Verifi Expands Cardholder Dispute Resolution Network (CDRN) Growth and Innovation Initiative With Strategic Appointment to Management Team

LOS ANGELES, CA--(Marketwired - Sep 3, 2015) - Verifi, Inc., the leading provider of payment and risk management solutions for card-not-present merchants, today announced the appointment of payment industry and product management veteran, Manav Gupta as Vice President, Issuer Products. Gupta will focus on product innovation and strategy to extend Verifi's Cardholder Dispute Resolution Network (CDRN) market leadership.

CDRN's award winning and triple patented chargeback prevention solution provides unmatched protection for Issuers and merchants through near real-time collaboration. CDRN's unprecedented "closed loop" process integrates directly with top card Issuers and redirects disputes from the Issuer to the merchant before they become chargebacks so they can be resolved directly with the consumer. Connecting Issuers directly with merchants allows the chargeback process to be paused, pending resolution and provides the most accurate and collaborative eco-system for both fraud and non-fraud disputes.

"Throughout my career I've worked with a number of payments providers, and they don't understand the importance of all the pieces in the chargeback puzzle -- closed-loop, collaboration with the highest quality data, continual innovation, award-winning workflow and processes -- represent the most customer centric way to address this growing problem. Stopping fraud and chargebacks effectively requires all the pieces to work in perfect harmony," said Gupta. "There are plenty of smaller, point solutions that do one or two things well. None that I've found work like Verifi to solve the entire chargeback problem with the speed and the accuracy needed to not only provide the merchant with the most accurate protection, but that also avoids defects and costly false positives. These "hidden costs" can essentially inflate expenses and result in lost profits due to over refunding."

Since its inception 10 years ago, Verifi has made continuous investments to improve the only truly proprietary, end-to-end chargeback system, expanding its network and helping merchants prevent chargebacks and also recover profits lost to unwarranted chargebacks.

Along with James Byler, Vice President Global Issuer Sales and Partnerships, and Brian Waller, Regional Head of North America Sales and Issuer Partnerships, who joined the team to accelerate CDRN network growth plans in the U.S. and internationally, Gupta brings more than 18 years of product management and a diverse breath of payments industry experience to his new role at Verifi.