Chargebacks are a huge problem that face merchants today. The incidence of friendly fraud is around 23% of all fraud claims, so disputing chargebacks can be a big benefit to your business. There are several services designed to help merchants manage their chargebacks, including Midigator: a user-friendly, effective software with many features to make disputes easy to keep track of. If you’re concerned about how chargebacks are affecting your business, consider monitoring them using Midigator.
- Intelligent Dispute Responses: This feature will generate a customized chargeback response that analyzes evidence relating to the chargeback and helps you build a package to win the dispute.
- Chargeback Prevention Alerts: When a customer disputes a transaction and the issuing bank sends an alert through the network, Midigator informs you of the chargeback and allows you to easily refund the customer, stop order fulfillment, and update order information. Once this has been done, the dispute is resolved and no chargeback occurs.
- In-Depth Analytics: With the analytics feature of Midigator, you can identify marketing strategies that produce more high-risk customers and discontinue them, while also zeroing in on strategies that produce loyal customers; determine the chargeback reason code that most often turns up in order to reduce friendly fraud; find out when in the subscription cycle customers are most likely to file a chargeback and remind them of your cancellation policy instead; learn which products are being charged back the most and reduce the risk by removing those items from your inventory; discover new markets overseas and see if the reward is higher than the risk and which price point is most likely to make customers charge back the purchase; and determine the preferences of different issuing banks to create the best strategy for winning a chargeback.
- Custom Notifications: Pick which metrics you want to monitor and receive email or dashboard notifications about them: Chargeback Ratio, Chargeback Count, Chargeback Dollar Amount, Total Sales, Transaction Counts,and Card Network Regulations.
- Real-Time Account Reporting: Midigator compiles your data for you to see in real time so you can make educated decisions about your business.
- DisputeFlow: Instead of manually downloading chargeback data from different portals, copying and pasting data into documents, struggling to understand submission expectations, and wasting time searching for response results, Midigator’s DisputeFlow feature receives all chargeback information in a single portal,builds dispute responses, sends packages with one-click submissions, and monitors detailed reporting and automatic results. This significantly cuts down on the time and frustration spent on fighting chargebacks.
Midigator is a unique software built for merchants, by merchants. If you want to prevent chargebacks and reduce payment processing risk, fight chargebacks and recover lost revenue,and automate tasks and streamline processes related to chargebacks, Midigator may be right for you. After all, your business depends on have the least chargebacks possible!
