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September 14, 2016

New Service Aims to Curb Chargeback Fraud

MIAMI – Buyers’ remorse and outright fraud cost online merchants millions of dollars each year. Between consumers charging back payments after services have been rendered and credit card associations always siding with consumers, merchants haven’t a prayer of reclaiming the funds.

The chargeback problem will never disappear, but one company believes it has a solution to curb merchants’ losses. Alto Global Processing has developed AltoShield, a software product the company describes as a proactive solution “that prevents chargebacks from reaching your bottom line.”

“AltoShield uses leading chargeback interception technology to help merchants worry less about chargebacks and more about growing their revenue,” said Luca Bizzotto, Alto’s chief executive officer. “Our chargeback interception service bridges the gap between card issuers and merchants while providing a clear line of communication to stop chargebacks before they are sent to the merchant’s acquiring institution. In collaboration with Ethoca and Verifi, AltoShield’s secure network enables issuing banks to collaborate directly with merchants to stop fraud, recover lost revenues, accept more transactions and reduce the number of chargebacks included in threshold calculations.”

A key component of the chargeback prevention strategy is the new AltoRAM (Representment Analytics Monitoring) system.

“AltoRAM is designed to help businesses manage the chargebacks that are received by providing real-time reporting and alerts that include your chargeback levels along with identification of any suspicious activity,” Bizzotto explained. “The system gathers chargeback data as well as important transaction details, allowing us to fight the chargeback and win your money back right away.”

Already integrated with many customer relationship management systems and payment gateways, AltoRAM typically requires a plug-and-play integration and can be used in conjunction with any payment processor anywhere in the world.

For more information, visit AltoShield.com.



 
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