Tips: Merchants Descriptors

Want to see how Chargeback Gurus can help your business prevent fraud and chargebacks? Schedule a demo with us here: https://hubs.ly/H0mgh-T0​​ Many consumers track their credit and debit card purchases through their monthly billing statements. These provide a way for customers to look back on their transactions and to see any instances of fraud. A merchant descriptor is a brief description of where a charge was made and what it was for. These are typically set up when a merchant first enrolls into their payment processor. There are three kinds of merchant descriptors: pending descriptors, static descriptors, and dynamic descriptors. These are typically 20-30 characters long and include the merchant's name as well as contact/location details that may include their phone number, URL, city, state, zip code, and country. It's important for merchants to have a good merchant descriptor because this will be what consumers look at when determining if a charge is fraudulent or not. Having a bad merchant descriptor could mean that a customer jumps to the conclusion that a charge was fraudulent, when it was really their own transaction. Instances like this could result in chargebacks with a "Transaction Not Recognized" reason code, leading to lost revenue for merchants. The most important thing when creating a good merchant descriptor is making sure that the merchant name on the descriptor matches the actual name of the store that consumers are familiar with. This reduces confusion on the consumer's end, therefore reducing friendly fraud chargebacks. Merchants who receive a high volume of chargebacks due to friendly fraud can choose to outsource chargeback management to a company like Chargeback Gurus to learn how to best recover lost revenue from them and how to best prevent them in the first place. Chargeback Gurus helps create solutions for your chargebacks specific to your company's vulnerabilities and pain points, ultimately helping you recover lost revenue. Read the article: https://www.chargebackgurus.com/blog/merchant-descriptor ©Chargeback Gurus 2021 Production: Emily Woodward Narration: Sarah Rife