Structuring the Chaos of First Party Misuse Leveraging Compelling Evidence
Consumer spending patterns are predictable based on seasonality, industry, or payment type; but what a customer does after spending is unpredictable. When a consumer is dissatisfied with a product or service, how a merchant handles the post-purchase experience is critical to customer retention and dispute prevention. Merchants need to protect their business from losing revenue due to both true fraud and friendly fraud. Many advancements have been made in the payments industry to help the overall ecosystem reduce unnecessary disputes and combat friendly fraud. Our session will discuss consumer trends, network level dispute performance, new strategies to combat first-party misuse, and the evolution of compelling evidence. We’ll also have a European merchant share details about how they manage their post-purchase experience, both internally and for their customers. With this evolution of compelling evidence, merchants can now provide issuers with historical transaction details to confirm the legitimacy of a transaction and block illegitimate fraud claims by the consumer. This session will also cover how merchants can leverage this rule change in both the pre-dispute path (deflecting the dispute prior to formal processing) and post-dispute path (providing the qualified CE3.0 data in pre-arbitration) for Visa transactions.
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