Finding Revenue in Friendly Fraud Losses Webinar
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Finding Revenue in Friendly Fraud Losses Webinar
- 3. ©Kount Inc All Rights Reserved Today’s Agenda How to reduce chargebacks related to criminal and friendly fraud How to improve bank and customer behavior through disputing your chargebacks A case study of how much ROI you can gain from fighting chargebacks Benefits of the Kount and Chargebacks911 partnership
- 5. ©Kount Inc All Rights Reserved Chargebacks are Usually Labeled as Fraud. FACT: There are 3 Types of Fraud.
- 12. ©Kount Inc All Rights Reserved Elements of Criminal Fraud Data Tools Opportunity
- 15. ©Kount Inc All Rights Reserved Multiple Opportunities Mobile Hot Products Payment EMV Easy Transfer
- 16. ©Kount Inc All Rights Reserved Indirect Consequences of Criminal Fraud Increased Manual Reviews Increased False Positives Slowed Growth Constrict Sales Channel
- 17. ©Kount Inc All Rights Reserved Fraud Platform Collects and Creates Massive Data Collaborates Best-In-Class Data Providers Real-Time Machine Learning Provides Best Practices and Fraud Expertise Proprietary & Patented Fraud Screening Tech Real-Time Fraud & Risk Data Orchestration Hub Advanced AI Machine Learning Technology Experienced Human Intelligence A Multi-layer approach
- 26. ©Kount Inc All Rights Reserved Case Study Top 100 Internet Retailer Leader in digital ecommerce 6 million entrepreneurs in 190 countries Over $4 billion in sales since 2005 200 million customers “We were experiencing a high-volume of chargebacks with merchants that employ repeat monthly subscrip;ons, mul;ple re- bills, and upsell funnels.”
- 27. ©Kount Inc All Rights Reserved Case Study Generous 60-refund policy Some customers sHll file chargebacks instead of requesHng a refund Access to digital products is usually immediate, so in many cases customer gets value even if charged-back Digital goods difficult to represent chargebacks We simply took the chargeback “While we have a clear and generous 60-day refund policy, too many customers appeared to be filing chargebacks instead of reques;ng refunds.”
- 28. ©Kount Inc All Rights Reserved Case Study Kount managed criminal fraud, reducing chargebacks related to fraudsters Kount & Chargebacks911 soluHon reduced losses related to friendly fraud IniHal results showed how we recouped over $400,000 in the first 90 days Re-presentment success rate above 70% No increase in operaHonal cost, headcount, etc. “We were experiencing a high-volume of chargebacks with merchants that employ repeat monthly subscrip;ons, mul;ple re- bills, and upsell funnels.”
- 29. ©Kount Inc All Rights Reserved The Best Solu>on is the One That Targets the True Source of the Problem. ü Analyze trend (will this conHnue or grow?) ü Differen;ate symptom (what is the symptom vs. source) ü IdenHfy source ü Understand the problem ü Create a soluHon ü Test the soluHon ü Evaluate results ü Deploy the soluHon ü Duplicate success
- 30. ©Kount Inc All Rights Reserved Solving the Problem in 3 Steps
- 31. ©Kount Inc All Rights Reserved Simple. Comprehensive. Effective. Recapture revenue from fraudulently filed disputes Resolve errors with accurate feedback Reduce chargebacks Reduce issuer declines Discover the underlying source Enhance layered results Receive intelligent feedback Reverse friendly fraud trends Improve overall results
- 32. ©Kount Inc All Rights Reserved Chargeback Retrieval Service Self-Service Portal Fully Managed Service* *Financially Guaranteed Take the friendly out of fraud with 3 integrated options