Reducing chargebacks can save you time, money and inventory. However, it is easier said than done! Maintaining an acceptable chargeback ratio to keep your business in good standing with card brands, and out of fraud monitoring programs, can be a difficult and tedious task.
If you are experiencing issues with chargebacks due to criminal fraud, friendly fraud and/or legitimate disputes, then it is time to seek the help of experts! Explodely has over 30 years of combined experience in this industry and we have used that knowledge to build proprietary chargeback and fraud prevention tools, which have been proven to reduce chargeback rates by up to 80%.
Reducing pre-authorization chargebacks means reducing criminal fraud. It’s a necessary first step to isolate and address post-authorization fraud, including friendly fraud, and legitimate disputes. Explodely reduces pre-authorization chargebacks via a specialized fraud detection solution that includes the following tools and functions:
The best way to eliminate post-authorization chargebacks is to use a dispute and chargeback management solution that can help you identify friendly fraud and resolve legitimate disputes. Explodely uses the following tools to prevent friendly fraud:
Customers may initiate legitimate disputes for many reasons. Maybe they did not receive what they ordered, could not easily return a purchase for a refund, or had a bad experience with your customer support team. Explodely reduces legitimate disputes by adopting business policies and practices that include:
Our AI links identity trust data by using unsupervised and supervised machine learning to analyze billions of fraud and trust-related identity signals, and to deliver accurate identity trust decisions within milliseconds. It simulates an experienced fraud analyst by weighing the risk of fraud against the value of the customer, but much faster and with the ability to scale
Explodely taps into the largest data network of trust and fraud-related signal, which drives quick and accurate trust decisions, analyzing and linking signals from payments data, location ID data, digital identifier data and unique customer data in order to return identity trust decisions that provide the desired frictionless customer experience.
Our solution includes everything needed to evaluate trust levels and make automated decisions
Explodely has developed and deployed proprietary chargeback and fraud prevention technology that has been proven to reduce chargebacks drastically. View our latest case study below: