- Increasing Sales Conversion Through Issuer Alerts
A white paper discussing the use of Issuer Alerts and the opportunity to reduce chargebacks post-transaction, which can lessen the need for upfront risk screening and allow higher levels of conversion.
This white paper is SPONSORED by:
Through its partnerships with top Issuing Banks, Verifi’s award winning Chargeback Dispute Resolution Network (CDRN) receives dispute notifications in real time and helps resolve disputes before they become a chargeback. Merchants can start preventing chargebacks within minutes with our integration free, portal based solution or have our experts manage the entire process.
Offering a neutral, unbiased, source for information related to setting up and maintaining solutions for online payments and fraud prevention.
Increasing Sales Conversion Through Issuer Alerts
Effective risk management leaders and strategies seek to find balance between sales conversion and fraud prevention. It is understood that there is a trade-off with being overly strict to prevent fraud as this tends to negatively impact sales. Conversely, being very lenient and encouraging high sales conversion can lead to increased levels of missed fraud and higher chargeback rates. While most risk management tools and techniques occur before and during the point of transaction, this white paper focuses on Issuer Alerts as a means of reducing chargebacks post-transaction, potentially freeing up ways for organizations to focus more on sales conversion.
- Type: Prepared Research, White Paper, Discussion Document
- Presented By: David Montague, The Fraud Practice
- Length: 12 pages
- Last Update: December, 2014
- Cost: Free
what to expect
The Increasing Sales Conversion Through Issuer Alerts white paper discusses Issuer Alerts in the context of how it is used to reduce chargeback rates and how this can enable merchants and other organizations to continue or increase efforts intended to drive more sales. The intent of this white paper is to define and explain the key concepts and considerations for building this business case.
Issuer Alerts provide notification of transactions where the issuer intends to file a chargeback on behalf of the consumer. For these orders, the Issuer Alert provides organizations an opportunity to proactively respond and prevent a chargeback from occurring. This enables merchants to reduce the number of fraud and non-fraud related chargebacks, effectively lowering their chargeback rate while making no changes to the risk screening performed upfront. In doing so, the merchant can then weigh decisions on whether or not to be more lenient and let more orders flow, knowing that many of the chargebacks can later be avoided by proactively responding to Issuer Alerts.
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The Issuer Alerts Technique Data Sheet and course lesson provide a strong overview of how credit card issuer alerts work as well as the vendor market and service offerings available to merchants and issuers. The course and data sheet are an essential resource for merchants and issuers that are considering credit card issuer alert services. They are also a great professional development asset for risk and fraud professionals in the merchant and issuer space that are looking to stay current on methods and techniques for managing fraud and conversion in the CNP channels.
Issuer Alerts are a form of data sharing between participating issuers and merchants where merchants receive notifications on transactions or disputes that the Issuer is about to process into a chargeback providing the opportunity for merchants to resolve the problem or refund the transaction and prevent a chargeback from occurring.
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