Maxpay has joined forces with payment protection and management solutions company Verifi once again to bring our merchants another solution to avoid disputes. We are talking about Rapid Dispute Resolution, or RDR for short, developed by Verifi in collaboration with Visa.
With RDR, a merchant can prevent disputes altogether, as the issue that a client has will be addressed before they request a chargeback. This is all thanks to automatic refunds RDR issues on the behalf of the merchant.
Here’s an example of how Rapid Dispute Resolution works:
Imagine that your customer is about to request a chargeback for this or that reason. Verifi is notified of the situation and sends the client an automatic refund. Note that the refund will only occur, if the transaction parameters match up with the refund rules that you, the merchant, set prior, depending on your wants and needs. For instance, you can make it so every $100+ transaction will be refunded to prevent a dispute, etc.
Sounds interesting? Well, if you use Maxpay, you can contact your account manager right now and request the RDR tool. All you need to do is describe the rules you want to be implemented for the refund to occur. Basically, we will do everything for you. And the best part – you will be able to see all the reports on the refunds made via the RDR on the dashboard – for easier tracking and metrics analysis.
So, here’s what you get with the RDR solution delivered through Maxpay:
- No unnecessary disputes and your chargeback ratio will remain safe from crossing the threshold, as automatic refunds don’t influence it;
- Your employees will not have to deal with certain types of refunds manually;
- Our team will take over the whole application process for you;
- All the metrics on refunds made will always be accessible;
If you are still not a part of Maxpay’s family, find out how we can help you with merchant account opening. Experience seamless payment processing and accept cards and over 140 alternative payment methods.
We also provide other services for fraud detection and chargeback prevention. Find out more about Covery anti-fraud platform, VMPI solution for real-time dispute notifications, and Ethoca Alerts for a timely refund on fraud-confirmed transactions.