The Chargeback Company, a provider of chargeback management solutions, has introduced a new service to prevent chargebacks in ecommerce resulting from fraudulent activities.
The new offering, called Enriched Alerts Service, will be available as part of the firm’s dispute management and remediation platform.
The firm’s co-founder and CIO Monica Eaton-Cardone said that the service will lower the onset of chargebacks as well as reduce associated mitigation costs.
Enriched Alerts Service is an upgraded version of Chargeback Prevention Alerts, which was launched years ago.
The previous version aimed to prevent chargebacks by flagging transaction refunds to merchants within a designated time window.
The latest version will allow merchants to remedy fraudulent transactions with a refund and at the same time leverage data to address friendly fraud claims.
Commenting on the new proposition, Eaton-Cardone said: “Enriched Alerts Service helps merchants overcome challenges with false-positives, offering a more flexible approach to post-transaction chargeback prevention. In the past, merchants were mandated to refund alerts to avoid chargebacks. With our new Enriched Alerts Service, they now have the opportunity to prevent a chargeback through a digital remedy or cancellation confirmation.
“Our new service arms merchants with the information they need to make better decisions, which may mean foregoing an automatic refund and pursuing alternative ways to reconcile a flagged transaction. This enhancement to our award-winning technology helps clients resolve customer disputes while greatly reducing the overall cost of chargeback prevention.”