LONDON, UK -- Vantage Point, an online business, has announced a 30-day free trial promotion of their software service for e-commerce businesses in the USA and UK. The software is used to fight a surge in friendly fraud chargebacks in order to save online stores costly fees and loss revenues. Friendly fraud occurs when a customers order items from online shops and later claim never had recived the item and request a refund form the credit card provider. After contact the credit card company the merchant has little or no defence against such claims and usually looses the dispute, the credit card compnay removes the funds paid to the merchant and refunds them to the customer. They also charge the retailer a fee anything from $5 to $35 for every item. As chargeback fraud involves customers making untrue statements about online retailers in order to receive refunds that they do not deserve. It can be very difficult for businesses to combat this fraud, as payment processors often side with consumers unless the online stores can provide definitive proof to counter the claims against them. Statistics show that chargeback fraud accounts for roughly one-third of all losses suffered by e-commerce stores due to theft, fraud and dishonesty, and experts indicate that this form of fraud is on the rise. As a result, online merchants are looking for ways to better document sales in order to have evidence on hand to substantiate their version of events when fraudulent disputes are levied against them. Vantage Point is a service designed to help merchants do just that. Vantage Point is a software program that is compatible with all types of e-commerce store software. Once installed, the program records screencasts and makes a video recording of customers activities while they shop. This shows every click, scroll and key press as well as the IP addresses, time and date and device information about the purchases. In addition, the video shows exactly what the customers saw on the page in terms of the product description and photographs. All of this information can be shared with customers and with payment processors in the event of a dispute, providing the documentary evidence needed to fight fraudulent chargebacks. - See more at: ift.tt/1wBsgMA DatSyn News - VANTAGE POINT FRIENDLY FRAUD PROTECTION FOR ONLINE MERCHANTS
Posted on: Thu, 11 Dec 2014 09:20:32 +0000
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