Verifi offers a faster solution to resolve chargebacks and reduce costs for merchants and issuers.Per a report by Verifi, chargebacks cost related parties nearlyTo save on merchant and issuer costs and develop trust among network participants, Visa enhanced its risk and fraud management suite with Verifi.As a part of its strategic partnership, Visa has been enhancing its CyberSource platform with Payworks since 2018 before acquiring the latter in July 2019.
Payworks’ Pulse offers a solution for POS software providers and payment service providers to accept payments through multiple channels by integrating its payment gateway in their software. With Earthport, Verifi, and Payworks, Visa strengthened its digital product, risk management solutions, and merchant product categories, respectively. These deals enhance Visa’s offerings considerably, and should have a positive impact on Visa’s revenue growth figures as the company complements existing revenue drivers with newer ones in the evolving payments industry.
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