When it comes to Reputation Management, most merchants are primarily concerned with their reputation with customers and how they deliver goods and services. While that’s certainly an important facet of “rep management”, it’s not the only one. Here, we’re looking at your processing reputation–not just how banks see you based on your transactions, but also how fraudsters see you as a target. Having a reputation for fighting fraud and chargebacks can make a difference in how much fraud or chargebacks you see.
Your processing reputation is relatively easy, compared to dealing with you brand’s reputation. You don’t have to chase down and respond to trolls online. You just need to have a chargeback management strategy.
Banks take notice when you push back against friendly fraud. When a cardholder disputes a charge that falls within the bank’s friendly fraud reason codes, both the issuing and acquiring banks look at your history in managing those disputes. If you never fight back, they will green light disputes into chargebacks every time. If they see a history of successful representment, they’ll exert more scrutiny on the cardholder claims, which can reduce the amount of chargebacks that get through.
Banks like merchants with a proactive and robust fraud prevention regimen. On the other hand, fraudsters hate it. They too take notice if you you’re not challenging their attempts to pass stolen credit card data. With fraud safeguards in place, fraudsters will see more declines and less success, then they’ll move on. Without those safeguards, the fraudsters will come back again and again to push their transactions through. Word gets around and it behooves you show fraudsters you you are not a soft target.
ChargebackHelp manages your chargebacks, but we also manage your reputation with the banks as a result. Our high rate of success with representment can keep frivolous disputes in check that can otherwise pile up on merchants. Give us a call to find out how or chargeback management services can help improve your reputation with the banks to safeguard your revenue stream.