As we enter the new year, we wanted to look back on 2019. Below is a collection of our most popular, most helpful, best-researched articles of 2019.
These top articles are divided into four different sections:
Top Reads are this year's most-read articles (and for a good reason).
What Merchants Need-to-Know is the most valuable information for merchants.
Looking into 2020 are articles based on new trends that we predict will continue to grow.
Personal Favorites are my favorites from this year.
Top 5 Reason Codes and How to Respond
Reason codes are a vital part of dispute management. Their purpose is not only to inform merchants why they are receiving a dispute but to also point merchants in the direction of what is causing the disputes. In this post, we'll go over the top five reason codes and the main pieces of evidence needed to respond to these disputes. Read more about the top five.
What is the Visa Dispute Monitoring Program?
The Visa Dispute Monitoring Program is Visa's way of monitoring merchants that receive excessive amounts of fraud or disputes. But this isn't a program merchants want to be enrolled in. In this post, we will go over Visa's two monitoring programs, how merchants get put on those programs, and how you can monitor your disputes. Read more about the monitoring program.
What is Return Fraud?
While creating the return process, merchants should keep in mind the balance of easy returns for customers and safeguarding themselves from return fraud. Read more about return fraud.
What is a Payment Reversal?
Payment reversals are part of running a business. It is important to understand what types of payment reversals happen, under what circumstances each takes place, and what the outcomes are for merchants. Read more about how and why reversals happen.
What Merchants Need-to-Know
How to Connect to VMPI
Many merchants are already taking steps to prevent invalid disputes by using Visa's Merchant Purchase Inquiry (VMPI). Here is what you need to know about VMPI and how you can get integrated. Read more about VMPI.
Friendly Fraud and Chargeback Fraud. What's the Difference?
When discussing disputes and chargebacks, the terms "friendly fraud" and "chargeback fraud" are often used synonymously. But it's important to differentiate them. Read more to understand these two types of fraud.
Why Analysis of Dispute Data is so Important
When a merchant receives a dispute, the first step is to respond or accept the customer's claim. While the response process is vital for merchants to recover revenue, simply responding to disputes isn't enough. In this post, we'll explain how analyzing disputes benefits merchants—and what merchants should be looking at in their analysis. Read more about dispute data.
Visa's New Dispute and Fraud Thresholds
Visa has made some changes to the Visa Dispute Monitoring Program (VDMP) and the Visa Fraud Monitoring Program (VFMP). The changes include lowering the thresholds that put merchants on these watch lists. Read more about the Visa Changes.
Looking into 2020
Today's Fraudsters are Getting More Sophisticated
To stay one step ahead of fraudsters and to prevent fraudulent activities from happening requires knowledge of how fraudsters will attempt to gain merchandise or funds from the merchant. The DataVisor Fraud Index Report goes through how fraudsters are getting more sophisticated and the methods they are using. Read more about today's fraudsters.
The 3 Types of Dispute Management Software
Dispute management is necessary for every company that wants to prevent fraud and protect hard-earned revenue. There are three types of dispute management software that help merchants manage disputes. Read more about software.
Is Friction at Checkout Actually a Bad Thing?
From Amazon's one-click checkout to an increase in the availability of subscription goods, merchants are going above and beyond to create a frictionless checkout process. But what if some friction isn't a bad thing? What if there is actually a healthy amount of friction at checkout? Read more about healthy friction.
Effective Customer Communication is a Game Changer for Disputes
Great customer service not only empowers customer relationships, but it also prevents disputes. A piece that goes into having effective customer service is to create easy to use channels to communicate with your customers. A new Javelin study emphasizes why this is so important. Read more about communication preventing disputes.
Repeat Chargeback Offenders: What Should Merchants Do?
The dispute process was initially put into place to protect cardholders from fraudsters and dishonest merchants. Unfortunately, some cardholders try to take advantage of the chargeback process for monetary gain. If merchants and issuers do not track and block repeat offenders of chargeback fraud, merchants will suffer losses from fraud and increased dispute rates. Read more the chargeback fraudsters are not being tracked by 44% of issuing banks.
Why You Should Respond to Every Dispute
The only way for merchants to make sure they are retaining all possible revenue is to respond to every dispute with a quality dispute response. In this post, we will take a look at some telling social media posts that show why merchants should respond to every dispute. Read more about chargeback fraud disputes.