PreCharge Risk Management Review

Every so often I come across a product or service that’s so ingenious I wish that I would have come up with the idea. preCharge Risk Management Solutions is one such service.

A popular credit card policy for many ecommerce businesses is to only ship merchandise if a customer’s shipping address matches the customers billing address. In the alternative many ecommerce businesses will contact the customer and request the customer to contact their credit card company to place the alternate shipping address on file with the credit card company. Makes sense to the ecommerce business as a fraud prevention method but makes no sense in that most online consumers prefer to have their merchandise shipped to their work address or are making purchases as gifts and would prefer to have the merchandise shipped directly to the gift recipient without having to waste 15-20 minutes speaking to a call center in India. If I’m contacted by a website that I’ve made a purchase through and they make the request or simply refuse to make an exception I simply cancel the purchase. Many ecommerce businesses face the same situation daily. How do they cater to the needs of their customers while also protecting themselves from fraudulent transactions? Luckily preCharge provides the solution.

The preCharge Certified Payments Program provides ecommerce business with guaranteed chargeback protection. If they approve an order that results in a fraudulent chargeback (merchandise purchased with a stolen credit card) they reimburse the full ticket price and the merchant chargeback fee. preCharge Risk Management provides ecommerce businesses with the ability to increase revenue by shipping to non billing addresses through their Certified Payments Program. preCharge has been in business since 2003, is PCI compliant and Level 1 Visa Certified. They have an A rating with the Better Business Bureau and is recommend by Merchant911.org, as a trusted service provider.

Merchants have the option of integrating with preCharge’s software or manually inputting orders through the preCharge.com secure web site. Average turnaround time for an order to be reviewed is approximately 1 hour although orders can take up to 24 hours to be reviewed. In the event a merchant receives a fraudulent chargeback the merchant simply submits a preCharge claim form, proof of shipping and the chargeback notification to the claims department. Claims are normally paid within 14-30 days, can take up to 45 businesses days and in extreme circumstances can take up to 180 business days. However, and most importantly, the company pays the claims.

preChage is compensated through a transaction fee and a warranty fee. They charge a transaction fee for every order that is submitted for review and if they approve the transaction they also charge a percentage of the ticket price. The pricing is merchant specific and depends on the average ticket size, the amount of orders the merchant will be submitting and whether the order is domestic or international.

That’s right, preCharge also offers verification services on international transactions as well. Many ecommerce businesses require payment by wire transfer and will not accept credit cards from international customers. Many ecommerce businesses will also only allow international customers to pay through third party payment providers. By accepting credit cards from international customers preCharge clients are not only more profitable but are able to capture business the competition isn’t. They offer verification services in over 200 countries worldwide.

So if you if you think the service is too good to be true you wouldn’t be alone as I wondered the same thing myself. That was until I told a friend about the service and he reported back to me after a year of using the service. They allowed him to use the service at no cost or obligation before he signed on as a client. It’s been a year since my friend signed on as a client. He has never filed a claim and is doing three times the amount in revenue he was doing previously.

If you’re an ecommerce business owner that sells tangible goods and does not ship to non billing addresses you owe it to yourself and your business to at at least try the service. It will cost you nothing to investigate a relationship and could make you more revenue if you sign on with them. Visit them at www.precharge.com or call 877-751-6213. If you choose not to contact them to at least inquire as to whether the service is right for your ecommerce business well stupidity is contagious.

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17 thoughts on “PreCharge Risk Management Review

  • afshin

    preCharge is refusing to pay my claim on a $2,400 chargeback that we had. I have read other reviews that say they are ripping people off.

    They are non-responsive also to my emails and calls. Every time I call, the support staff is supposedly in a meeting.

    Complete rip-off! I would not trust pre-charge!

  • KnowItAllKnowItAll Post author

    Is preCharge refusing the claim due to friendly fraud, meaning that a customer who actually received your merchandise is committing fraud by stating they did not receive it?

  • Anthony

    Lame. I have been with them for four years. If they denied a claim, there was a reason. If you disagree, appeal.

  • Carlia

    I’ve been a merchant for six years now, anytime a claim was denied, I appealed and it was overturned. Amazing service.

  • Patrick Hayden

    Watch out for over charges with this company. They will overcharge you, and then it takes an act of congress to get a refund. This is a problem with this company, as noted in their BBB file, user/Buyer Beware!!!!

  • Joeseph

    Signed up with precharge.com over a year ago. Never had an issue and always received credits to my cbs. Overall, dropped cb’s by 60% and increased approvals by 50%. No issues so far.

  • Anthony

    Support definitely sucks but can’t beat the service. Been with them since 2009 and the results speak for themselves.

  • KnowItAllKnowItAll Post author

    The ripoffreport.com complaint is from 2011 and the bbb simply states that there were 5 complaints in the last 5 years all of which were closed. Just like any business you can’t make every customer happy but since PreCharge has been in business since 2003 I would still say it’s safe to say that they do what they say they do.

  • John P Pratt

    People should know that Precharge has a judgment against them for over half a million dollars and Alex Corral owes my company $28,000 from a deal where he sold us a bogus debt portfolio for $30,000. Feel free to contact me at john.pratt@pmg-solution.com. Let the buyer beware.

  • Alex Corral

     A lie will reach across the internet before the truth has a chance to wake up, case in point with John Pratt.

    1) The deal was made with his son Jason Pratt, not daddy John, who was not part of the deal. I guess his father realized his sons incompetence.

    2) Not sure if little Jason told his father the truth or John is just flat out lying BUT the portfolio was not only delivered but was delivered in excess of what was purchased. This can be verified with the third party it was delivered to.

    3) Maybe if kid Jason wasn’t having dinner with the prince of whatever country or president of whatever country, could never keep up with his delusions, he would have taken the time to review the portfolio, instead opts to being in daddy. We worked with D&B for years on the same collections and never once had this problem.

    4) I’m not marketing anything nor is it relevant but no longer with preCharge as of this year, as for the address, like many companies we used a virtual office. As for Wyoming, not that it’s relevant but can’t comment on things post my tenure. Of course daddy was told all this, guess old age is kicking in.

    5) I kept in contact with both father and son from day 1 and have the emails to prove it, the fact that daddy wishes to spend his time spreading lies is just silly but I guess with nothing better to do. I’d say sue but he’d have to have a case to do that which would expose the fact that the portfolio he purchased was delivered.

    6) Daddy had opted to slander me rather than take a legal route going after the company which received the funds, not me because he feels trying to slander me will yield anything but no one who works with me or had would believe the lies so good luck with that.

    7) Fortunately I’ve spent my life combating criminals so am very familiar with Johns behavior but it’s sad as to justify his failed collection agency, guess when you try to do business with bottom feeders, it’s to be expected. My guess is they won’t pursue the company and simply continue to slander me with their lies. What can one expect from someone who’s spent his life trying to collect $100 from innocent victims for something they paid pennies for, guess they missed that part in the disclosures?

    8) When I first started working with daddy, had a great deal of respect but come to find it was all lies, I guess I forgot to factor in the collection agency component. Maybe daddy can tap into his mob connections, although that may have just be another delusion by little Jason.

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