The post-payment psychological affect
Turning our focus to the Post Payment is already in itself a shift in the way we perceive the business process, that is a mental operation. By looking at the transaction from the point that until now was considered an end point, allows both the merchant and the customer to see things in a new way that leads to more transactions being completed. Generally speaking, we can consider these changes as psychological and they apply to both sides of the transaction:
The main thing we need to consider here are the psychological effects of rejection. If you have ever been in a situation where your card was declined for no good reason, you are well aware of the odd mix of humiliation and indignation that one feels. This is to say that any decline should be well considered as false positives cause serious disaffection and most likely will lead to life time loss of customer value.
FUGU is highly valuable in this area as the tools it offers make it safe to continue working on the transaction while constantly reducing the probability of chargeback and virtually diminishing the possibility of losing a fraudulent dispute as all communications are analyzed and collected and can eventually be turned over as evidence.
From the customer perspective a distinct shift takes place after the payment, when all the steps taken to make the transaction happen are framed as customer care. This is diametrically opposed to the situation before the payment where all these inquiries and challenges are endured as challenges. After the payment the process is at its most collaborative and offering such customer care can go a long way from driving the customer towards the eCommerce giants, who can afford to be less suspicious for a variety of reasons.
The most notable shift that FUGU allows from the merchant perspective has to do with fear of fraud. Fear of loss is well founded, even a small amount of disputes can cause major headaches, beyond the material loss the Credit Card industry can be very punishing towards small and medium operations. This leads to a quite justified fear of chargeback that in turn causes merchants (or gateways) to impose strict rules combatting fraud. These rules more often than not, turn out to be “too” effective causing fraud rates to come down while generating an unmeasured number of “false positives”. These denial are perhaps justified without the right tools like the one we offer, that gives you peace of mind, reducing fraud, while enabling more transactions.