The dreaded chargeback. You’ve just come off a successful holiday season and the chargebacks start rolling in. There are going to be chargebacks because of unavoidable issues – customer service, shipping or merchandise issues. There are also chargebacks because the customer receives a product that just isn’t up to their standards. So honestly, you can’t avoid all chargebacks. But then there are fraudulent chargebacks, the ones where a consumer sees a charge on their credit card that they didn’t authorize, that you CAN do something about.
Because you can’t avoid all chargebacks, the ones that look like they’re fraud can be stopped – by being proactive and taking advantage of EMV® 3-D Secure and authentication before authorization - the KEY to reducing fraudulent chargebacks and protecting your bottom line!
Cardinal understands the struggles both issuers and merchants face. Issuers don’t want to bear the brunt of chargebacks and merchants with too many chargebacks can get a bad reputation, be charged penalties and fines for each chargeback, even get put on a remediation plan. Here’s how Cardinal can help.
This is 3-D Secure done right.
EMV 3-D Secure authenticates transactions by taking advantage of today’s technology, especially when it comes to mobile payments. The days of consumers making online purchases through only desktop computers are over, and Cardinal can authenticate transactions made on any device. EMV 3-D Secure uses enriched data and expanded data sharing so issuers can make more confident risk decisions. As a matter of fact, most transactions are authenticated behind the scenes, with no effect on the consumer experience. A small percentage of the time, the customer may be challenged for a one-time passcode or biometric information that a fraudster couldn’t know or have. By using EMV 3-D Secure and getting authentication PRIOR to authorizing a charge, the percentage of fraudulent transactions can be reduced, resulting in less chargebacks down the line.
In the end, authentication matters.
For more information about EMV 3-D Secure or other Cardinal products, contact us!
EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC