Resolve Disputes, Stop Chargebacks and Boost Profits in Australia

Order Insight^TM for Merchants

Improve Your Sales and Eliminate Chargebacks

PREVENT CHARGEBACKS Increase Profits

Order Insight for Merchants

Stop Fraud and Chargebacks and Increase Your Profits

We all know chargebacks are a complicated and costly problem. Some of the frustrations of this process are:

The chargeback process is currently inefficient
The large majority of cardholders will bypass the merchant and call their bank first when questioning a charge on their bill
The banks have limited information at their fingertips to validate the sale

Without the purchase details needed to legitimise the transaction, issuers cannot easily discern first-party/“friendly” fraud from true fraud. Additionally, some cardholders have learned how to capitalise and manipulate the system and defraud merchants of their hard earned sales and profits, leaving the issuers typically with one option, to file a chargeback.

Current inefficiencies in process leads to a number of expensive problems

Loss of sales, goods and services
Unhappy customers/negative brand association
Increased fees, fines, penalties; risk of losing processing privileges

Higher operational and downstream representment costs
Avoidable chargeback volume

The Right Information. To the Right Parties. At the Right Time.

Order Insight is a patent-pending platform that connects cardholders, merchants and issuers to resolve billing confusion and disputes in near real-time. Merchant CRM and enhanced order details are made available to the cardholder through the bank-enabled mobile/online banking platform. If a consumer elects to contact the issuing bank, their call centre or back office personnel will have access to the same order details and compelling evidence. This way, they can quickly resolve confusion, validate the sale, or flag as true or first-party fraud so merchants can retain sales and avoid losses to unwarranted chargebacks.

Order Insight for Merchants

How Order Insight Works

Order Insight is an end-to-end chargeback solution that empowers issuer personnel with unique cardholder transaction details in real-time, so that all parties can better recognise, remember and validate the sale. When a cardholder disputes a charge, Order Insight shares your direct contact details with the issuer and cardholder, a descriptive transaction history that includes product/service description, merchant name, and device name. With the issuer-hosted mobile interface, this detailed transaction information is readily available to the consumer, immediately providing answers to their questions.

If a consumer elects to contact the issuer, their call centre or back office personnel will have access to the same order details to quickly resolve confusion and either validate the sale or flag it as true or first-party fraud, so you can retain sales and avoid losses to unwarranted chargebacks.

Merchant Wins

The Right Information

Provides comprehensive transaction details such as merchant names, product features, purchase history or device name to validate the sale:

• Eliminate unwarranted chargebacks
• Confirm buying decision and reduce billing confusion
• Identify fraud and stop first-party/ “friendly” fraud

To The Right Parties

Shared feedback loop between merchant, cardholder and issuer allows for better customer experience and ongoing process improvement:

• Cardholder self-service or first-call dispute resolution
• Reinforce brand image
• Preserve customer loyalty and retention
• Insight to improve order processes/operations

At The Right Time

Data sharing in near real-time between all parties helps resolve disputes at the time they occur and head off issues downstream that drain your bottom line:

• Retain your sales revenue
• Proactive representment–compelling evidence details reduce disputes and eliminate resource drain to recover legitimate sales
• Lower operational expenses & increase profits

Order Insight In Action

Robust Transaction Details Shared Through Order Insight

Order Insight delivers merchant CRM and robust order details directly to the cardholder through the issuer-hosted mobile interface and online banking platform to help validate the sale and improve customer experience.

For inquires that do arise, the issuer’s call centre or back office personnel will have access to the same order details and compelling evidence. They can either immediately validate the sale or flag it as true or first-party fraud, so you can retain sales and avoid losses to unwarranted chargebacks.

Product/Service: Name of the product or service purchased and other product details including size, colour, and quantity.

Use Case: Clarify descriptors & validate the sale

Example: The order was for a blue, ‘Sunshine’ summer dress, size 8.

Merchant: Name, address, merchant phone number and email address; plus relevant links, including terms and conditions, warranty information and return policies.

Use Case: Identify merchant & increase first call resolution

Example: The purchase was made at ‘Petite Trends’ online store at www.pt.com.au.

Transaction and dispute history:
Cardholder activity including disputes filed, refunds issued, account delinquency.

Use Case: Understand cardholder purchase history and identify repeat fraud offenders

Example: This purchase was made on 15/02/17, and it appears that this has been an active customer for the past 24 months.

Device name:
Device type and name and the details of the device used to make the purchase (smartphone, tablet, laptop, etc.).

Use Case: Connect the cardholder to the device

Example: The purchase was made on a mobile device named ‘Jane’s Xphone’.

Unique cardholder information:
Name, username, IP address, location, phone number, and email address included in the merchant’s customer profile.

Use Case: Match unique cardholder information with information in bank’s system

Example: The purchase was made on 17/05/16 using the email account [email protected], which matches the records in our system.

Reduce Dispute Volume, First-Party Fraud and Chargebacks

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Let us show you how the world’s top e-commerce merchants are improving sales, reducing first-party/“friendly” fraud and eliminating chargebacks

Resources

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Verifi works with global financial institutions and merchants to deliver best-in-class chargeback prevention solutions.

Understanding the Broken Chargeback Process 86% of cardholders bypass the merchant and contact the issuer directly. In addition, most disputes are intentional “buyer-liar” fraud — which accounts for 25-40% of an online merchant’s total chargeback volume. Unfortunately, the issuer doesn’t have the critical transaction details needed to substantiate the legitimacy of the sale on the first call, and cannot determine:

True fraud or “friendly fraud”
Buyer’s remorse
Defective service

A legitimate refund issue
A simple case of descriptor confusion

The issuer is left with few options; since they can’t legitimise the transaction, they are forced to either start the dispute process or flag the transaction as fraud. This kicks off an expensive and convoluted process that costs merchants up to $16 Billion annually in:

Fees, penalties, and lost profits
Potential loss of processing rights
Increased operational costs

Increased fraud and chargebacks
Lost customers

There are other hidden costs that are not so easy to represent on the balance sheet, including:

Increased disputes
More “friendly fraud”
Risk of losing processing privileges
Double refunding
Stalled cash flow

Lost merchandise or digital services
Excessive representment costs
Negative brand associations
Zero opportunities to resolve the dispute
Resolve disputes quickly with a refund or a replacement

Order Insight^TM for Merchants

Improve Your Sales and Eliminate Chargebacks

Order Insight for Merchants

Stop Fraud and Chargebacks and Increase Your Profits

Current inefficiencies in process leads to a number of expensive problems

The Right Information. To the Right Parties. At the Right Time.