Customer Story

BB LLC

Company: BB LLC
Location: New York, New York
Industry: Jewelry
Employees: 40
Client Since: 2014

Challenge overview:

  • Chargeback threshold exceeded 6%
  • True fraud exceeded 15%
  • Lost over $500,000 due to chargebacks & fraud
  • Over 75% family fraud & friendly fraud chargebacks

Solution:

  • Implemented FPR-360 tool to identify root causes of chargebacks
  • Recommended fraud prevention tool to identify fraudulent orders
  • Trained operations team to spot fraudulent orders & block them
  • Notified customer service team on issues reported by clients & recommended edits to return policy and order cancellation
  • Fought chargebacks using Smart Chargeback Representment

Key outcomes:

  • Recovered over $198,000 in 2015 with a win rate of 73%
  • Prevented over 50% of true fraud chargebacks
  • Reduced family fraud & friendly fraud chargebacks to 49%
  • Reduced product returns & cancellation rate by 15%

Getting Back Their Shine

BB LLC specializes in selling high-end jewelry such as diamond watches, rings, bracelets and more online.

Challenges

When BB LLC came to us in 2014, their chargeback threshold exceeded 6% and true fraud exceeded 29%. Over 75% of their chargebacks could be tied to either family or friendly fraud.  All of these resulted in substantial losses for the company of over half a million dollars.  

"I was skeptical in the beginning considering all the promises made to help us prevent fraud and chargebacks.  I am glad Chargeback Gurus exceeded our expectations."

Enter Chargeback Gurus

The Gurus began fighting chargebacks using Smart Chargeback Representment and implemented our FPR-360 tool to identify the root-causes of chargebacks.  This way, we would not only fight and recover chargebacks, but prevent them from happening in the first place.  Additionally, we recommended a fraud prevention tool to help identify fraudulent orders.

We trained their operations team on how to spot fraudulent orders and put a stop to them.  We also notified the customer service team on issues being reported by clients and recommended making edits to their return policy and order cancellations.

Results

Chargeback Gurus has already reduced the chargeback rate to 3.85% and helped to recover lost revenues of $198,000 in 2015 and $220,000 in 2016.  True fraud has been reduced by 82% already and family fraud & friendly fraud have also been reduced to 49%.  Additionally, product returns and cancellations have been reduced by 15%.

I am very happy and glad to partner with the Gurus.  We are no longer worried about fraudsters or chargebacks.