Chargeback

Recovery

Problem Overview

The continued growth of online shopping has led to a sharp rise in chargebacks, with the average merchant reporting a 19% increase in chargebacks issued year-over-year. Leveraging the best fraud prevention solution on the market is the easiest way to avoid transactions that lead to chargebacks. Forter declines fraudulent attempts from the get-go by reducing chargebacks by up to 90%, so the chargebacks that do occur are largely due to service issues or are cases of friendly fraud. However, 75 percent of all chargebacks issued in 2022 were cases of friendly fraud, in which a consumer claims a legitimate transaction is a fraudulent charge.

Managing these remaining chargebacks presents several time-consuming operational challenges to a merchant’s business, including relying on disparate systems which do not provide a holistic view of chargebacks, spending hours finding and uploading evidence to fight a claim, and keeping up with changing card scheme regulations or compliance. In addition, the volume of chargebacks can fluctuate up or down depending on the buying volume and many merchants struggle with scaling their chargeback dispute processes. Finally, it can be difficult to gain a holistic view of chargeback performance, and many merchants must rely on copying data from disparate sources into spreadsheets to track.

As an alternative, some merchants choose to outsource the chargeback process to a managed service. However, these services are often expensive and, due to their own reliance on manual processes, also struggle with volume changes during busy seasons or when incorporating new work, which tends to negatively impact performance.

Between the unpredictable nature of friendly fraud and the headache of managing chargeback disputes, merchants need more efficient, effective, and streamlined ways to tackle chargebacks to recover lost revenue.

Forter’s Platform

Forter is the Trust Platform for digital commerce. As a platform, Forter assesses every interaction across the digital commerce journey to instantly answer, ‘Can I trust this identity?’ Answering this question accurately is powerful — it can increase conversions, block bad actors, support seamless scalability, and grow customer lifetime value. From sign-up to login to check-out to returns, Forter’s platform unlocks trust for every interaction with your brand, so fraudsters and abusers are always stopped in their tracks, and legitimate customers always get the experience they deserve.

Forter Chargeback Recovery

Chargeback Recovery represents a powerful application of Forter’s platform. Chargeback Recovery enables merchants to streamline the chargeback process by leveraging automation and AI to resolve disputes intelligently and efficiently, eliminate manual processes, improve recovery rates, and recover lost revenue.

Order and Claim Consolidation: Automatically links claims to order data for a consolidated view of all information relating to each claim. This saves the time and effort of pulling data from multiple disparate systems (Payments, Order Management, CRM, etc.)

Claim Insights & Recommendations: With our network of data, Forter has insights into chargeback, transactional, and order information, as well as cyber intelligence and behavioral data from billions of global customers. Chargeback Recovery harnesses these insights to recommend which chargebacks to dispute as well as automatically includes relevant cyber-intelligence and behavioral data in the representment letter to strengthen the dispute case.

Representment Automation: Determines which evidence is most applicable to represent a particular claim, automatically consolidates that evidence, provides pre-populated templates with relevant information to support the case, and sends representments directly to the processor.

Claims Tracking & Performance Analytics

Monitors the status of all claims, performance analytics, and win and recovery rates, all within the Forter portal.

As chargebacks increase in the market, Chargeback Recovery removes the need for merchants to hire a managed service or purchase an expensive, covered fraud solution to dispute chargebacks. By adding automation to the chargeback process, merchants can intelligently scale chargeback recovery operations without adding headcount, even during seasonal bursts.

Forter’s leading fraud prevention solution (Fraud Management) and chargeback recovery solution (Chargeback Recovery) help you drive material business outcomes.

Stop fraud at checkout and intelligently resolve any remaining chargebacks to recover lost revenue.

Strike the right balance between fraud protection and customer experience by reducing, on average, false declines by 46% and chargebacks by 72%.

Shorten time spent on an individual chargeback by up to 90% and focus on higher-value tasks.

Gain full visibility into chargeback performance across all processors and payment methods.

Differentiation

We deliver superior results through our:

Identity Graph: Know who to trust

Forter knows who’s behind each interaction — drawing on our first-party Identity Graph of 1.2B+ online identities. Identities that are new to you are known to us, so you can block more fraudsters and approve more legitimate accounts from good customers.

Network Effects: Fight fraud together

Instead of fighting fraud on your own, you can fight fraud as a consortium with the world’s leading brands. In the past 12 months, over 200,000 businesses trusted Forter to process $350 billion in gross merchandise value. When you partner with Forter, you instantly become part of this network.

Forter Decision Engine: Assess trust instantly

We apply the speed of AI to make decisions, the sophistication of machine learning to detect patterns across vast datasets, and the savvy of fraud experts to continuously update our models. Scale seamlessly to meet any burst in demand, accommodate growth without additional resources, and implement omni-channel experiences like BOPIS, BORIS, mobile checkout, and more.

Expert Guidance: Work as a Team

Forter dedicates a Customer Success Manager and a Fraud Analyst to your organization; they work with you to understand your objectives and tolerances, tune your implementation and ensure exceptional outcomes. For these reasons, Forter’s enterprise customer churn rate is <1%.

“Forter’s team has provided exemplary service...We could not have asked for an easier implementation, and their online tools and reporting make it very easy to understand how we’re performing.”

Chris Brown

VP Customer Care & Sales Support

When you become a Forter customer, you join our network — fighting fraud and delighting customers as a consortium with leaders from all industries. You benefit from automation, freeing you to focus on business drivers. And you log in to a single portal that puts every critical insight and decision data point at your fingertips, so you’re in complete control. Forter elevates fraud prevention to a strategic business driver and ensures you deliver superior results for your organization.

It’s time to take a more holistic approach to managing your digital commerce journey. Forter’s comprehensive platform helps you maximize conversions and minimize chargebacks so you can grow revenue while delivering a seamless customer experience.

To learn more, visit Forter.com.