There’s a dizzying array of solutions out there that that prevent and resolve transaction disputes in the merchant’s favor. Oftentimes, one suite of services overlaps with others, and merchants end up overpaying. Using our business relationships and economies of scale, ChargebackHelp can sift through these services to deliver comprehensive coverage with significant savings.
INTRODUCING ENHANCED DESCRIPTORS
Transaction descriptors on cardholder statements have notoriously failed merchants by providing insufficient information on transactions, confusing cardholders, and causing excessive chargebacks. Consequently, there are some great solutions out there that deliver in-depth information on each transaction in addition to the descriptor. The problem is that those solution providers have to negotiate with each cardholder bank to implement their product.
The top providers of enhanced descriptors are Verifi (Order Insight) and Ethoca (Eliminator). Verifi works mostly with American banks while Ethoca works with Canadian, European and other international markets. However, there is considerable overlap which means merchants will overpay for covering those markets. Due to our relationship with both companies, ChargebackHelp can integrate both services to save our clients from getting over-billed.
Enhanced descriptor solutions API into the cardholder’s online credit card statement, allowing cardholders to drill down into each transaction and get more information on merchant, product, delivery status, etc. They receive all the information they need to recognize a transaction or to query the merchant directly about any issues with a purchase. When a cardholder doesn’t recognize a descriptor, they can find out more and get contact information on the merchant from their online statement.
Enhanced descriptors also provide this information to the issuing bank to “talk off” chargebacks proactively. It provides order history associated with the cardholder by account, device, and geo location. If a merchant has a compelling claim for that transaction revenue, that information is provided to the cardholder bank in realtime. This can drastically reduce the number of chargebacks caused by friendly fraud and confusing descriptors.
ONE GOAL MANY WEAPONS
Fraud is on the rise, particularly in the online space. With its rise comes chargebacks, which drain revenue and even terminate your processing. ChargebackHelp deploys each and every tool that is effective against this threat. At ChargebackHelp, our goal is to maximize revenue and minimize processing costs and friction. Verifi Order Insight and Ethoca Eliminator are just some of the solutions we provide to that end. And we can integrate them without the hassles of overlapping costs and dealing with multiple providers. Find out more about this and the entire CBH Plus suite of services. Drop us a chat down on the right, shoot us an email, or go old-school and call us 1.800.975.9905