Why Use AMG’s Chargeback Program?
Thousands of times a day, card issuers and merchants identify fraudulent and/or suspicious transactions that have gone undetected by the other party, resulting in fraud losses and chargeback costs to both. AMG closes the information gap between the card issuers and merchants, making this valuable information securely available in real-time.
AMG Alerts is the first service rolled out leveraging AMG’s global network of card issuers and online merchants. AMG’s direct-from-source card issuer data is used by merchants to stop the fulfillment of goods and services tied to fraudulent accounts on orders they are actively processing. AMG Alerts significantly reduces the time it takes for merchants to be alerted of confirmed fraud from the current three to six weeks, to minutes, hours or days! With AMG Alerts, merchants stop chargebacks at the source, reduce chargeback ratios, process more transactions, and reduce chargeback fee
How It Works
Issuer confirms fraud with the cardholder and then sends an advance notification to AMG of an impending chargeback.
AMG: Instantaneously reviews the alert and submits a refund within 24 hours to the issuer.
Merchant: Is informed by AMG of alert and rests easy knowing we are on the job.
Result: Avoid Chargeback, and keep your merchant account!
1. Avoid the financial loss by stopping the fulfillment on goods and services on orders you’ve already accepted and currently processing.
2. Avoid the entire chargeback process. No chargebacks. No chargeback fees. No chargeback processing costs!
3. Dramatically improve the productivity of your manual review team by quickly cancelling those orders confirmed by the cardholder as fraud.
AMG charges a monthly fee of $100 per MID. In addition it will charge $40.00 per alert. The monthly fee will be paid at the beginning of the month, where as, you will receive and invoice at the end of the month for the alerts and your account will be ACH’ed for that amount.