At Social App Merchant we are always looking at new ways to leverage technology to improve the way our customers operate their business. Daily Deal websites are a big part of our business, and although the industry is in its infancy, we are definitely one of the payment service providers who have quite a lot of experience in dealing with these clients. In previous articles I discussed if Daily Deal websites are high risk, I don't believe they are and that is because I know what the best practices are for ensuring chargebacks are kept in check. And, with all my clients in this space I like to work with them to ensure they are in compliance with these best practices as its beneficial to everyone.
Back to how to leverage technology, we have introduced functionality that allows a daily deal website to pass through name of an actual deal to appear on the credit card statement descriptor, and not just the deal site and customer service phone #.
A merchant descriptor looks something like this:
DAILYDEALSITE
Dynamic descriptor gives the merchant the ability to control the descriptor on the credit card statement of the customer. Adapting this feature to our previous example, we get:
DAILYDEAL*GreenSpa
The “GreenSpa” would be information that the Daily Deal website would be passing with the transaction .
As Daily Deal websites grow in popularity, we are seeing that consumers are making many purchases at the same deal site on a monthly basis. They may see three charges from the same site but may not remember they made those three purchases. Also, they could have purchased several deals across two or more daily deal websites. By implementing daily deal dynamic descriptor (or DDDD - I like that!) functionality, your customers will know exactly what each charge is for. This will reduce the number of call center and email inquiries you receiver as well as reduce chargebacks.
If you are a Daily Deal website and would like to learn more about this, contact me! If you are looking for a processing solutions, we can definitely help there. Take a a look at www.socialappmerchant.com for information
JR
