A friendly fraud solution can help businesses relay transaction details to issuing banks and customers. In the event of a dispute, these transaction details can help customers recognize purchases. Friendly fraud (or first-party fraud) can occur for several reasons.
It can be accidental, intentional, or the result of a merchant error or policy abuse. A friendly fraud solution makes it easy for businesses to relay transaction details quickly and stop disputes from becoming chargebacks.
Save the sale
When customers recognize purchases, you stop disputes in their tracks.
Plus, you get to keep revenue from their purchase and avoid friendly fraud chargebacks and fees that can hurt your business.
Resolve disputes quickly
Helping customers recognize purchases can help you create positive brand experiences.
And if you need to refund a purchase, you can do so quickly and further prevent chargebacks.
Improve business policies
Reveal gaps in business policies that make it easy for bad actors to commit refund fraud and promo abuse.
Adjusting business policies can prevent merchant errors that lead to friendly fraud.
Kount’s Dispute and Chargeback Management dashboard gives businesses a single place to access friendly fraud solutions from major card brands.
As soon as a business receives a dispute inquiry that indicates friendly fraud, they can quickly relay additional transaction details to the customer. In some cases, they can automatically refund the purchase to stop the dispute from becoming a chargeback.
Kount Command is an award-winning solution that prevents digital fraud across the customer journey. The solution uses advanced AI that’s equipped with supervised and unsupervised machine learning.
Automatically approve high-trust interactions and decline low-trust interactions. Automating decisions can reduce false positives, increase revenue, and stop fraudulent activity that leads to chargebacks.
Kount’s professional services give you access to dedicated fraud consultants. Our experts can quickly analyze your transactions and chargebacks to identify cases of friendly fraud. Let our experts optimize your fraud policies and reveal how much you stand to gain by eliminating friendly fraud.
Ready to prevent chargebacks from friendly fraud?