Summary
- Visa said it has agreed to acquire Verifi for an undisclosed sum.
- Verifi has developed merchant customer dispute resolution software that improves the process and provides analytics.
- With the deal, Visa gains improved dispute management solutions as it seeks to automate the chargeback process.
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Quick Take
Visa (V) announced it has agreed to acquire Verifi for an undisclosed amount.
Verifi provides solutions that reduce the risk of fraud and chargebacks.
Visa will integrate Verifi’s technologies to provide improved dispute resolution tools and analytics for merchants and consumers.
Target Company
Los Angeles, California-based Verifi was founded in 2005 and has developed a solution that saves time and resources by connecting all participants of the dispute management process in real-time to resolve customer disputes before they turn into a chargeback.
Management is headed by Founder, Chairman and CEO Matthew Katz, who is also the CEO of Central Account Management System.
