Visa has completed its previously announced acquisition of Verifi, a payment protection solutions provider, for an undisclosed sum.
Based in California, Verifi specialises in delivering solutions to resolve payment disputes and eliminate chargebacks.
Serving over 25,000 accounts globally, Verifi will continue to support it customers and partners.
In June this year, Visa signed a deal to acquire the company to bolster its risk and fraud management solutions portfolio.
It enables the payment major to extend its dispute resolution capabilities to assist other payments brands and partners.
Additionally, the deal complements Visa’s value-added capabilities, increasing convenience for customers doing business.
At the time of announcement, Visa global head of seller solutions Mary Kay Bowman said: “The addition of Verifi’s technology to Visa’s risk management solutions will introduce greater collaboration and insights to help resolve disputes quickly.
“Facilitating trust and transparency across the buying experience is core to Visa’s brand promise and Verifi’s technology and expertise will extend these capabilities to more partners across the payments ecosystem.”
The combination of capabilities is expected to expedite the dispute management process in near real-time, thereby saving time and resources.
It also provides buyers and sellers with data-driven tools to facilitate collaboration and boost customer experience.
In July, Visa snapped up German point of sale (POS) payment gateway software provider Payworks.