Visa (NYSE: V), the world’s leader in digital payments, is to acquire Verifi, a Los Angeles, CA-based provider of technology solutions that reduce chargebacks.
The amount of the deal was not disclosed.
With the acquisition, Visa will extend its chargeback and dispute resolution capabilities to support a broad range of payments brands and partners across the ecosystem. Verifi’s dispute resolution tools will be combined with Visa’s suite of risk and fraud management solutions to give buyers and sellers data-driven tools that foster collaboration and improve the overall customer experience.
Led by Matthew Katz, CEO, Verifi has been a leader in the payments industry, providing innovative, end-to-end payment protection solutions that minimize fraud risk and eliminate chargebacks.
The company serves more than 25,000 accounts around the world.
The close of the transaction is subject to required regulatory approvals and other customary closing conditions.
FinSMEs
01/07/2019