The chargeback process is meant to increase consumer confidence. It makes it easy for cardholders to dispute charges. When chargebacks occur, they can cause losses in revenue and tarnish a company’s reputation with credit processors. Chargeback prevention may seem daunting at first, but it is an essential task to help maintain revenue, and protect yourself
Friendly fraud is a costly threat to all online merchants and others that accept card-not-present transactions. Unless merchants take steps to reduce this type of fraud, they are risking both their reputation and their revenue. What is Friendly Fraud? Friendly fraud is often called chargeback fraud because it involves consumers abusing the chargeback process at
What is Representment? Each time a cardholder initiates a chargeback, the merchant has two options– accept and pay, or fight. When a merchant chooses to fight chargebacks, they enter into a process called representment. Chargeback representment is the merchant’s chance to address the disputed charges by collecting and providing compelling evidence that proves the transaction
Many merchants think of chargebacks as an unavoidable cost of doing business. However, chargeback prevention is an essential task to help maintain revenue, and protect yourself against future chargeback disputes. Below are some effective chargeback prevention strategies and tools that you can implement immediately to help your return on investment. 1. Maintain Your Product Make
We know, as a merchant, you try your best to provide swift and attentive customer service, and exceptional goods and services. It may seem like consumers have no valid reasons to file a chargeback, but they still happen. With chargeback disputes favoring the customer over the merchant, it’s not easy to prove your innocence, and
If you’ve spent any time in the world of payment processing, you’ve no doubt heard the term high risk merchant accounts being thrown around. A lot of people use this terminology not fully knowing what it means. Let’s clear that up today! Deep Dive Into High Risk Merchant Accounts The layman tends to hear “high
With so many chargeback reason codes, it’s no wonder people can’t figure them out! There are so many reasons a consumer would initiate a chargeback, and chargeback reason codes cover just about all of them. However, it’s not always that simple – of course! Chargeback Reason Codes – Macro View It seems like everybody from
As if chargebacks weren’t already a difficult enough problem to solve, as a business owner, you’re now having to deal with chargebacks and the IOT (Internet of Things). If you’ve visited any tech sites, or frankly made a purchase within the last 2 years, you’re already well aware of the Internet of Things and smart
Chargeback management. It’s a problem, but all business owners that accept credit cards have to deal with it. However, there’s an easy way to handle chargeback management, and there’s the hard way. The TLDR version looks like this: Easy way: automation, software, technology, chargeback management service provider Hard way: manual labor, outdated processes, call centers,
If you’ve ever tried to figure out chargeback time limits, didn’t get very far, and gave up – you’re not alone! These chargeback time limits, or timelines/deadlines, are complicated to say the least. There are so many different numbers to keep in mind, but hopefully we can simplify this complicated landscape for you here to
