Aspenware and Kount, an Equifax Company, Announce New Strategic Partnership
Feb 2nd, 2022
Aspenware today announced a new strategic partnership with Kount, an Equifax Company and a leader in digital identity trust and fraud prevention. This partnership is designed to help resorts be better able to identify potentially fraudulent transactions, stop them from happening, and avoid costly chargebacks and a diminished guest experience.
Chargebacks have been a growing problem for ski areas, as a result of significant increases in online transactions in the last year. While the surge has resulted in increased revenue, card-not-present fraud followed. This is not unique to the ski industry as an increase in chargebacks is seen far and wide in ecommerce business transactions.
Chargebacks can be very costly to businesses, including mountain resorts. Not only does the resort often lose the money associated with the fraudulent transaction, but fighting these chargebacks can also require manual reviews, additional labor, potential credit card penalties, high transaction fees, and significant operational costs. With the labor shortages mountain towns are currently experiencing, fighting credit card chargebacks is often not top priority especially when, on average, merchants end up being liable for the majority of chargeback dollars.
Over the summer, the Aspenware team took a deep dive into the most common chargeback scenarios our resorts are facing and determined how we can best support our resorts in decreasing and, ultimately, eliminating these fraudulent transactions. Our study concluded that integrating the Kount Fraud prevention system into Aspenware Commerce is the single best way we can help resorts decrease the revenue lost from chargebacks.
“We are excited to partner with Kount, a trusted global leader in payment fraud prevention. Offering a seamless integration of Kount with Aspenware Commerce will prevent costly chargebacks to our resort customers. This means real dollars back in resorts’ pockets and real time back in their days. Resorts can worry less about fraud and can get back to the business of providing exceptional experiences to their mountain guests.” – Rob Clark, CEO Aspenware
Kount is built on the Identity Trust Global Network, the largest data network of trust and fraud-related signals, to uncover the level of trust behind each interaction. Kount drives quick and accurate trust decisions and links signals from payments data, location data, digital identifier data, and unique customer data. From account creation or login to loyalty points redemption and checkout, the Identity Trust Global Network analyzes billions of data points to establish real-time links between identity elements. This analysis returns identity trust decisions that drive the desired customer experience while preventing costly chargebacks.
For Aspenware resorts that choose to implement Kount with Aspenware Commerce, they will be able to:
- Flag transactions as potentially fraudulent;
- Investigate the transaction further, stop it and return to the customer; and
- Decrease time spent disputing chargebacks.
“We are elated to partner with Aspenware in their effort to end costly chargebacks and improve the customer experience,” said Brad Wiskirchen, SVP and GM of Kount, an Equifax Company. “With the power of the Identity Trust Global Network, Aspenware can continue focusing on providing the best on-mountain experiences for guests, while leaving the fraud fighting to us.”
For more information about Aspenware Commerce, visit https://aspenware.com/
For more information about Kount, an Equifax Company, visit https://kount.com
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