PAYSTRAX partners with DisputeHelp to improve services

PAYSTRAX sought a complete solution to:

• Assist their merchants in preventing chargebacks to maintain healthy MIDs and decrease risk in their portfolio.• Enhance transaction acceptance rates.

• Broaden their service offerings to boost brand loyalty and prevent revenue loss.

• Automate chargeback prevention to optimise efficiency and reduce operational costs.

Representatives from PAYSTRAX stated that they selected DisputeHelp because of its reputation, industry expertise, and comprehensive offering of Ethoca and Verifi solutions.

Thanks to using Ethoca Alerts and Visa RDR, PAYSTRAX avoided over 98,000 chargebacks, which represents 75% of all potential chargebacks and 83% of potential fraud-related chargebacks. This has delivered significant benefits to their merchants and the broader payments industry. Furthermore, by implementing these initiatives that encourage favourable refund practices and reduce chargeback rates, they observed a 3% increase in transaction acceptance. 

Understanding Chargeback Fees

Chargebacks pose a significant risk to businesses of all sizes. Annually, the expenses related to chargebacks exceed USD 30 billion, surpassing the revenue of numerous Fortune 500 companies such as McDonald's and Netflix. Notably, chargeback fees contribute substantially to the overall expenses, prompting a closer examination.

PAYSTRAX other collaborations 

In December 2021, the European-based intelligent transaction monitoring platform Sentinel has partnered with PAYSTRAX to enhance the anti-money laundering (AML) process in Europe.

PAYSTRAX opted for Sentinel due to its adaptable platform, offering customisable rules-based alerts and data-driven insights to minimise false positives and enhance risk visibility in transactions.

This collaboration enables PAYSTRAX analysts to detect suspicious transactions more accurately and efficiently, reducing client risk and preventing money laundering activities in processing services.