Chargeback Prevention
Fight Fraud on All Fronts
Credit card fraud costs businesses and consumers in America billions of dollars every year. If you’re lucky, fraud is only a minor inconvenience. However, many merchants aren’t as fortunate, and have to close their doors after being bled dry by fraudsters and misinformed consumers.
Whether you’re facing “friendly” fraud or something more sinister, our partners have the tools and resources ready to help you fight the good fight. If you’re an honest merchant looking for an honest solution to chargebacks and credit card fraud, reach out to us and learn about our proven systems.
Cut Chargeback Fees
Chargeback fees usually range from $20 to $40 dollars depending on the situation, but don’t be fooled – a 2016 report conducted by LexisNexis found that for every dollar lost to fraud, a merchant is actually losing an average of $2.40 dollars in associated fees!
You can imagine how quickly lost revenue adds up at that rate.
If you follow best practices laid out by your processor, however, you can frequently minimize the actual chargeback fee levied by the bank. Our agents are ready to walk you through these best practices, and help you pay less when problems arise.
Deal with Chargebacks in Real Time
Many chargebacks are avoidable, but until recently most merchants didn’t have the system in place to avoid them. Our advanced solutions allow you to do so better than ever by granting:
1. Dispute resolution management at the point of chargeback
2. Fraud identification with an emphasis on “friendly” fraud
3. Operational insight to enhance your sales funnel
Don’t leave customers in limbo – address their cases immediately and you’ll save money and keep your ratio manageable.
Reduce Involuntary Churn
While not the same as a chargeback, customer churn is still something businesses dread because it means less profit and fewer customers.
One form of churn is more preventable than others, and we have solutions for reducing it. Specifically, involuntary churn occurs when a customer cancels a recurring payment on accident, and it’s usually because their credit card has simply expired.
This is more common than you may realize – accounting anywhere from 20 to 40% of all subscription cancellations.
Enjoy Chargeback Representment
Dealing with chargeback mitigation on your own can be stressful, simply because it’s time consuming and complicated. There are so many parties involved and various fees associated with the process, so it’s easy to get overwhelmed.
That’s where chargeback representment comes in. Our veteran payment consultants can help you make a case against the consumer’s claim, and save you money and energy in the long run.
Employ Chargeback Insurance
Unfortunately it’s not possible to insure against every form of chargeback. However, we provide chargeback insurance for legitimate scenarios when:
-Purchases are made with lost, stolen, or counterfeit credit cards
-Shipping addresses are changed post-purchase
-Signature or verification issues arise
Protecting businesses from fraud and consumer error is something we strive for every day.