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Issuer Frustration: Understanding the Inefficiencies in the Chargeback Process
The Issuer’s challenge when the cardholder calls to question or dispute a charge, is that 86% of time, the cardholder bypasses the merchant in favour of your call centre to dispute or question a charge.
The lack of information about the transaction and inability to access compelling evidence that would legitimise the sale, provides your call centre with the challenge of knowing whether the inquiry is:
- Friendly fraud
- Buyer’s remorse
- Defective service/product
- A disagreement with refund policies
- Simple cardholder confusion over vague descriptor
Simply put, your call centre is inundated with inquiries it cannot resolve on the first call. As an unintentional mediator, issuers are forced to absorb huge operational costs as more and more cardholder disputes move into the chargeback process.
So our question is: “Why are you fighting the merchant’s battles and why is it costing you so much?”
Without access to the compelling evidence locked in the merchant’s systems, it is virtually impossible to legitimise the sale or flag potential fraud on the first call. Lacking actionable compelling evidence on-demand, the issuer cannot determine if the disputed transaction is:
- Buyer’s remorse
- Defective service
- A legitimate refund issue
- A simple case of descriptor confusion
This results in a gap in the cardholder dispute process that inflates issuers operational expenses with:
- Increased dispute volume
- Unmanageable pend queues
- Customer dissatisfaction and negative brand association
- Regulatory/compliance risks
- Increased downstream representment volume
- Time-consuming arbitration
- Increased small-balance write-offs
Order Insight fixes the inefficient chargeback process.