Monitoring Open Chargebacks by MID

The Data

Chargebacks start when a cardholder or issuing bank questions the validity of a charge and files an official dispute. Every commerce business inevitably faces them and has to have a system in place for managing them with their payment processors; this typically involves needing to know in real time when chargebacks require action. An easy way to track when new chargebacks occur and how existing chargebacks are progressing through the chargeback lifecycle is with chargeback statuses.

The chargeback status categories as they appear in Peacock charts are as follows:

  • Chargeback open
  • Notification of fraud
  • RFI (Request For Information)
  • Chargeback pending/evidence sent
  • Chargeback won/defended
  • Chargeback lost/accepted

In this use case example, we’ll show how you can monitor changes in your open chargebacks for each individual MID you process transactions through with your payments processors. This can be especially valuable if your payment processor requires you to identify the exact MID that has an open chargeback in order to initiate the chargeback dispute process.

Exploring the Data in Peacock

Custom dashboards in Peacock allow you to create your own curated set of data visualizations, filtered in whatever way makes sense for your business. A primary use case for custom dashboards is creating side-by-side data comparisons; in other words, displaying the same chart, but with each filtered to show different segments of data. This allows you to compare key payments metrics like chargeback rate for different customer groups or areas of your business.

If you have a handful of MIDs, for example, you could use a custom dashboard to view the Chargeback Status Categories chart breakdown for each MID individually, all in the same custom dashboard. This would allow you to compare the recurrence of chargebacks across MIDs, see which specific MIDs have open chargebacks, and know where to look when overall chargebacks seem to spike.

To monitor chargebacks by MID:

  1. Create a new custom dashboard and add as many Chargeback Status Categories charts to it as you have MIDs you want to monitor. If you have a large number of MIDs, you can still add charts for each one, but note that adding over 16 charts to a custom dashboard can lead to slow load times.
  2. Next, you’ll create a new saved View for filtering individual charts in your custom dashboard. To do so:
    1. Click the funnel icon at the top-right corner of the first chart, then click Add New View.
    2. Click the Processor filter, then select the first MID you want to filter by.
    3. Name this new View after that MID and click Apply & Save.
  3. Repeat step 2 to create Views for all of the other MIDs, applying them to each subsequent Chargeback Status Categories chart in your custom dashboard.
  4. Title your new custom dashboard and click Save.

Drawing Conclusions

Consider a situation in which you’ve set up a custom dashboard as described in the section above. You now have a place in your Peacock Service Panel to scan each individual MID for any chargebacks with the chargeback open status. Without Peacock, the only way to do this would have been to navigate to each individual MID within the associated payment processor’s console and view chargeback status data one at a time.

As such, this use case example is fairly simple. You open your custom dashboard on a regular basis to review the data; any time you see a change in the number of open chargebacks, you reach out to your processor directly to initiate chargeback disputes, citing the impacted MID with confidence.