Monica Eaton’s New Feature for PaymentsSource
In her latest think piece for PaymentsSource, Chargebacks911® COO Monica Eaton suggests that new technologies and service tactics will play a role in reducing the economic impact of coronavirus.
PaymentsSource offers frontline coverage and analysis for payments professionals. They provide “critical insight and thought leadership on the fast-moving global payments sector,” attracting an audience more than 16,000 followers representing merchants, acquirers, issuers, gateways, and PSPs.
Monica suggests that merchants must be able to identify chargebacks by their true source. Of course, that’s easier said than done for most merchants. This is why it’s necessary for sellers to develop a multilayer, complimentary strategy for chargebacks. “Luckily, there are multiple complementary fraud detection tools merchants can employ, including Address Verification Service (AVS), CVV verification, 3-D Secure, and geolocation, just to name a few,” Monica explains.
Of course, chargeback management goes beyond simply preventing criminal fraud. Monica goes on to outline how merchants should ensure customer satisfaction and prevent errors that can lead to chargebacks.
“Deploy smarter chatbots. Chatbots can help offload simple queries that don’t require live responses. Chatbots should fill two key functions: to answer very simple questions that don’t require human interaction, and quickly and efficiently direct more complicated questions to the proper service channel.”
