliminate Merchant Chargebacks
Campbell, CA (PRWEB) September 29, 2015 -- Payverifi has become the industry leader in merchant chargeback protection and prevention where card-not-present transactions are concerned, and now the company is providing an extra feature to ensure that clients are able to eliminate the risk of fraudulent charges and subsequent chargebacks. Payverifi is offering certificates of authentication and guaranteed payment on those transactions so that should an order that has been authenticated be charged back for card not authorized, PayVerifi will guarantee the payment and the merchant will not be liable, which essentially eliminates first party fraud.
The authentication certificate will be made available to Payverifi clients this October. The new software feature is able to pin down a customer to each transaction that uses a phone number, and it captures the device ID information in order to verify that the customer is indeed making a legitimate purchase. By capturing the data off the payment gateway and running initial transaction emails through the PayVerifi proprietary fraud detection software, Payverifi is able to limit the risk of fraudulent charges while simultaneously matching up each customer with their phone number and authorization with 100% certainty.
Chase Harmer, National Sales Manager of Payverifi, has stated that this feature is exceptional because it eliminates first party fraud, which has been on the rise every year, last year increasing by 41% alone. There is no other software on the market that can offer this service which makes PayVerifi a hot commodity for merchants taking payments in a CNP environment. Any merchant that has a problem with chargebacks in a CNP environment would be assured to increase their bottom line with this product.
"We're the only company on the market right now that can capture device information, which is huge," Harmer said. "Any order that's made through the mail, telephone, or TV -- any transaction where a customer uses their phone number to give CC information -- our system can capture the device information and validate the location and identity of the customer."
Payverifi's chargeback protection software reduces and eliminates most of the risk of all three types of chargebacks: criminal identity theft and credit card theft; merchant ordering errors; and first-party fraud where the customer claims to have not received the item ordered or that the card was not authorized by consumer.
About Payverifi
PayVerifi helps merchants process card not present payments. Their patented process ensures that merchants will no longer have to deal with claims of services not being delivered, or consumers never ordering the services in the first place. PayVerifi helps to ensure a better experience for both businesses and their clients. To learn more, visit http://www.payverifi.com
Chase Harmer, Payverifi, http://payverifi.com, +1 (669) 231-1370, [email protected]
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