Kount Announces Near Real-Time Chargeback Prevention Solution and Integrates with Verifi, a Visa Solution, for Dispute Management
Boise, Idaho - October 1, 2020 -- Kount, a leader in digital fraud prevention and identity trust, is partnering with Verifi, a Visa Solution, to extend its dispute management solutions to Kount's platform with the Near Real-Time Chargeback Prevention Solution. Verifi's PREVENT and RESOLVE solutions enable businesses to manage disputes at the pre-dispute stage, helping prevent chargebacks from ever happening, while Verifi's INFORM solution provides dispute and fraud notifications. Integrating Verifi's dispute management solutions will enable Kount's fraud prevention and digital identity platform to provide businesses near real-time payment protection without costly integration for multiple services.
Through this integration, Kount will be able to provide Verifi's post-transaction protection to businesses while enhancing the customer experience. Businesses will also benefit from Kount's expanded portfolio by deflecting invalid disputes, preventing friendly fraud, providing dispute resolution in near real time, and receiving notifications to prevent future disputes and fraud.
Bolstered by Verifi's pre-dispute solutions, Kount's services will now:
1. Stop fraudulent transactions and improve business operations with Kount's AI, Identity Trust Global Network, and advanced analytics
2. Provide issuers and customers with enhanced transaction information to prevent disputes and chargebacks at the point of customer inquiry with Verifi PREVENT (formerly Visa Merchant Purchase Inquiry [VMPI])
3. Resolve Visa disputes automatically and in near real-time with Visa and Verifi Rapid Dispute Resolution (RDR), using a robust decision engine and pre-defined rules customized by sellers
4. Resolve multi-card brand disputes more quickly with Verifi Cardholder Dispute Resolution Network™ (CDRN®), allowing merchants to provide a refund before the pre-dispute escalates to a chargeback, usually within 24 hours
5. Enable merchants, through Verifi INFORM, to help prevent future fraud and disputes with advanced notifications from one source through Kount's Identity Trust Platform, enhanced with data from Kount's network
"Verifi is excited to announce our new partnership with Kount," said Gabe McGloin, Vice President of International Business Development at Verifi, a Visa Solution. "Individually, we have powerful and unique fraud and chargeback prevention solutions, and by combining our solutions and adding Visa's global scale, we can provide the entire payments ecosystem with greater data visibility, faster dispute prevention, and enhanced payment protection."
Leveraging Kount's portfolio of services, expanded by Verifi's solutions, clients can expect to see a 5x return on investment in protection against friendly fraud and loss of valid sales, as well as chargeback prevention. Kount is further empowering its friendly fraud prevention team with the addition of Scott Adams, Vice President of Friendly Fraud. Adams brings extensive experience, having held fraud prevention roles with Riot Games and serving as the founding CEO of FraudPVP, a leading Visa VMPI facilitator.
"Kount is unmatched in experience with friendly fraud prevention, and our Verifi-enhanced platform solutions fulfill the needs we have observed in the industry for years," said Adams. "Previously, it was cumbersome for companies to fully utilize tools available through major card brands because of the need for tricky integrations and developer work. I am thrilled to join Kount as we take the initiative to lead the industry in making these tools available to businesses in real time."
Industry experts and analysts have already recognized Kount's achievements in friendly fraud prevention, with mentions in the recent Forrester Wave for Risk-Based Authentication, Q2 2020, and again when Kount was recognized as the overall leader in eCommerce Fraud Detection with a perfect score for implementation, integration, and third-party partnerships in the Mercator Advisory Group's eCommerce Fraud Detection assessment.
Since 2005, Verifi has been a leader in providing innovative, end-to-end payment solutions that protect against fraud, prevent and resolve disputes, and recover revenue lost to chargebacks. In 2019, Verifi was acquired by Visa, combining technologies to provide enhanced fraud and dispute management solutions on a global scale. Verifi creates strategic, adaptive technologies for sellers, payment facilitators, acquirers, and issuers, building sustaining partnerships to deliver value, increase profits, and promote brand growth. Visit: verifi.com
Kount's Identity Trust Global Network delivers real-time fraud prevention and account protection and enables personalized customer experiences for more than 9,000 leading brands and payment providers. Linked by Kount's award-winning AI, the Identity Trust Global Network analyzes signals from 32 billion annual interactions to personalize user experiences across the spectrum of trust -- from frictionless experiences to blocking fraud. Quick and accurate identity trust decisions deliver safe payment, account creation, and login events while reducing digital fraud, chargebacks, false positives, and manual reviews. Visit: kount.com
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