What is the TGOV?
The TGOV (Transaction Guard Order Verification) report is an essential tool created to fight chargebacks and protect your business’ profits.
It is an unfortunate reality for all you online retailers out there that the more activity, sales, visitors and prosperity your website receives on a daily basis, the higher the risk of you receiving fraudulent orders. In turn, this increased chance of fraud means an increased risk of chargebacks and the undesirable work of returning funds to your customers.
“Friendly fraud” makes matters even worse, where “buyers remorse” or a systematic abuse of the chargeback system sees unscrupulous buyers buying products and then issuing chargebacks via their bank once they have received the product. An end to chargebacks should be one of your top priorities and this is where the TGOV report steps in.
What Does the TGOV Do?
When a bank issues a chargeback you need as much documentation regarding the transaction as possible to back-up your claim that the order in question is, in fact, legitimate.
Provided with each transaction, the TGOV contains every single piece of information that you need to fight chargebacks, whatever the reason you receive them from the purchasers name, location and IP to ISP prove that the purchase was valid and to prove that you, the merchant, have Anti-Fraud measures in place to combat fraud.
To make chargebacks a thing of the past and to ensure that your hard earned money stays safe, you need the TGOV.