The best chargeback guarantee is a rock solid dispute resolution process.
From the eBook you will learn about the most common reasons why chargebacks occur, the different types of friendly fraud that may be affecting your business, how to build an effective dispute case (with a template that you can use!), as well as examples of successful disputes.
Whether we like it or not, in the world of online transactions we have to face chargeback disputes sooner or later. And the best way to deal with them is to prepare for them in advance, by having the proper procedures in place to handle fraudulent transactions (while maintaining a low false positive rejection rate), as well as to win disputes by telling your side of the story through data, in the language that the issuer bank understands.
Even if it seems daunting at first, especially with the non-standardized reason codes that are provided, once you build up the necessary knowledge and business processes in-house, you will be able to confidently challenge – and win – chargeback disputes, even if the odds seem stacked against you.
This is essential to keep your profit margins healthy and your chargeback rate within the acceptable limits – or to put it another way, investing in the process will save you money in the long run, but not investing in it may end up breaking your business, especially in highly volatile times or if you operate in a high risk industry.
Why fraud prevention and chargeback disputes go hand in hand
Even if you have a state of the art fraud prevention tool that screens fraudulent transaction attempts, you will face the nasty problem of friendly fraud. These transactions look risk free initially and only turn sour maybe months later. That’s when your dispute case building process comes in handy, as if you can prove to the issuer bank that according to your data, the cardholder had no problem with the purchase, then you have a chance of winning the dispute. Rather than shy away from the problem, look at this as a part of your fraud prevention efforts, one that operates not necessarily on the front lines but one that is just as vital to your business.
Think of it as your back line, a process or a responsible person who uses your primary risk and customer service data, who can quickly tell which dispute falls under what category, speaks the language of the bank (both in terms of resolution codes and communication) and has their own tools and methods on winning disputes.
If this seems daunting, worry not: our guide will give you a quick overview of the problem so you have a better understanding of what needs to be done, allowing you to develop such a process and start winning more dispute cases.
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