Fight the rising costs of cardholder disputes & false claims.
Customer disputes and false claims (‘friendly fraud’) are a significant, and growing, problem for card issuers. Whether it’s a case of cardholder confusion caused by a charge they don’t recognize, or an attempt to abuse the system for personal gain, you are typically the first point of contact and it can take upwards of six interactions to resolve a claim. The result? Considerable operating expenses, reduced transaction income and poor customer experience. And perhaps the biggest threat: legitimate transactions miscoded as fraud – an outcome that drives higher false declines for cardholders who then opt to use a different payment card (‘back of wallet’ syndrome). But, what if you could streamline this inefficient process and eradicate the downstream chargeback and representment costs by having access to order and account information at the instant you need it? In fact, what if you could avoid the claims process altogether?
Ethoca Eliminator digitally transforms the cardholder experience by connecting issuers to merchant order and account history details in real-time through an intuitive and easy-to-use web-portal. Take back control over disputes and eliminate friendly fraud through collaboration – download the brochure to find out how.
Why do you need Ethoca Eliminator?
- Call center demand eliminated: Card issuers are now able to reduce 4-6 'touches' per claim to 'single contact' resolution.
- Downstream representment and incremental claims processing costs eliminated.
- Approximately $10-25 in cost per full claim eliminated.
- Fraud detection accuracy improved: "Noise" from improperly coded fraud transactions is eliminated and false declines decrease, providing a better cardholder experience and increased acceptance.
- Lost revenue eliminated: Increased transaction income when cardholder assumes rightful responsibility, in addition to increase spending on card. 'Account on file' relationships remain intact since cards don't need to be reissued.