Managing Fraud and Chargebacks
At BlueSnap, we pre-integrate industry leading fraud, chargeback management and dispute notifications solutions into our Platform. Our Platform is fully configurable to the specific needs of each business, to help them securely increase sales and reduce costs.
There are a lot of malicious activities aimed at online businesses - nearly 77%of businesses have reported that their company has been victim of some type of fraud, like stolen or counterfeit cards, or chargeback fraud. But, getting fraud settings wrong can be costly. Allow too many fraudulent transactions, and the business loses money. But blocking legitimate customers from making a purchase means lost sales. Some payment providers have proprietary fraud tools, and set the rules themselves so the business is at the mercy of those thresholds. With fraud management, one size does not fit all - a businesses fraud rules need to be customized to account for things like the products they sell, where their customers are located and the purchase velocity. For example, businesses with cross-border customers need a fraud solution that can take into account the patter of shoppers in a given reasons. For example, markets where using an internet cafe is commonplace.
But it isn't about all about stopping fraudulent transactions, businesses must also be vigilant for friendly-fraud - where a customer makes a legitimate online purchase, and then disputes the charge. Friendly-fraud is estimated to account for up to 80% of all fraud losses and is very difficult to distinguish from criminal fraud or legitimate disputes.
BlueSnap gives businesses a better way to protect sales and reduce friendly-fraud. Our All-in-One Payment Platform comes with award-winning fraud and chargeback management built-in. We've pre-integrated to Kount, Verifi, Ethoca and Chargebacks911 to our Platform, so businesses get a suite of industry-leading solutions with no extra effort. Kount's sophisticated AI-driven solution, gives businesses the power to customize their fraud rules to match the needs of their business, recognizing stopped devices that have been used in previous fraudulent activities through patented device fingerprinting, and distinguish between criminal fraud, friendly-fraud and legitimate disputes.
With Ethoca and Verifi, BlueSnap incorporates proactive alerts for lost or stolen cards and notifications of reported disputes, to allow businesses to act before a chargeback occurs. And if there is a chargeback, businesses can choose a full-service option, which allows them to set parameters and automatically dispute chargebacks, or manage the process themselves using BlueSnap's case-management tools.
With BlueSnap, businesses have a powerful fraud-prevention solution to help them protect their sales and grow their business.
Want to learn more about how BlueSnap gives businesses the data they need to optimize their payments? Check out our video on Reporting and Reconciliation: https://go.bluesnap.com/reporting-and...
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