Product

Dispute and Chargeback Management

Stop chargebacks, save sales and reduce future fraud

Product Overview

The tremendous growth in online consumerism has created several positive effects for merchants; increase in sales, access to new markets and new customers. It has also meant significant increases in disputes and chargebacks.

Many merchants are not equipped to support this significant increase in activity, having to manually review each one-by-one. They face cripping delays and costs, impacting their financial performance, cash flow, inventory and relationship with their acquiring bank.

Equifax, powered by Kount solutions, can help prevent revenue loss from criminal and friendly fraud, and enable you to automatically respond to and manage chargebacks efficiently and effectively.

Take control of your financial performance:

Reduce chargebacks immediately

Resolve disputes as soon as your customers contact their issuing banks, be able to stop inventory loss and issue refunds quickly.

Reduce operational costs

From one dashboard you can be alerted to, and resolve disputes, as soon as they occur, significantly reducing the need for manual review.

Save the sale

Relay transaction data quickly that can help your customers recognise legitimate purchases and reduce potential chargebacks or refunds.

Improve your future fraud policies

Mitigate ahead of time to prevent from future fraud, using data and insights gathered from your transactions.

Pay only when your disputes are unsuccessful

Don't suffer twice from a lost sale and dispute chargeback fee.

Deflect disputes from accidental and intentional friendly fraud

Friendly fraud or first-party fraud can be accidental, intentional or an unfortunate result of merchant error can result in serious financial losses. For merchants needing to manage cash flow and reduce financial risk, unpredictable fraud events or even a significant rise in chargebacks, can result in serious financial losses.

Being able to have control over revenue generation and risk is vital - and should be a tailored, personalised choice for every single business.

Partnered with Kount Command, merchants can gain valuable insight into which customers may be committing friendly fraud intentionally. By revealing the gaps in business policies that make it easy for bad actors to commit refund fraud or promo abuse, merchants can then take decisive action to adjust their fraud policy and reduce future fraudulent activities.

Merchants get to keep the revenue from their purchase and avoid friendly fraud chargebacks and fees, and in doing so hopefully ensure a positive brand experience for their customer too.

Optimise your online buyers experience

The same customer experience applied to the pre-authorisation experience should also apply to post-authorisation payment stages, when customers challenge a transaction or request a refund. Consumers are quick to abandon brands or services where they have had a bad buying experience or poor customer service.

Dispute and Chargeback Management provides merchants with the ability to communicate with their customers directly regarding a purchase, sharing the transaction details, or where necessary offering a refund quickly. This ensures customers feel satisfied and lessens the likelihood of them requesting a chargeback.

Simplify your dispute and chargeback management

Dispute and Chargeback Management is a comprehensive pre-authorisation solution that fully integrates with Verifi, a Visa Solution and Ethoca. Through Verifi, you can intercept disputes and stop chargebacks from Visa payments and save the sale, with no development or complex integrations necessary. You can also apply auto-decisioning to resolve Visa disputes from friendly and criminal fraud, and customise your refund policies. By having automated refund policies you can optimise your customer experience and save manual review time, whilst preventing dispute-filing errors.

Via integration with Ethoca, you gain access to additional details such as merchant names, logos, purchase locations and itemised digital receipts, to cardholders and banks. Relaying more details about a transaction can help eliminate transaction confusion, and with Ethoca alerts it can help you intercept and deflect disputes from criminal and friend fraud, post-authorisation and pre-chargeback.

Dispute and Chargeback Management also works with various marketplaces such as Magento, Salesforce and Shopify and others, working from one dashboard and integrated with your existing tools. You can be active in hours with real time support to manage your disputes and chargebacks.

A real life example of reducing chargebacks

"A virtual private network found themselves experiencing a significant rise in chargebacks, that was negatively impacting sales. They required a solution that would seamlessly integrate with their system and provide results quickly. They saw dramatic results post implementation: a 65% reduction in chargebacks with no slowdown in sales, elimination of more than 25,000 manual reviews annually and a significant reduction in operational expenses and impact."

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