Improve Win Rates & Reduce Loss with Chargeback Management

Improve Win Rates And Reduce Financial Loss With Chargeback Management

Chargebacks, whether legitimate or fraudulent, are the bane of merchants. Not only do lost disputes hit company profit, they can also cost double that amount in direct and indirect expenses. An Accertify-commissioned study by Javelin Strategy showed that for every $30 in chargebacks, merchants lose $32 in wasted labor, $27 in chargeback fees, and $12 in dispute resolution fees. So, even when you win a case, the labor and resources required significantly eat into profits.

Accertify’s chargeback management platform employs comprehensive reporting, proprietary analytics and streamlined workflow to maximize clients’ win rates and minimize losses. Our chargeback management software is driven by our Interceptas platform that can operate standalone or in conjunction with Accertify’s fraud prevention suite. Either way, it reduces the resources required to manage and respond to chargebacks by as much as 50%*. For even more savings and greater dispute management success, consider our comprehensive managed services offering. The team is staffed by chargeback and fraud specialists who provide end-to-end oversight of incoming, queued, and in-process chargeback claims to help you meet your business goals.

*Results based on Accertify clients during the period Jan – October, 2020. Results not typical.

Our chargeback management platform focuses on three key and potentially costly areas of the chargeback process:

MINIMIZING DISPUTES

One of the best ways to manage chargebacks is to prevent them in the first place. Accertify can provide real-time account monitoring and fraud prevention as a key driver to reduce chargebacks. The chargeback management platform used in conjunction with a fraud prevention tool helps to decrease hostile fraud perpetrated by fraudsters against the merchant. However, this is not the only way Accertify can help you to minimize chargebacks.

Accertify can help when a customer begins an inquiry or a chargeback claim with their Issuer. Accertify provides pre-chargeback inquiries and chargeback alerts through its integration with Ethoca and/or Verifi (VMPI). These integrations provide sellers with the time and opportunity to resolve the issue before the chargeback is officially filed with the card network. For example, if the customer’s claim is valid, merchants can promptly issue a refund which pre-emptively stops the chargeback process.

The platform also allows the merchant to capture the actual reason for the dispute during the representment process. This data can then be analyzed to identify operational and policy-related actions that are causing chargebacks. This then allows the merchant to evaluate changes in these procedures and policies to proactively reduce chargebacks – for example, there may be a need for clearer terms & conditions during certain parts of the checkout process.

Maximizing Win Rates, Reducing Losses

At the heart of every chargeback management program is the goal of maximizing the chargeback win rate. This is the proportion of chargebacks recovered after they are filed. Accertify boosts this rate for clients in the following ways:

  • PREEMPTIVE RESOLUTION
  • REPRESENTMENT DECISIONS
  • DATA ANALYSIS
  1. PREEMPTIVE RESOLUTION
    The platform helps reduce the number of invalid claims that are elevated to chargeback status. By using these services and our Interceptas Case Management Platform, Accertify clients can present details about the purchase that deflects friendly fraud / buyer remorse chargebacks. They can also issue refunds proactively when the claim is valid. This preemptive resolution helps to reduce losses as the chargeback is never issued to the merchant.
  2. REPRESENTMENT DECISIONS
    Accertify’s decision engine tracks every disputed charge and allows merchants to respond to questionable chargeback claims with a minimum of effort and hassle. Accertify’s chargeback management software identifies response requirements based on reason code, card network, and banking partner, ensuring the merchant always provides the right type of evidence, which gives them the best chance to win the chargeback. This coupled with robust quality control mechanisms ensures a consistent response is sent to the bank. This sets the stage for clients to successfully challenge more chargebacks, preserve more revenue and bolster win rates.
  3. DATA ANALYSIS
    Accertify highlights actions that an organization’s chargeback management team takes when responding to chargebacks. Accertify’s chargeback management software tracks which types of support were provided, what items were accepted vs fought, as well as who interacted with the case to provide a comprehensive view of the representment process. This data can then be used to identify necessary changes in representment documentation and analyst behavior to help ensure maximum win rates by the merchant across all reason codes, card networks, and banking partners.

Automating Workflow, Driving Efficiency

Accertify’s chargeback management software provides the capability to auto-decision disputes based on monetary values, reason codes, respond-by dates, and much more. The solution guides the user to provide exactly what is needed to successfully represent the chargeback. When coupled with merchant order data from Accertify’s fraud platform or direct from the merchant, it can also make automatic workflow decisions and creates supporting documentation aligned to purchase, fulfillment, and compelling evidence requirements. As a result, Accertify clients realize optimized efficiency and save money by trimming time spent dealing with chargebacks by up to 50%* compared to industry standards.

Clients who require professionally managed chargeback responses so they can focus on their business objectives can benefit from another one of Accertify’ s offerings – Chargeback Managed Services. This eliminates the need for merchants to invest in the overhead, infrastructure, and manual resources required to effectively respond to disputed charges. Our Chargeback Managed Services team consists of a dedicated team of experienced chargeback and fraud experts that coordinate activities such as:

Responding to all payment-challengeable disputes prior to the deadline.

Uploading supporting evidence for disputes

Analyzing changes to chargeback card brand requirements

Delivering periodic, actionable reports that help inform clients’ fraud and chargeback prevention actions.

Consulting with each organization in the chargeback lifecycle to clarify chargeback requirements.

LEADING MERCHANTS HAVE REDUCED THEIR CHARGEBACKS BY UP TO 50%