E-commerce stores powered through WooCommerce now have the option to utilize Chargeback's new WordPress plugin to address chargeback losses and fraud.
Chargeback, a provider of technology-driven chargeback reporting, responses and alerts, says its plugin for WooCommerce will help developers and store owners limit card-not-present disputes.
Citing market share data from Datanyze, Chargeback says one in every four websites in the Alexa top one million uses WooCommerce, meaning those sites carry a large share of card-not-present disputes.
Those disputes are forecasted to reach more than $15 billion by 2020, or twice the volume of card-present disputes, according to South Jordan, Utah-based Chargeback.
The key aspect of the Chargeback tool is its ability to identify and directly address the core of a customer's complaint.
"If a WooCommerce store receives a chargeback on an order shipped to a business address, they're typically inclined to inundate the issuing bank with authorization details showing the purchase was not fraudulent," David Adams, chief product officer at Chargeback, said in a June 1 press release. "In reality, the only data actually required to respond to — and win — the dispute is proving the customer was employed at the business location at the time of delivery."
Once combined with Stripe, Braintree, PayPal, Authorize.net or other payment gateways, the Chargeback plugin tool identifies and compiles information on card networks' rules and regulations as needed to create a "winning" chargeback rebuttal, Adams said.