New Case Study: A U.S. Issuer’s Experience with Visa’s IDX Solution

New Case Study: Visa’s IDX Solution

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When it comes to managing chargebacks, layering is the way to go

Chargebacks and layering

Nothing gives a merchant the post-holiday blues quite like chargebacks. Consumers can dispute potentially fraudulent or unauthorized charges on their credit cards any time of year, but you will likely notice a higher volume of chargebacks during the busy holiday shopping season.

In addition to loss of revenue, the greatest pain point of chargebacks is the damage they can cause to a merchant’s credit reputation. Too many chargebacks send red flags to financial institutions—not a good way to start the New Year.

As a global leader in authenticating digital transactions, Cardinal believes in a multi-layered approach to fighting fraud. With multiple tools available, you can reduce fraud while increasing authorizations. Here are a few suggestions:

  • Use Cardinal for authentication before. Make this your first step in reducing chargebacks.
  • Partner with Verifi, another Visa solution, using your existing Cardinal integration. Verifi’s Order Insight solution gives you the tools and order details to refresh the consumer’s memory when they don’t recall a charge and want to report it as fraud. With Order Insight’s enhanced order and merchant information, you can be better prepared to prevent or resolve disputes in near real-time.
  • Consult with CyberSource, another Visa solution, to see if its Decision Manager fraud solution is a good fit for your business. You can use this tool for automated fraud screening to help maximize sales while reducing fraud and controlling operational costs.

In addition to using these tools to avoid or quickly resolve chargebacks, it pays to follow trusted methods for reducing disputes and maintaining a solid reputation. First, provide great customer service. If you offer quick refunds and clear up disputes in a timely fashion, your consumers are less likely to share negative reviews with fellow consumers. Even in the digital world, a personable approach is the key to success.

Second, provide clear refund policies, which can greatly reduce chargebacks. When you are upfront about returns and exchanges, you avoid potential disputes.

Finally, use reputable shipping services. It’s important to take responsibility for every aspect of the sale. That includes delivery of merchandise. Work with a shipping company you trust and keep track of merchandise as it makes its way to the consumer.