Dynamic Descriptors & Phone Numbers
How many chargebacks are caused by customers querying a charge they don’t recognise on their statement? As many as 58%. Probably higher for e-commerce.
And if you get a lot of chargebacks, you’re not only losing transaction income – you risk losing your status with your card company.
Dynamic Descriptors and Phone Numbers can help. By adding tailored, meaningful product data to any transaction, we can eliminate most queries because customers can look at a statement and know what they’re paying for. Add your customer services number as well and, if people do query a transaction, it means you can resolve it rather than it going to your Issuer for chargeback.
Why is it Dynamic? Basic descriptor services simply add the name of whatever company handles your payments – ‘BACKROOMCO’ – which might not even relate to your website name. That’s not good enough. Our Dynamic Descriptors can be tailored to show specific products, departments or phone numbers:
YOURCO PET INSURANCE
YOURCO -0800 456321
Whether you use our standalone service, or tie it to Recurring Payments, Dynamic Descriptors will reduce chargebacks, stem losses and boost repeat business by reinforcing your business name.