The way the current chargeback process works is broken. Issuers and merchants need a method to bridge the communication gap. If each party has access to comprehensive data about a disputed transaction, then better decisions can be made up front to prevent a chargeback filing.
In the evolving payments ecosystem, now with mobile payments, card-not-present transactions, online sales, virtual terminals, and EMV chip card technology, more opportunities have arisen to exploit vulnerabilities and defraud the system. Merchants, issuers, and consumers must have an open line of communication to respond to possible fraud. This is the way business should be done.
Take advantage of the tools available to you that enable you to work in an ongoing partnership with banks to protect your business interests, while ensuring that your customers are better educated and protected.
This guide provides insight on how collaboration make business better and easier for merchants and issuers. Take the action you need to make your business more cost effective, efficient, and healthier. You don’t have to accept that chargebacks must remain a fixed element in your business, which damage your profits and drain your vital resources. Learn how taking advantage of this advanced technology will help keep your business thriving and growing.