A new alliance aims to empower merchants navigating the complexities of cross-border payments. TrustDecision, a global leader in risk decision intelligence, and Verifi, a Visa subsidiary specializing in chargeback management, announced a strategic partnership according to a press release issued by TrustDecision. This collaboration seeks to equip merchants with advanced, localized risk control solutions and professional services.
The press release highlights the growing significance of cross-border payments, which have opened doors for businesses in sectors like e-commerce, travel, and entertainment. However, this expansion also introduces new fraud risks, particularly chargebacks, which can significantly impact merchant profits. According to Statista, mitigating fraud and chargebacks has been the top priority for online merchants in their fraud management strategies for the past three years, as cited in the press release.
By combining their expertise, TrustDecision and Verifi aim to create a powerful defense against escalating chargeback threats. The press release details how the partnership will leverage the strengths of both companies:
- Verifi: Offers real-time chargeback alert services for Visa cards.
- TrustDecision: Utilizes its robust risk control engine to identify and intercept suspicious transactions.
This integrated solution will empower merchants to proactively manage chargebacks and minimize financial losses.
The press release introduces TrustDecision as a global leader in risk decision intelligence, specializing in fraud and credit risk management. With a reach spanning over 150 countries, the company leverages advanced technology to assist businesses worldwide.
“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, as quoted in the press release. “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, is recognized for its expertise in managing chargeback risks through real-time information sharing and pre-dispute resolution.
“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,” said Karen Coffey, Global Head of Channel Partnerships at Verifi, according to the press release.
Looking ahead, the press release concludes by outlining TrustDecision and Verifi’s commitment to continuously refine their risk control solutions. This ongoing collaboration aims to create a safer and more reliable environment for international business by effectively mitigating fraud and fostering the healthy development of the cross-border payments industry.
