PREVENT FRAUD AND CONTROL CHARGEBACKS
RECOVER REVENUE WITH BENCHMARK’S MITIGATION SOLUTIONS
The payment industry has seen a decline in card-present fraud since the nationwide shift to EMV technology. In contrast, card-not-present (CNP) fraud in the U.S. was forecasted to jump to $7.2 billion in 2020, up from $2.8 billion in 2014, according to a 2016 report, “3-D Secure: The Force for CNP Fraud Prevention Awakens,” prepared by Boston researchers, Aite Group. The rise in fraud is driven by a substantial growth in e-commerce transactions and an increased focus by fraudsters on the CNP channel.
Our protection measures include:
- Stronger Online Authentication Tools
- Incorporation of Behavioral Analytics
- Use of Tokenization
Keep more of your hard-earned money and stop wasting time disputing chargebacks.
Our expert team will increase your win ratio, so more of your revenues stay in your back account where they belong. And perhaps more importantly, you won’t have to think about charge backs ever again, so you can move on to more important parts of your business and your life.
Chargebacks can disrupt your business cash flow when funds that were previously deposited into your bank account are suddenly withdrawn.
Chargebacks present a major problem for many merchants. A chargeback occurs when a dissatisfied customer contacts their credit card issuer to contest a charge. For a customer who has been victimized by fraud, through identity theft and/or a stolen credit card, a chargeback is their fallback option. However, customers can personally dispute charges for other reasons, like their order was not delivered on time, or they simply don’t recognize the merchant name on their credit card statement – known as friendly fraud. Regardless of the reason, chargebacks can be harmful to any business.
Without professional help, chargeback disputes rarely achieve the desired result.
While you have the right to dispute illegitimate chargebacks, crafting an effective dispute takes significant amounts of valuable resources—resources that you should be using to grow your business. Without professional help, these chargeback disputes rarely achieve the desired results. What’s more, chargebacks can come with a penalty fee that can range from nominal to exorbitant and result in funds being held, and too many chargebacks can cause your merchant account to be closed.
Today’s merchants have to proactively combat payment card fraud, prevent chargebacks before they happen, and fight chargebacks once they do.
Benchmark’s fraud prevention strategies and chargeback prevention tools can accommodate a variety of payment options, sales methods, and dynamic transaction types.
No single security mechanism can protect against all possible fraud scenarios; which is why Benchmark uses a systematic, layered approach to secure all transaction data. By pooling together our best practices in both card-not-present transactions and high-risk industries and applying our in-depth knowledge of chargeback mitigation and fraud prevention, we design comprehensive solutions to address fraud and both sides of the chargeback issue – prevention and reversal.
As a leader in merchant processing, we also have extensive experience with hard-to-acquire merchant accounts and in high risk credit card processing. Enjoy peace of mind knowing our dedicated team will always be there to deliver quality service and support whenever you need it.
TAKE ACTION BEFORE IT'S TOO LATE
DON’T ACCEPT FRAUD AND CHARGEBACKS AS A COST OF DOING BUSINESS
Every day you wait to take action to protect your business from fraud and control chargebacks is another day your business remains vulnerable. If left unchecked, fraud and chargebacks steal profits and threaten your business’s longevity. With so many different and constantly changing fraud and chargeback rules, and so many networks operating differently, it’s easier than ever to fall behind — and now harder than ever to catch up — so the biggest risk is actually doing nothing.
Let us help you regain control, both by fighting chargebacks and by preventing them, while reducing fraud – so your company can retain the revenue it has rightfully earned.