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The dispute and chargeback landscape is becoming increasingly complex due to surging digital payments, ongoing changes to regulatory compliance, and intensifying competition amongst acquirers and merchant service providers.
In light of these pressures, european-based PAYSTRAX was looking for a comprehensive solution that would:
- Help their merchants prevent chargebacks in order to keep MIDs healthy, and reduce risk in their portfolio.
- Improve transaction acceptance.
- Expand their list of services to increase brand loyalty and prevent revenue disintermediation.
- Automate chargeback prevention, thereby maximizing efficiency and minimizing operational expenses.
PAYSTRAX turned to DisputeHelp and their RESOLVE solution to go to market quickly with Ethoca Alerts and Visa Rapid Dispute Resolution (RDR) to satisfy these requirements.
“We chose DisputeHelp due to their outstanding reputation, industry knowledge, and the fact that they’re a one-stop-shop for Ethoca and Verifi solutions,” said Wolfgang Specht, Head of Merchant Risk & Card Scheme Project Management for PAYSTRAX. “This is important for us, as in the future we plan to expand our use of their solutions to help us further differentiate from our competitors and increase client loyalty and satisfaction.”
Thanks to a combination of Ethoca Alerts and Visa RDR, PAYSTRAX have been able to prevent more than 98,000 chargebacks. This accounts for 75% of their total potential chargebacks, and 83% of all potential fraud-related chargebacks – providing immense value to their merchants and the payments ecosystem in general. What’s more, since implementing these programs that promote positive refunding behavior and lower overall chargeback levels, they noticed a 3% improvement in transaction acceptance.
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“DisputeHelp’s RESOLVE tools have almost completely eliminated our chargeback issues and greatly improved merchant satisfaction,” said Wolfgang Specht. “Their staff are incredibly responsive, and are constantly helping us to fine-tune the solutions so they operate at maximum efficiency.”
“We’re thrilled at the results yielded by PAYSTRAX and their merchants – particularly the increase in transaction acceptance,” said Bart Szypkowski, Chief Revenue Officer at DisputeHelp. “Merchant acquirers and service providers are increasingly looking to modernize their dispute management solutions and differentiate themselves with meaningful value-added services. At DisputeHelp, we’re helping them do exactly that by ensuring they have the technology-driven tools to thrive in an increasingly complex ecosystem.”