Read the full article: www.midmetrics.io/blog/vmpi-is-now…ht-for-merchantsSince 2017, Visa has provided a tool for effective, network-level dispute prevention called Visa Merchant Purchase Inquiry, or VMPI for short. In September 2019, Visa purchased Verifi, paving the way for a new iteration of dispute prevention technology.Verifi Order Insight improves efficiency for all parties in a payment ecosystem. By facilitating a more natural exchange of information, Order Insight makes it less likely that banks will issue chargebacks, harming the merchant for circumstances beyond their control.Order Insight’s platform integrates with top credit card issuers’ systems and allows all parties to access the relevant order details, resolving disputes before they become chargebacks. The information that Order Insight collects includes the date of purchase, the device used to process the purchase, merchant name and contact info, and details and descriptors for the purchased item or service.When the customer elects to call their card issuer, Order Insight provides the issuer’s representatives with the information they need to identify instances of potential fraud, flag suspicious cardholders, or resolve cases of legitimate confusion before the dispute becomes a chargeback.Order Insight helps merchants reduce the literal costs, time, and effort spent on dispute resolution, and brand damage of unnecessary chargebacks. It also helps card issuers operate more efficiently, provide better service to their customers, and reduce instances of “friendly fraud” by unscrupulous customers. Well-meaning and upstanding cardholders benefit from the transparent and efficient exchange of information that Order Insight provides.Some of the key benefits of Order Insight for merchants include the way it equips issuers to prevent disputes at customer inquiry; the way that it allows issuers to identify and prevent friendly and true fraud; and the fact that it can reduce fines and fees associated with chargebacks.Order Insight offers merchants portfolio protection from high-risk monitoring programs and multiple card-brand dispute prevention. It enables customers to clarify transaction confusion themselves and extends customer service and brand equity.Order Insight works in the following fashion: Step 1. The customer contacts the issuer with a transaction dispute. Step 2. The issuer sends a request for order information. Step 3. Order Insight processes and sends a request to the seller. Step 4. The seller sends order data to Order Insight. Step 5. Order Insight provides the issuer with order details. Step 6. The issuer reviews information with the customer and attempts to resolve the dispute.