DisputeBee is a professional credit repair software company that helps automate the process of sending dispute letters and tracking communications with credit bureaus and furnishers.
At the company’s inception, DisputeBee had struggled to manage payment fraud – especially friendly fraud. Customers would pay for DisputeBee’s services for a few months, then call their banks afterwards and dispute the charges.
Card testing was another issue. Fraudsters would make small, unauthorized test purchases to see if stolen cards were still valid.
Combined, these issues caused chargeback rates to rise. Meanwhile, the company’s payment processor kept lowering chargeback thresholds — putting DisputeBee in danger of enrollment in chargeback monitoring programs.
DisputeBee CEO Lee Schmidt knew something had to be done. As an entrepreneur running a small business, he's had to automate a lot of aspects of his business in order to keep up with demand — including fraud prevention. But since he was new to the world of fraud and chargebacks, he found information related to the industry — like reason codes and thresholds — overwhelming.
Lee needed help from fraud experts, but he couldn’t settle for just any solution. He needed a solution that could simplify the process of managing fraud and fit his business’s existing processes and capabilities — which is what led him to Kount.
With the help of Kount’s fraud team, DisputeBee set up policies that would automatically make the best decisions for the business. Since then, they have rarely needed to change those settings. They simply log into the Kount dashboard to monitor results.
When DisputeBee came to Kount, their chargeback rate was around 2%, and Lee wasn't sure how they could get it any lower. After working with Kount for just 6 months, they reduced that rate to 0.5% (one half of a percent) and have kept it steady since — eliminating the risk of monitoring programs.
For an entrepreneur like Lee, Kount is the perfect solution. It takes care of all DisputeBee’s fraud prevention and chargeback management tasks — doing the heavy lifting so that Lee can focus on growing his business.
The bottom line is Kount works. It does exactly what was advertised for us, which was reducing friendly fraud. It completely eliminates any fear on our end of being cut off from a merchant processor. And it’s been a really pleasant experience interacting with the Kount team.
— Lee Schmidt, founder and CEO, DisputeBee
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