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Accelerate growth by automating chargeback management


Responding quickly and accurately to customer disputes is particularly critical at a time when on-site commerce is shifting to online and mobile at a record rate. In an April 28, 2020, blog post titled “Visa leverages our network, partners and products to help businesses in the new normal,” Jack Forestell, chief product officer at Visa, observed that the coronavirus pandemic has impacted U.S. businesses of all sizes.

Forced to find new ways to conduct business, less than half (46%) of US small businesses report having any online presence at all,” Forestell wrote. “Even worse, 54% of small businesses in the US report they are closed or could close within the coming weeks in response to COVID-19.”

In these challenging times, with so much at stake, effective chargeback management can help businesses maintain healthy chargeback ratios and reduce ecommerce fraud without blocking legitimate customers.

Fast, accurate, accessible

In many cases, merchants can satisfy customers and keep more sales by responding quickly and accurately to incoming requests. Automated chargeback systems are a proven way to reduce chargebacks and improve the bottom line. Visa recommends the following best practices in Dispute Management Guidelines for Visa Merchants:

Keep accessible records

Provide additional information about the transaction, including actions taken, such as crediting returned merchandise.

Provide accurate details

Provide proof of a credit issued or action taken, including receipt details and dates. Providing appropriate information can help facilitate a re-presentment to the card issuer for payment.

Respond promptly

Respond promptly and within the proscribed time for each step in the dispute cycle. Timeliness is also essential when attempting to remedy a dispute.

Wain Swapp, CEO at VyaPay, LLC, pointed out that merchants spend an average of 30 minutes researching and responding to a chargeback alert. Automating the process not only saves time but has been shown to reduce chargebacks by up to 73 percent, he stated.

Why wait? Automate

Swapp additionally noted that VyaPay recently added a chargeback management module, VyaShield, to its payment facilitator technology suite. Automating chargeback management is just one example of how independent software vendors (ISVs) in partnership with payment facilitators, are helping businesses become lean, agile and efficient, he stated.

“VyaShield’s native support of Visa’s 3DSV2 will also reduce merchant’s chargeback exposure with the upcoming Visa liability shift that is about to take place in the industry,” Swapp said. “For those merchants who have experienced fraudulent charges or friendly fraud, this is a game changer in self-protection.”

Swapp went on to say that VyaPay and its numerous ISV partners are continually innovating to help business owners survive and thrive through the current pandemic and far into the future. In addition to its signature automatic boarding and instant funding, the VyaPay Payment Facilitator Platform has gained recent enhancements, which include split settlements, lower B2B customer interchange rates, and expanding array of seamless shopping cart and accounting software integrations, he added.

VyaPay, LLC is an authorized Payment Facilitator for major card brands such as Visa, Mastercard, American Express and Discover. Alternative payment types and international payment are also supported by the platform. 

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