Can closed-loop chargeback solutions reduce time spent on manual reviews?
Chargeback solutions from a closed-loop solutions provider integrate with the issuers, which offers merchants accurate and timely chargeback indication information. Also, timely information directly from the issuer after a customer initiates the dispute, provides the merchant the time necessary to resolve the dispute with the customer in an expedited manner. A closed-loop chargeback solution greatly lowers false positives and substantially reduces the rate of unnecessary manual reviews. Eliminating the inefficiencies caused by unnecessary manual reviews allows more time to be spent on revenue producing activities or operational efforts that improve customer experience.