DataCash offers Chargeback Management that allow acquirers and retailers to communicate chargeback disputes and retrieval requests electronically via e-mail, significantly cutting the annual costs resulting from unnecessary chargebacks and write-offs.
Turnaround time for a chargeback retrieval request reduced from weeks to literally minutes
Outsource some or all of the operational aspects of dispute management
Supports the chargeback rules and regulations for the UK and USA marketplace, encompassing Visa, MasterCard, Diners, American Express and JCB.
Removes the costly and time consuming need for paper documentation
Provides retailers with management information relating to disputes, assisting in the detection of fraud
All retailers, both in the UK and globally, face operational issues with the fulfilment of Copy Voucher (or CV) and Chargeback Supporting Documentation (or CSD) requests made by Acquirers as a result of customer disputes. This is particularly true for retailers that have many retail outlets where sales vouchers are stored, and for those that deal with significant numbers of Cardholder Not Present (or CNP) transactions.
Consequently, retailers bear significant costs in unnecessary chargebacks and write-offs. These can be due to the deadlines laid down by the Payment Card Schemes being missed, CV or CSD documentation not being found, or because the operational cost of retrieval is uneconomical.
For most retailers, the issue is set to get worse as the use of credit and debit cards increase, levels of fraud rise, and the use of channels for CNP transactions gain increasing popularity; in particular, the Internet.
Most Acquiring Banks send retailers retrieval requests as letters - one per dispute. The bank then expects an original paper copy or a fax back from the retailer. This reliance on paperwork and lack of automation makes the process cumbersome for the retailer and fuels the perception amongst them that dispute management is not an issue Acquirers give serious attention to - preferring instead to leave this as a problem for the retailers to solve.
To tackle this problem, a suite of software products and outsourcing services have been developed called Chargeback Manager. Chargeback Manager, underpinned using Workflow technology, allows Acquirers and retailers to communicate disputes and retrieval requests electronically via e-mail, and Acquirers to fulfil requests using workflow, Internet and document imaging technologies.
With Chargeback Manager, the turnaround time for a request can be reduced from weeks to literally minutes. Additionally, Chargeback Manager's Intelligent Reporting Suite (or IRS) provides retailers with management information relating to disputes, which assists in the detection of collusive and sweetheart fraud.
With Chargeback Manager, retailers can continue to manage dispute processes themselves, or, to gain even greater business benefits, outsource some or all of the operational aspects of dispute management. With Chargeback Manager, retailers can conservatively expect to reduce write-offs by 30%, as well as to save money in the areas of labour, storage-space, communication costs and the reduction in manual errors.
The benefits of Chargeback Manager are not limited to the retailer. The benefits to the Acquirer are also significant, not only in operational cost savings due to the elimination of paper, but also in terms of increased customer satisfaction. Furthermore, Chargeback Manager uniquely provides Acquirers with the possibility to increase the revenue and profitability of major retailers by recognising revenues from the Payment Scheme Incentive Fees - revenues previously unattainable.
In addition, Chargeback Manager can offer Acquirers a unique opportunity to differentiate their services to its major retailers. This will not only enable Acquirers to retain existing clients (particularly those with a significant dispute management issue), but also to secure new clients looking for value added services from their Acquiring Bank.
Chargeback Manager is available to the retailer for either a one-time licence fee or a monthly licence fee basis and supports the chargeback rules and regulations for the UK and USA marketplace, encompassing Visa, MasterCard / Europay, Diners, American Express and JCB.