RevGaurd, an industry leader in customer service optimization platforms, most notable for their Saas-based “Optimized Customer Outcome” (OCO), has partnered with Verifi, an industry leader in risk prevention, and as a result of their innovations they have recently been added to the DRF, to offer CDRN to their customer base.
Cardholder Dispute Resolution Network (CDRN) is a dispute center geared towards assisting merchants and issuers settle their disputes and to reduce chargebacks. CDRN works in real- time and notifies the merchants when the cardholder has contacted their bank or card company. Due to the quick notification of the dispute, the merchant can then decide to refund the charge or let the chargeback happen.
RevGaurd’s OCO integrates itself into the merchants’ IVR, web-interaction platform and ticketing system. The system has been proven to increase customer satisfaction, and to help reduce chargebacks and return issues. OCO has shown reductions of up to 50% in returns and a reduction of 31% in chargebacks. With the addition of CDRN, there is the added ability to add a reduction of up to 30% in disputes, before they are charged back.
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“Verifi is excited to offer its CDRN service through RevGuard, CDRN has an immediate impact, reducing chargebacks for merchants, as well as their operating expenses and risk.” Tony Wootton, Chief Revenue Officer at Verifi commented on the feature added to RevGaurds’ merchants.
“We are thrilled to be offering CDRN to our customers. The fact that it prevents chargebacks post-sale, rather than during the ‘checkout process’ makes it a very appealing solution for our clients who want to avoid anything that will disrupt their customer’s purchase process,” stated Blair McNea, CEO of RevGuard on the new addition to their OCO.
Chargeback reduction is always a high priority when working in a card-not-present environment. Companies like RevGaurd and Verifi help merchants focus more on presale and customer service, as opposed to chargebacks and disputes.