PXP Financial, a global acquiring, payment, fraud and data analysis service provider, has joined forces with financial dispute management solution provider DisputeHelp, to launch two new Visa solutions to combat first-party fraud and reduce chargeback for merchants.
Through a new collaboration, PXP Financial and DisputeHelp are launching Visa’s Compelling Evidence 3.0 and Order Insight, with these solutions looking to serve as a fraud prevention framework.
The partnership leverages DisputeHelp’s expertise in chargeback and fraud mitigation solutions and PXP Financial’s payment solutions to provide merchants with a robust tool to safeguard revenue and customer trust.
Kasia Gruszka, senior scheme manager at PXP Financial
“This is an exciting development that has enabled PXP Financial to integrate OI & CE3.0 into our payment processing platform, providing merchants with an end-to-end solution that includes fraud prevention, transaction tracking, and chargeback management,” explained Kasia Gruszka, senior scheme manager at PXP Financial. “We are proud to have already successfully embedded OI & CE3.0 into our existing ecosystem and to now provide merchants with holistic fraud prevention solutions that go far beyond industry standards.”
Following the launch, merchants can access the tool to help prevent and reduce financial losses caused by first-party fraud. By shifting liability back to the issuer when evidence is provided, ‘Compelling Evidence 3.0’ and ‘Order Insight’ minimise operational disruptions and overhead costs for merchants.
PXP Financial explained that these solutions will help merchants protect profitability by recovering transaction funds, minimising revenue loss, and enhancing financial stability through robust evidence and improved dispute management.
Bolstering fraud prevention practices
Visa’s solutions address various critical challenges merchants face, including first-party fraud prevention; chargeback management; operational efficiency; as well as false declines.
Bart Szypkowski, chief revenue officer at DisputeHelp, also added: “’Compelling Evidence 3.0′ and ‘Order Insight’ are game-changers in first-party fraud prevention in that they enable merchants to shift liability back to the card issuer if they can provide proof of two prior legitimate transactions with the same payment credentials – providing indisputable evidence of an existing customer-merchant relationship.”
To streamline and enhance its monitoring programmes, Visa plans to phase out its existing Visa Dispute Monitoring Program (VDMP) and Visa Fraud Monitoring Program (VFMP), replacing them with an upgraded Visa Acquirer Monitoring Program (VAMP) from 1 April 2025.
The consolidated programme will incorporate updated metrics and enforcement measures to improve fraud and dispute monitoring, impacting how acquirers and merchants address compliance requirements limiting immediate financial losses and lowering chances of false declines leading to exponential revenue losses down the road.
In response to the impending changes, PXP Financial and DisputeHelp have deployed a new suite of solutions which offer robust protection against disputes for PXP Financial’s clients, helping them to stay compliant with VAMP regulations while safeguarding their bottom line.
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