Page 25 - GS241201

Insights and Expertise

Reducing transaction confusion Enhance transparency and customer confidence

To minimize transaction confusion and reduce the risk of As digital payments become more integral to everyday
chargebacks, merchants can focus on clearer communica- transactions, clarity in payment information has never
tion with customers through these strategies: been more crucial. With consumers moving rapidly to-
1. Optimize merchant descriptors: Collaborate with ward online and digital purchases, merchants who pri-
payment processors to ensure transaction names on oritize transparency can not only avoid unnecessary
statements are easily recognizable and closely match chargebacks, but also strengthen their relationships with
your business name. If that’s not feasible, consider customers.
adding further details like the location of purchase,
website link or customer service phone number to Clear communication is no longer a luxury; it's essential
help customers identify the transaction. for business resilience. By addressing common points of
transaction confusion, merchants not only protect their
2. Provide immediate receipts: Sending instant receipts earnings, but also create a smoother, more trustworthy ex-
via email or SMS for each transaction provides cus- perience for customers, laying the groundwork for lasting
tomers with a quick reference when reviewing their loyalty in an increasingly digital market.
bank statements. Roger Alexander serves as a key adviser to Chargebacks911’s Advisory
3. Send follow-up emails: For large or unusual purchas- Board and its CEO, Monica Eaton, assisting the company with its expan-
es, follow up with an email containing transaction sion initiatives, including the highly-anticipated launch of its dispute
details and an explanation of how it will appear on resolution solution set to address the record spike of authorized push
their bank statement. This can help jog the customer’s payment (APP) fraud claims. Alexander has previously served in vari-
memory and reduce potential confusion. ous leadership roles within the payments and financial services sectors,
4. Enhance customer support: Ensure customers can including directorial roles at Barclays and subsequently as the CEO of
easily contact your support team with any queries. Switch (the UK’s debit card) and president of Elavon Merchant Services
Researchers have found that over half of chargebacks Europe. He is currently a strategic advisor for Tarci and Pennies, a major
could be resolved through direct communication be- UK charity. To learn more, visit: https://chargebacks911.com. Contact
tween merchants and consumers, underscoring the Roger Alexander via LinkedIn at https://www.linkedin.com/in/alexan-
importance of responsive support options. derroger/

We Buy Agent Portfolios

David Daily
Zach Daily CEO & Founder Alex Daily
Business Development Business Development
Denise Shomo Katelyn Schickling
President Business Development
Contact us today for a complementary portfolio valuation

or to inquire about our referral program for ISOs

+1.610.451.4096
cutterfinancial.com

25