Dynamic Descriptor
IP Pay’s Dynamic “Soft” Descriptor functionality gives the merchant the ability to modify the statement descriptor on a per-transaction basis. Using this feature, the merchant gains the ability to change this information according to the merchant’s discretion per member type, sub-account, time, service type, business model, type of end-user or however the merchant sees fit.
Dynamic Descriptor serves as an additional customer authentication tool for the merchant. It prevents end-users from the ambiguities of static descriptors which often result in chargebacks.
An ordinary descriptor is the identifying name of a purchase that appears on the end-user’s monthly credit card statement. The descriptor, usually statically preset at the processor level, is the basic information that gets printed on the customer’s credit card statement for a transaction.
A merchant descriptor looks something like this:
SOME MERCHANT – CITY, STATE
Dynamic descriptor gives the merchant the ability to control the descriptor on the credit card statement of the customer. Adapting this feature to our previous example, we get:
SOME MERCHANT*W123123 CITY, STATE
The >> W123123 CITY, STATE << would be information that the merchant would be passing with the transaction to IP Pay.
Implementing a tool such as Dynamic Descriptor heavily reduces the chance of merchants losing out on the sale of a targeted product or service and prevents the repercussions created by excessive chargebacks including heavy fines being inflicted upon a merchant account, account closure and even black-listing.
