Merchants needing to augment internal staff and resources can choose to work with a third party vendor to reduce chargebacks. Some providers offer simple chargeback notifications to alert merchants to possible disputes. Other companies, such as Verifi, actually stop the dispute before it becomes a chargeback and allow the merchant to resolve the dispute directly. Merchants should opt to use solutions that directly integrate with top issuers to ensure that the data driving these chargeback notifications are highly accurate.
Need Chargeback Help?
If you believe you are suffering from a larger than average number of first-party fraudulent orders or chargebacks per month, then yes, you probably need help. Regardless of industry, no company can afford to lose revenue and there are programmes available to help you recover that revenue efficiently.
When you take a proactive approach to reducing retrievals and chargebacks, you will have a significant lead over your competitor peers.
Some Strategies for Chargeback Assistance
- If you manage chargebacks internally, equip your fraud and chargeback analyst with the tools they need to do their job.
- If you use a third party for chargeback help, Verifi offers total payment protection programmes that handle chargebacks from beginning to end.
- If you use a combination of in-house and third party chargeback help: Some companies manage their easy chargeback cases in-house and then rely on Verifi to manage the remainder.
No matter what, while it is impossible to prevent chargebacks completely, a proactive chargeback prevention strategy can help you minimise revenue loss. For more information, contact Verifi.