Verifi UK

Resolve Disputes, Stop Chargebacks and Boost Profits

Order Insight for Issuers

Lower Operational Expenses and Improve the Cardholder Experience

Order Insight for Issuers Stop Chargebacks Resolve Cardholder Inquiries.

Order Insight for Issuers

Resolve Cardholder Inquiries Quickly and Reduce Dispute Volume

The chargeback process is currently inefficient. Cardholder disputes can start anywhere; with a phone call, online or via email. Regardless of the source and nature of the dispute, up to 86% of cardholder disputes will result in bypassing the merchant by  originating a dispute with the issuing bank. Faced with a flood of disputes, inquiries and lacking key transaction details to legitimise the transaction, the issuer’s only option is to file a chargeback. There are many frustrating examples of the current chargeback process:

  1. The issuers current inability to clearly discern first-party/“friendly” fraud from fraud
  2. Customer confusion over vague merchant billing descriptors
  3. Unethical cardholders seeking to capitalise on these opportunities

All these examples provide both an immediate and long term impact to the issuers’ bottom line.

Current inefficiencies in process leads to a number of expensive problems and operational costs:

  • Loss of revenue
  • Increased costs and representment volume
  • Increased small-balance write-offs
  • Customer dissatisfaction/Negative Brand Association
  • Unmanageable pend queues and lower productivity
  • Increased dispute volume/Inability to handle disputes on first call

The Right Information. To The Right Parties. At The Right Time.

Order Insight is a proprietary patent-pending platform that connects cardholders, merchants and issuers in real-time to resolve billing confusion and decrease dispute volume, providing a better customer experience. Merchant CRM and enhanced order details are made available to the cardholder through the issuer-hosted mobile/online banking platform. If a consumer elects to contact the issuing bank, their call centre or back office personnel will have access to the same order details and compelling evidence. This way, they can quickly resolve confusion, validate the sale, or flag it as true or first-party fraud, retaining sales and avoiding losses to unwarranted chargebacks for the merchant.

Order Insight Solution

How Order Insight Works

Reduce Dispute Volume and Improve Cardholder Experience

Order Insight is a single end-to-end solution for your resolution needs, providing consumers with robust transaction details—product/service description, merchant name, and device name—directly through your issuer-hosted mobile interface and online banking channels. This resolves the dispute at the customer level and eliminates the need for customers to call into your call centre, improving the customer experience and reducing unnecessary operational expenses.

For inquires that do arise, your call centre or back office personnel will have access to the same order details and compelling evidence. This way, they can quickly resolve confusions, validate the sale, or flag it as true or first-party fraud to help retain sales and avoid losses to unwarranted chargebacks for the merchant.

Key Benefits for Issuers

Validate the Sale
Legitimise the transaction and decrease dispute volume

Lower Call Centre Costs
Cardholder's self-service online banking or mobile app reduces dispute volume

First Call Resolution
Empowers call centre staff for faster dispute handling and happier customers

Decrease Operational Costs
Chargeback, pend-queue and arbitration inventory reduced

Identify fraud and First-Party/"Friendly" Fraud
Avoid flagging legitimate sales as fraudulent

Final Case Resolution
Unresolved disputes are closed with cardholder credit, avoiding representment downstream

Added bonus descriptor intelligenceADDED BONUS – Descriptor Exchange, exclusively with Order Insight

Issuers get access to the descriptors for up to 70% of merchants:

  • Includes information such as merchant name, address, customer service phone number for any Merchant, not just merchants enabled with Order Insight
  • Reduce time-consuming research and lower operational expenses

Order Insight In Action

Order Insight delivers order details directly to the cardholder through the issuers’ mobile application/online banking channels and call centre staff to validate the sale, facilitate faster resolution and improve customer experience. For call centre inquiries that arise, issuers are equipped with the compelling evidence they need to flag unethical cardholders looking to manipulate and capitalise upon the system, or resolve the confusion created by vague descriptors before they spiral into costly chargebacks and impact the issuers’ bottom line.

1

Product/Service: Name of the product or service purchased and other product details including size, colour, and quantity.

Use Case: Clarify descriptors & validate the sale

Example: The order was for a blue, ‘Sunshine’ summer dress, size 8.

2

Merchant: Name, address, customer service phone number and email address; plus relevant links, including terms and conditions, warranty information and return policies.

Use Case: Identify merchant & increase first call resolution

Example: The purchase was made at ‘Petite Trends’ online store at www.pt.co.uk.

3

Transaction and dispute history:
Cardholder activity including disputes files, refunds issued, account delinquency.

Use Case: Understand cardholder purchase history and identify repeat fraud offenders

Example: This purchase was made on 15/02/17, and it appears that this has been an active customer for the past 24 months.

4

Device name:
Device type and name and the details of the device used to make the purchase (smartphone, tablet, laptop, etc.).

Use Case: Connect the cardholder to the device

Example: The purchase was made on a mobile device named ‘Jane’s Xphone’.

5

Unique cardholder information:
Name, username, IP address, location, phone number, and email address included in the merchant’s customer profile.

Use Case: Match unique cardholder information with information in bank’s system

Example: The purchase was made on 17/05/16 using the email account Jane123@gmail.com, which matches the records in our system.

Pricing Information

Get in touch today and schedule an executive briefing

Let us show you how the world’s top issuing banks are delivering transaction details to cardholders and call centre staff thereby reducing cardholder confusion, lowering operational costs and enhancing the cardholder experience

Resources

Learn more about other Verifi products and reduce your chargeback volume and decrease operational expenses.

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CDRN for Issuers
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CDRN for Merchants
Stop chargebacks

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Order Insight for Merchants
Deflect disputes quickly

Issuer Frustration: Understanding the Inefficiencies in the Chargeback Process

The Issuer’s challenge when the cardholder calls to question or dispute a charge, is that 86% of time, the cardholder bypasses the merchant in favour of your call centre to dispute or question a charge.

The lack of information about the transaction and inability to access compelling evidence that would legitimise the sale, provides your call centre with the challenge of knowing whether the inquiry is:

  • Fraud
  • Friendly fraud
  • Buyer’s remorse
  • Defective service/product
  • A disagreement with refund policies
  • Simple cardholder confusion over vague descriptor

Simply put, your call centre is inundated with inquiries it cannot resolve on the first call. As an unintentional mediator, issuers are forced to absorb huge operational costs as more and more cardholder disputes move into the chargeback process.

So our question is: “Why are you fighting the merchant’s battles and why is it costing you so much?”

Without access to the compelling evidence locked in the merchant’s systems, it is virtually impossible to legitimise the sale or flag potential fraud on the first call. Lacking actionable compelling evidence on-demand, the issuer cannot determine if the disputed transaction is:

  • Buyer’s remorse
  • Defective service
  • A legitimate refund issue
  • A simple case of descriptor confusion

This results in a gap in the cardholder dispute process that inflates issuers operational expenses with:

  • Increased dispute volume
  • Unmanageable pend queues
  • Customer dissatisfaction and negative brand association
  • Regulatory/compliance risks
  • Increased downstream representment volume
  • Time-consuming arbitration
  • Increased small-balance write-offs

Order Insight fixes the inefficient chargeback process.

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