By ensuring that bank cards actually belong to users, you can say goodbye to illegal chargebacks foreverGet a free demo
70% of fraud occurs after the KYC stage. That’s why it’s important to detect risky transactions before they’re processed, preventing chargeback-related losses.
Quit losing money on chargebacks
Reduce chargeback fees & inventory losses by minimizing unauthorized transactions and scrubbing fraud attempts on time.
Safeguard your reputation
Fraudulent transactions harm your relationships with payment partners, and can even lead to account termination in some cases. Chargeback protection helps you remain a reliable partner for clients and businesses.
Stay protected against the most common chargeback frauds: fake or stolen documents, compromised accounts, and social engineering.
Beef up your existing KYC/AML process
Configure which users go through payment method checks
Manage all user data within a single dashboard
The Sumsub SDK requires a one-time integration that’s done in 1 hour, with most clients beginning checks in a week. All further settings are code-free and available in the dashboard
Works on any device
Thanks to Sumsub’s solution, we have zero fraud, which is quite rare in the cash advance sector. Since we can fully rely on Sumsub’s KYC process and risk assessment, we can delegate user onboarding to Sumsub and focus on other areas of our business.
Tell us about your business goals and we’ll come back with a tailored solution. That's how we build solid compliance.
Chargeback fraud (also called “friendly fraud”) is the process of claiming refunds for illegitimate reasons. The fraudster initiates the chargeback process with the bank by filing false complaints and authorization complaints online with stolen cards and bank accounts. Without proper chargeback prevention, fraud can cost companies a fortune in the long run and undermine reputations with payment partners.
Chargeback prevention is a set of verification measures made to thoroughly screen the cardholder and their bank card before a transaction can be made, which can be performed with verification software tools. The purpose is to prevent illegitimate transactions made with stolen bank cards and chargeback disputes altogether.
Chargeback fraud and illegitimate refunds can be prevented with proper bank card credibility analysis and user verification prior to a transaction. Ensure that your new users have legitimate documents and that their bank card matches their identity. By performing this security measure, you fight back against scammers trying to abuse stolen bank cards to issue chargebacks later on, as well as other scams and friendly fraud chargebacks. Sumsub provides a chargeback fraud prevention solution crucial in achieving fraud prevention.