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Maxpay Implements Verifi’s RDR Solution to Prevent Chargebacks
Maxpay, a payment gateway service provider, now offers businesses more chargeback prevention tools. Merchants that use Maxpay can easily access the Rapid Dispute Resolution (RDR), developed by Verifi – a payment protection and management solutions company, in collaboration with Visa.
RDR is a product aimed at reducing the number of chargebacks a business can get by issuing an unsatisfied client a refund before the dispute occurs. Verifi sets the automatic refund in motion only when the transaction that is about to be disputed appertains the refund rules that the merchant has established with Verifi prior.
It means that if a client is ready to dispute the payment, the RDR feature automatically sends them a refund if the transaction falls under the refund rules of a merchant. Verifi notifies the company via the report.
Now the Rapid Dispute Resolution is available for all the merchants that use Maxpay. The clients only need to notify their account manager and explain the automatic refund rules they want to enable for transactions that can be disputed. Maxpay’s account managers will apply the merchant for the RDR and send the concerted refund rules. From the very beginning, Maxpay takes over the process for their clients’ convenience and will send the merchants the reports on all the RDR transactions for easier business performance tracking.
As a result, the merchants don’t need to involve the additional personnel in refund issuing processes. Most importantly, they will avoid unnecessary disputes and keep their chargeback ratios low, as the automated refunds will not influence these metrics.
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