ST. PETERSBURG, Fla.—Payment processing firm MobiusPay Inc. announces that it has added Visa’s Order Insight, a platform that connects cardholders, merchants and issuers to resolve billing confusion and disputes in real-time, to the Mobius Dispute Resolution Service.
MobiusPay founder and CEO Mia Hyun stated, “MobiusPay has long understood that most chargeback disputes would probably be resolved if the buyer took the time to contact the merchant before contacting the bank. Unfortunately, few buyers reach out to the merchant until after they have started the chargeback process. By that time there is very little the merchant can do other than take the time to fight it or accept the chargeback and the accompanying fees.”
Hyun added, “We have invested lot of time and money building our new platform that is directly integrated to Visa’s issuer platform—Order Insight. This system allows the issuer’s inquiry of a merchant’s transaction to be answered in less than one second, thus clearing up any questions or concerns from the issuer thereby preventing chargebacks from occurring.”
Frequently chargebacks are initiated because the consumer does not recognize any of the details provided on their credit card statement. Order Insight eliminates confusion by providing details directly to the consumer, such as the time, date and place of purchase as well as the device used to make the purchase, in the case of online sales.
The way Order Insight works is when a consumer contacts the credit card issuer about a charge they do not recognize, the issuer will contact Order Insight, who will then contact the seller, who will in turn provide the sale’s data to Order Insight. This information will be passed along to the issuer who can then review it with the consumer, and hopefully prevent the chargeback.
Advantages to Order Insight include real-time data communication between card issuers and cardholders, the automatic shutdown of certain complaints before they become chargebacks, and instant fraud notification.
“MobiusPay has a well-established direct connection with Visa and is not a reseller,” explained MobiusPay COO Jonathan Corona. “While many other processors are actually resellers of services provided by another company, we have found there are major advantages to having a direct connection with Visa. We’ve engineered and built the MobiusPay platform to help our clients integrate with their gateway via fast and efficient API automation.”
For additional information, visit MobiusPay.com.
