Global Primex launches VLoad for merchants plagued by chargebacks and fraud

Global Primex has launched its payment platform in partnership with New York-based Metropolitan Commercial Bank.

Going by the name of VLoad, the online payment method provides privacy and security to consumers and empowers merchants in the VLoad Merchant Network with increased revenue resulting from fraud prevention, dispute management, and acceptance rates, the firm explained.

The VLoad Merchant Network connects consumers to merchants who have successfully passed Global Primex’s merchant due diligence process, but have challenges accessing with traditional payment methods and/or need help managing their fraud and payment dispute risk.

The network offers low-cost access to an ecosystem of hundreds of thousands of consumers whose identities have been verified and whose collective fraud rate is a mere fraction of the market average, the firm announced.

Network participants are provided with instant access to their customers’ full purchasing power in one place.

VLoad for high-risk merchants plagued by chargebacks, low acceptance rates, and fraud

Global Primex is a privacy-first payments company specializing in secure digital payment solutions and, with VLoad, it is targeting traditionally high-risk merchants plagued by excessive chargebacks, low acceptance rates, and fraud. These include regulated online gaming operators, subscription billing services, entertainment, and the travel industry in the United States.

Marek Sala, CEO of Global Primex, said: “Global Primex was founded on the premise of creating anti-fraud solutions for online merchants suffering from excessive chargebacks and low acceptance rates, and for providing consumers with a best-in-class private and secure online payment method.

“With VLoad, merchants are protected under Global Primex’s PCI DSS Level 1 certified payments platform, benefitting from early fraud detection and dispute resolution, while customers’ identities and data are kept private from third parties. VLoad brings tremendous value in industries such as online gaming where we can bring consumers and merchants together in an environment where the risk of fraud on either side of a transaction is significantly diminished.”

Nick Rosenberg, Executive Vice President, Head of Global Payments Group at Metropolitan Commercial Bank, said: “Our partnership with Global Primex is a natural fit given our shared vision around digital transformation of the payments space. We look forward to introducing a product that will provide both sides of a purchase with a strong sense of security through VLoad transactions.”