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Why chargeback management could help save your business in a multitude of ways

(Image credit: Image Credit: NakoPhotography / Shutterstock)

Recent months have shown that the ability to adapt and stay agile has been a lifesaver for many businesses, as taking advantage of any small opportunity to get ahead can be the difference between success and failure.

And when it comes to success, ensuring your financials are up to scratch is always a vital way to stay ahead - as does making sure you stay safe from security threats.

Covery has been providing customers large and small with its reliable risk management and fraud protection platform helping online merchants around the world. Over its five years in business, the company has analysed over five billion user actions, and prevented 250 million risky actions.

Services such as chargeback management can help your business ensure it doesn't incur punitive fees when bringing new customers on board, whilst also keeping you safe from fraud and other security risks.

Covery offers customers a more affordable method of protection, meaning customers save revenue without losing the quality. The company is able to identify fraud cases in real time, combining threat notifications with all the key metrics and results in a single platform, meaning your business gets all the information it needs quickly.

What's even better is that Covery's platform is customisable for any industry, meaning that whatever your specialty, the expertise to help you succeed is on hand quickly.

Don't just take our word for it - Covery has a range of customer case studies that shows the effect of using its services. 

This includes an ecommerce company that was struggling with the amount of fraud and chargebacks seen when onboarding new customers. The company was able to use a number of Covery's services, ranging from device fingerprinting technology to behavioural analysis tools to IP screening and risk/trust scoring in order to track where it was seeing issues.

Covery was able to zero in on the problem (caused by a malicious competitor) without wasting hours on admin and client calls, and in fact ended all the fraudulent activity.

Overall, the company was able to save up to 70% on its transaction processing fees as well as having its chargeback ratio shrunk to a fraction of its original size - and with financial security more valuable than ever, that's a return not to be sniffed at.

To find out more about chargeback management and more, you can sign up for Covery's upcoming webinar on May 27, where you can join industry experts discussing risk management and anti-fraud protection best practices in 2021.