Chargebacks Works As Leeches!!

Hahaha!!! Truly don’t you guys think chargebacks sucks a lot. It actually squeezes the profit away from your pocket and drains out the losses. Commonly take a deep breath Chargeback Expertz is here to solve your problems in just one go.

Reduce the Number of Chargeback

First of all, a merchant needs to reduce the number of chargebacks in his enterprise and this is one of the biggest challenges for a merchant.

•If a merchant exceeds the minimum chargeback ratio then the enterprise will be subjected to a fine.

•The first thing to consider is that different card networks use a different method to calculate 

Chargeback Ratio.

•A chargeback ratio is simply a ratio of number chargebacks to the number of transactions.

Fight a Chargeback

The merchant is always directed to refund the chargeback and not fight if they have not crossed the chargeback limit. But this isn’t the case when the fraud is huge. Fighting a chargeback is not as easy as it sounds.

•When a merchant decides to fight a chargeback, it automatically becomes a chargeback challenge for the business.

•In order to fight a chargeback, make sure you have the pressing evidence for your claims.

•Contact an expert if you need it.

•It is recommended to monitor all your transactions and keep the billing details. These details can be really beneficial to the case.

Kick Off!!!.

Yeah!!! Kicking off the Leeches out chargebacks are the worst. Do not worry Chargeback Expertz are there to solve your problem efficiently. Contact us on:

EMAIL: app@chargebackexpertz.com

PHONE: +1 855-465-4723.

Sync Between Chargebacks And Time.

Every merchant should have a back- up plan for everything in every day working. The merchant should have his arms full of weapons once the chargeback hits you or backfires you.

Chargebacks are the most irritating things which a merchant hates the most. Chargebacks should be treated in the manner so it should not create chaos in the company’s working.

 Saving Time From Chargeback Response.

Disputes are data centered and they need a collection of transaction data and receipts. Merchants are vulnerable if they do not have clear documentation available to resolve the chargebacks and submit the responses.

1. Waterproofing The Cases.

Every chargeback will demand different evidence and data that is tied to the reason code with the dispute.

• Display the cardholder’s satisfaction with the product or service.

• The product was being used, despite the dispute claiming it never arrived from shipping.

2. Keeping the Information Ready.

 Keeping minute details come in very useful when making a sale.

It may be irrelevant at the time of trade but when the chargeback comes the small detail is probably the best asset you could have.

 You should support your case with phone logs, email correspondences, and any additional information that validates the cardholder’s identity and shows that he was aware of the transaction.

3.Terms of Service and Refund Policy

Providing proof that cardholders have agreed to the terms yet did not follow comes in handy when it comes to returns or refunds.

4. Successful Transmission:

 Once the response is complete, you will have to get this information to the processor or the acquiring banks through various verticals. Many acquirers need responses to be sent via email, but most banks receive responses through fax or the internet. Ensure that the text, fonts, and images are clear enough or the transmission would be considered incomplete.

Chargeback Expertz will fight against the chargeback and will fight the chargebacks on time hands full of proof and assistance from the well-experienced people who won’t let you down. Contact us on +1 855-465-4723 or mail us at app@chargebackexpertz.com.

You Have To Have Big Ears And A Small Mouth To Avoid Chargebacks.

Yeah, true a merchant should always have a healthy talk with their customers so to build a healthy bond between them. It's not only about selling the product or giving away the services it's about building up the bond with the customers so that a customer can easily approach to the merchant for any assistance and queries, this will anyways help merchants to reduce the chargebacks.

How To Play Psychologically To Reduce Chargebacks

Not only earning, but a merchant should also give more importance to the after selling process. Chargebacks start after the product gets out from the workstation.  E-commerce faces these shortfalls a lot.

Merchant’s Should Follow These Tips:

1. Always Be On Toes.

 As a way of improving customer service, it will be good if you can be available 24/7. This means that even outside of office hours, you must be able to provide customer support. You can consider having phone lines that are available 24/7.

 By being able to respond quickly to the queries of your customers, it will be possible to eliminate any hesitation that can be possibly present on their end.

You must be able to provide them with a channel to voice out their concerns and to be assisted in order to stop chargeback. There are instances wherein customers can make impulse purchases.

On the other hand, if support is immediately available, they can be provided with the clarifications that they need, and they will be less likely to request for a reversal.

2. Provide Sufficient Descriptions

This will help to keep your customers to be fully informed, and hence, will increase the possibility of being able to stop chargeback.

If you are selling a specific product, as a way of providing exceptional customer support, make sure that proper descriptions are provided.

 When they receive the product, this will minimize the likelihood that they will be unhappy and will prevent them from requesting a chargeback.

3. Best Is To Communicate.

This is another way of improving customer service for the purpose of being able to stop chargeback. Once they have placed their orders, follow-up communication will prove to be necessary at the end of your business.

Inform them about the status of their orders and delivery, especially if there are any delays. This will minimize the likelihood that they will reverse the transaction.

A strong customer support team will be necessary to foster better communications with customers.

Chargeback Expertz :

 Chargeback Expertz helps the merchant to deal with customer handling with the prior notice and how to reduce the chargebacks on this basis. Free yourself with the bond of customers stress. Call Us at +1 855-465-4723 or mail us at app@chargebackexpertz.com.

How To Maintain Fluency In Business By Chargeback Updates?

Merchant usually gets tensed in April and October because the major card network updates at this time and these updates are painfully for the merchants. Every merchant needs an update in and to expect that update a business should have a bearing capacity for that.

Outdated means out of the race, so a merchant has to expect it anyhow.

Changes in Terminologies

We all know that the chargeback is difficult to deal with, sometimes this due to the terms that been used. The Chargeback Updates impact on Business starts with the change in terminologies. Here are some examples.

•Chargebacks are now called Disputes. Visa has made this change in the recent update, although you can still use the term chargeback.

•Representment as Dispute Response. As you can see, the new term “Dispute Response” is clearer and easier to understand.

•Transaction Enquiry – Once the customer initiates the chargeback, a transaction inquiry needs to be submitted to the VROL (Visa Resolve Online).

•Allocation – This new method to resolve the chargeback. When a dispute is initiated, the Visa first checks the internal data without directly go and file the legal charges.

•Collaboration – Dispute resolution model. Here the merchant is given with a chance to respond to the dispute with compelling evidence without being fined.

Method to Handle a Dispute.

There is also a change in the dispute response style. The Visa Claims Resolution or VCR has a dispute flow to resolve it quickly and efficiently. This how the dispute flow takes place:

•After the cardholder initiates the dispute, the issuing back gets the notification first.

•Then the issuer takes the dispute request and forwards it to the acquirer.

•The acquirer then submits the chargeback to the merchant.

          o  Either accepts the dispute and gives back the refund.

          o  Or fight against the dispute by providing the compelling evidence.

•Arbitration and Pre-arbitration flow are possible.

There more such changes made to strengthen the dispute reversal method. Moreover, some new reason introduced along with an update in the older ones. You can reach out to the chargeback Expertz, to get more details related to Chargeback Updates impact on Business.

Contact the chargeback Expertz, to get more details about the recent and upcoming updates. Also, get tips related to chargeback management and chargeback lawsuit. You just need to place a call at the toll-free number +1(855) 465-4723 or reach us via Skype.

Fly High-Prevention Guideline For Airlines.

The Airlines industries fall under the high-risk business. Hence, it gets really difficult to get the merchant account for Airlines businesses. if you have at least 6 months of records or good processing records of the previous business then the merchant account service providers will be happy to help.

Planning Business Into A Productive Outcome.

For having a proper settled business, a merchant must have a strong base where he/she can take the business into new and a developed platform.

Planning and execution are very must as stated above Airlines are the high-risk business for which a merchant has to look after a lot of things.

Here are the noteworthy factors that can affect your Airline Business:

•Understand the Credit Card processing risk and try to prevent it.

•Use the best practice to manage payment processing.

•Get a risk management program, if needed.

•Deal with Customer Disputes more efficiently.

•Offer 24/7 Customer Support.

Keep An Eye On The High-Risk Bookings

You can easily detect and avoid frauds before it happens with the help of this list. Here is the list of characteristics that can help you separate the high-risk bookings from others.

•Customers who are not frequent service users.

•The difference between the date of booking and the date of travel is less than 6 days.

•Tickets did not receive cases such as E-Bookings.

•First Class or Business Class bookings for new customers.

•Finally, the Third-Party Purchase.

 The fraud is not necessary, but you can try some preventive measures to avoid any. Continue reading for more tips on Credit Card Fraud Prevention Guidelines for Airlines.

Credit Card Fraud Prevention Guidelines for Airlines – Chargeback Expertz

Here Chargeback Expertz the troubles get assassinated easily, problem-solving in a quick pinch of time. We can help you avoid and reduce the number of chargebacks to earn more profit. Credit Card Fraud is increasing these days and we can help you avoid such issues.

Call now at the toll-free number+1 855-465-4723 or try the 24/7-email support. You can visit the chargebackexpertz. command read more informational blogs related specifically to your issues.

Prevention of the merchant account on chargeback point of view.

Chargebacks aren't random acts of nature that come out of nowhere. Chargebacks happen for reasons, and merchants can learn a lot about the chargebacks they're incurring when they take the time to analyze them deeper.

Chargebacks are the most awful thing which a merchant always fear about. Maintaining and analyzing it at a very early stage is quite difficult for a few merchants.

Identify Root Causes of Chargebacks.

In order to start with chargeback prevention, you need to identify the factors causing excessive chargebacks. Here are some common factors that can lead to a chargeback.

•Customer Support – Make sure you offer good customer services. This can reduce the chance of friendly fraud. Also, with good and efficient customer services, the trust of the customer also increases.

•Credit Card Related Issues – Finally and most importantly, never complete a transaction without proper authorization and check whether the card is valid or not.

•Follow Card Network Rules– Different Card networks have different sets of rules to manage and handle chargebacks. If a merchant is found ignorant of them then it can cause him a heavy loss.

•Delivery Issues – If you have a business that also offers delivery service for goods then you need to put extra attention to it. Any mistake causing a delay in the delivery or harming the goods can lead to a chargeback.

•Terms and Conditions – If your customer is not well aware of the terms and conditions then make sure to inform your customer prior the payment is made.

What Happens When Chargebacks Exceeds.

There are always, different card networks they have different sets of rules to manage chargebacks. However, when it comes to excessive chargebacks most card networks have the same set of rules.

Visa Chargeback Monitoring program:

Every merchant is allowed a 1% chargeback rate each month. On exceeding this limit, the merchant is put under the Visa Chargeback Monitoring Program.

If the merchant does not show any improvement then the merchant is charged with a heavy fine. And, it continues for several months, the merchant license can also get revoked.

This is why every merchant is asked to reduce and manage chargeback for the good of their business. Along with the tips to Identify Root Causes to Prevent Chargebacks, you should also know about the negative effects of excessive chargebacks.

Prevention It is Better Than Cure.

There are number things that can cause chargeback and these can easily be reduced. Here are some methods that you can try to Identify Root Causes to Prevent Chargebacks:

Customer Experience – When you start analyzing your business, put your first thought on your customer’s experience. If for any reason your customers are not satisfied with your services then you need to mend it. This issue can lead to chargeback and many other issues in your business.

Product Marketing – Are you overselling your business? If yes, then you need to stop right away. Overselling can lead to disappointed customers because of unrealistic expectations.

Use Secured Machines for Transaction – If you use credit card machines to take payment from credit cards then you need to make sure that these devices are secured.

Credit Card Authorization – All card networks have different reason codes to handle chargeback caused due to inappropriate authorization. If you are a merchant and do not have the authorization to make a payment then don’t do it.

Other than these, you can closely analyze your business to find the reasons leading to excessive chargebacks. You can also hire an expert to help you Identify Root Causes to Prevent Chargebacks.

Chargeback Expertz will find a way out for you in any obstacle you face. For further details please contact +1 855-465-4723 or mail us at app@chargebackexpertz.com.

Figuring Out What Is Visa Reason Code-53.

 Upset customers are the one which actually affects in the near future about our Company’s image. Mouth to mouth publicity is the one which actually affects the merchant somehow.

Visa Chargeback Reason code 53 is based on claims from card owners that the merchandise was defective, or not the same as on the online store. There are multiple claims such as merchandise is not what’s on the sale receipt, merchandise is not the same as describing during telephone transaction, or the merchandise was shipped, but it was defective or damaged. Reason code 53 can also be classified based on the following claims made by clients.

1.          Inadequate for the purpose which it was sold for.
2.           It is not what described, the transaction The receipt and the product description on the website are different.
3.       The product was damaged or defective.

 Customers can file complain if they have proof that they contacted the merchant to resolve the dispute.

Preventing Reason Code 53

There are many tactics that you can use to prevent the reason code 53.

1. Mention product description accurately. Keep in the consideration that sometimes marketing tactics are the cause of chargebacks. There should be an honest description, and never to mislead the client intentionally for gaining profit.

2.Ship merchandise that is displayed on the website. Regular reviewing and careful handling procedures may cut human errors, and prevent chargebacks.

3. If there is faulty merchandise, then issue a credit immediately. If a customer wants to send merchandise, the merchant can reply that credit won’t be sent until the merchandise is received.  If you ignore the issue then the cardholder will surely go for chargeback, so answer all the queries and offer full support.

Sometimes merchandise incurs damage during shipment, which is unavoidable. There are some reasonable steps that can prevent such things. Merchant’s first priority should be to ensure maximum customer satisfaction and zero chargebacks.

Chargeback Expertz has got well-experienced hands in this field for so long and we have got amazing customer’s who are still associated with us. Call Us at +1 855-465-4723 or mail us at app@chargebackexpertz.com.

What Is Cancel Re-occurring In | Chargebacks.

Visa Chargeback Reason code 41 results from the cancellation of recurring transactions. You should know that many major companies have their own chargeback reason codes, these help merchants understand why chargeback was implemented. Code 41 can be initiated because of multiple reasons, here are some that merchants should know.

Chargeback -41Reason Code 



• When the transaction amount is higher than the authorized dollar amount.
• The merchant had to notify the cardholder before processing, but the notification wasn’t sent to the cardholder.
• If cardholder files a complaint to the card brand saying that it was notified to the merchant to cancel the transaction, or account was closed but the merchant still billed cardholder.
• The merchant exceeded the pre-authorized dollar amount range and did not notify the cardholder in writing within ten days prior to processing the transaction.

How To Prevent These Reason Code?

Of course, your goal should be dealing with the causes for Reason Code 41, rather than sorting out its consequences. Here is what you should be doing to prevent this type of chargebacks from occurring:

1. Honor customer cancellation requests.

   All cancellation requests should be processed quickly. Send a notification to your customer that her                               recurring payment plan has been closed. If any amount is still due up to the date of cancellation, request                     payment for it, but do not process a recurring one.

      2.   Enroll in the Visa and MasterCard account updater services.

ü  These services keep the card account information you have on file for your customers current, which helps prevent declines and chargebacks.

ü   For example, if a new card was issued to your customer, it would have a new expiration date. If the information is not updated and you try to process the transaction, it will be declined.

ü   As customers rarely bother to update their card information on file for recurring payments, your best option for keeping it current is the automatic updating system.

ü  Not all processors support the updates, so be sure to ask them for it before signing the processing agreement.

      3.   Process credits promptly.

 When you receive a cancellation request too late to prevent the most recent recurring payment from posting, quickly process a credit to your customer’s account and notify her that you’ve done so.

These are the few thumb rules which a merchant should do after he has been charged back with this reason code.  It's more beneficial if the merchant asks for assistance from the service provider to maintain this dicey situation.

        Do Contact ChargebackExpertz on +1 855-465-4723 or mail us at app@chargebackexpertz

Naaahh!!! Chargebacks Are Not Your Cup Of Tea Now ...

To run a successful business a merchant has to look after many things. Management in all fields such as raising funds, managing staff, and product quality and most importantly managing his/her cash flow.

CASH FLOW.

Cash: We call this as the base of the firm right?? Intangible thing but yeah plays a major role to regulate the business.

What if your cash gets stuck somewhere called chargeback??

Sounds irritating right? Chuck it!!

We are here to fight for you for your money yeah happily yes!! Chargebacks are really a big hurdle in your success.  

What are Chargebacks?

Chargebacks are the transactions which are raised after the disputes. These disputes are raised after different transactions held on their credit cards.

Why??

Merchant never earn for paying chargebacks, right?? So, why to waste money into that. Maybe at times its merchant’s fault by sending the defective goods or it’s just a fraud case.

                                              

Reason for Chargebacks?

There are few reasons which a merchant needs to go through, so to avoid the chargebacks easily.

Goods or Services

•Goods not delivered or defective goods received.

Customers will fire you back if they receive the wrong product against their purchase. So, its a merchant’s duty to keep the receipts and track the goods you have shipped. This will create evidence to win the case against that.

• Plastic money issues

Unofficial mail or telephone transactions.

Everybody needs things for free. Apparently yes, customers will straight away deny that they had made a transaction on call or on mail.

Make sure if your business segment follows this routine for completing a transaction, avoid to have a call, have evidence such as customers address and the CVV2 of the card.

•Invalid credit card or account number.

The system of the merchant should be updated and hence, they should figure out the card of the customer is expired or invalid. These are a few keys from which you can actually work on it. Professional assistance may help you to grow much healthier into your business.

About the Author

This article was written by The Chargeback Expertz, a US based company giving you superb Chargeback fighting assistance against the customers. In recent years, the types of Chargeback Expertz have become increasingly varied in their features, pricing, and cost efficiency. Chargebacks Expertz is willing to help you out with your problem and take you out from the bad experiences you had to date.

Contact us on: +1 855-465-4723 or mail us at app@chargebackexpertz.com.

Why Chargeback Report Is Necessary.

After you have hired your chargeback processing company to fight your credit card chargebacks, you have started to focus on running your business.

Now, take the time to understand the importance of a chargeback report. Gaining this knowledge will help you determine if you hired the right chargeback management company for your business.

What Is A Chargeback Report?

A chargeback involves various parties- Cardholder, Merchant, Issuers Bank, Acquirer Bank, and Card Network. A chargeback goes through the system of each of the entities mentioned above.

This is when you need the Chargeback Report. A chargeback report contains the flow of money and mentions the stage where the things went wrong leading to a chargeback. A merchant can create his own database logging the details of each chargeback that occurred in the business.

Importance Of Chargeback Report –

When it comes to business, the data and services are needed to be organized. This is because one needs to keep a record of everything from revenue to product to the number of chargebacks. If you have a business that accepts credit card payments then there sure will be some chargebacks.

This is how chargeback experts help merchants to minimize the number of chargeback in their business. If the data from chargeback report is assembled and filtered carefully, it can actually result in merchants to:

•  Prepare Chargeback Alerts
•  List Win-Chargeback Report
•  Calculate the Number of Representments resulted in merchants favor
•  Report the number of days of a month rich in chargeback
• Identify merchant errors
•  Review the risk causing factors
•  Identify areas offering most profit and loss

·         Identify the most common chargeback reason codes in the business.

Once you start, the techniques will start building up automatically. And, with the constant approach chargebacks will not scare you anymore.

If you want then you can ask experts to assist you. For such services, contact Chargeback Expertz at the toll-free number +1 855-465-4723. We also offer assistance to the merchant with the Chargeback Representment and Chargeback Management.

Yes!! We are Chargeback Maintainers.

At any time, customers can file a chargeback under any reason code. Chargeback not only effects profits but also, the image of the business. Lesser the chargeback ratio better will be the reputation of the business. We, at Chargeback Expertz, provide tools and technology that prevents chargebacks and in case, you get one, we will help you fight that chargeback.

Causes of Chargebacks

Chargebacks can occur due to various reasons, but the most common ones are as follows:

•       Item not received
•       Item received is not as described
•     Unauthorized transactions

Chargeback Process

When a customer files a chargeback, this is done by opening a dispute and asking the issuer to reverse the charge. The Credit Card Company will contact the merchant’s bank who will notify the merchant regarding the same. Detailed analysis and strategies are required to win a chargeback dispute. Chargeback Expertz provides the merchant with the management tools to achieve substantial results.

What Is The Strategy We Follow To Maintain Chargeback?

•          Identify the source so that appropriate prevention techniques can be applied.
•          Management platform that audits, review and reports alert.
•          A customized action plan to reduce risk and chargeback issuance
•           Challenge faulty customer behavior and friendly frauds

  At Chargebackexpertz, we provide effective strategies for our clients to find the chargeback source, manage them and fight them in the most efficient way. The three major chargeback sources are:

•       Merchant error
•         Criminal fraud
•        Chargeback fraud

We majorly work just to see your smiling face constantly. Be a part of chargeback expertz contact us at +1 855-465-4723 or e-mail us at  app@chargebackexpertz.com

Yes!! We are Chargeback Maintainers.

At any time, customers can file a chargeback under any reason code. Chargeback not only effects profits but also, the image of the business. Lesser the chargeback ratio better will be the reputation of the business. We, at Chargeback Expertz, provide tools and technology that prevents chargebacks and in case, you get one, we will help you fight that chargeback.

Causes of Chargebacks

Chargebacks can occur due to various reasons, but the most common ones are as follows:

•       Item not received
•       Item received is not as described
•     Unauthorized transactions

Chargeback Process

When a customer files a chargeback, this is done by opening a dispute and asking the issuer to reverse the charge. The Credit Card Company will contact the merchant’s bank who will notify the merchant regarding the same. Detailed analysis and strategies are required to win a chargeback dispute. Chargeback Expertz provides the merchant with the management tools to achieve substantial results.

What Is The Strategy We Follow To Maintain Chargeback?

•          Identify the source so that appropriate prevention techniques can be applied.
•          Management platform that audits, review and reports alert.
•          A customized action plan to reduce risk and chargeback issuance
•           Challenge faulty customer behavior and friendly frauds

  At Chargebackexpertz, we provide effective strategies for our clients to find the chargeback source, manage them and fight them in the most efficient way. The three major chargeback sources are:

•       Merchant error
•         Criminal fraud
•        Chargeback fraud

We majorly work just to see your smiling face constantly. Be a part of chargeback expertz contact us at +1 855-465-4723 or e-mail us at  app@chargebackexpertz.com

Chargeback 101 Technology in E-Commerce

The term “chargeback” applies to the process that takes place after a customer or buyer refuses to acknowledge the responsibility for a charge on his or her credit card or does not admit a credit or debit card purchase. This can be initiated by the issuing financial institution as a result of a technical concern like no authorization approval code received. Chargebacks are something every entrepreneur wants to avert, as they can bring about loss.

Cardholders can dispute a transaction or deal up to 4 months after item purchase. This kind of dispute is termed a “chargeback.”

There are lots of logical reasons why chargebacks occur

There are lots of logical reasons why chargebacks occur. Some of the most prevalent is when a customer:

·        Did not receive a product or service purchased.
·        Believes the service or product was damaged, defective or not as described.
·        Does not recognize the charge or business name on his credit card statement.
·        Was a victim of fraud—the credit card was used without consent or permission or even stolen.

Ways to Prevent Chargebacks

Even though chargebacks are costly and unpleasant, they can be averted. The simplest way to prevent chargebacks is always to cultivate ideal practices or measures at the point of sale (P.O.S), which are implemented routinely by all personnel. For instance:

At all times process a refund to the actual card number.

• Never refund by cash or check.
• If credit is due on multiple transactions process each credit independently.
• Use a reliable A merchant processing company.
• Have an effective chargeback management system.

Defending your Business against Chargebacks

When an issuing bank reverses a customer’s transaction due to disputing the charge, you need to effectively challenge the reversal or end up losing the sales proceeds, including any shipping and delivery expenses, and having a chargeback fee levied against you (normally between 25 to 50 dollars per chargeback).

For this reason, you need an effective Chargeback Management system to help you effectively manage chargeback issues. Your chargeback management system should make use of a variety of checks for chargeback prevention, chargeback fraud, and chargeback abuse.

It is also vital for merchants to have correct and comprehensive data of customer bankcard transactions.

Why Use a Risk Management Company?

Chargebacks can cost you a lot of time and money–but it is essential to keep in mind that many chargebacks can be prevented and, in many cases, it comes down to the effectiveness of your chargeback management system.

Having an in-house chargeback prevention team can also be frustrating and costly if you consider everything involved, like hiring additional employees, added workspace, and employee training.

Chargeback Expertz is your solution to the frustration of losses due to chargebacks and the stress of dealing with the everyday drama of consumer complaints and disputes. Chargeback Expertz inviting you with open hands call us at +1 855-465-4723 or mail us at app@chargebackexpertz.com.

Chargeback 101 Technology in E-Commerce

The term “chargeback” applies to the process that takes place after a customer or buyer refuses to acknowledge the responsibility for a charge on his or her credit card or does not admit a credit or debit card purchase. This can be initiated by the issuing financial institution as a result of a technical concern like no authorization approval code received. Chargebacks are something every entrepreneur wants to avert, as they can bring about loss.

Cardholders can dispute a transaction or deal up to 4 months after item purchase. This kind of dispute is termed a “chargeback.”

There are lots of logical reasons why chargebacks occur

There are lots of logical reasons why chargebacks occur. Some of the most prevalent is when a customer:

·        Did not receive a product or service purchased.
·        Believes the service or product was damaged, defective or not as described.
·        Does not recognize the charge or business name on his credit card statement.
·        Was a victim of fraud—the credit card was used without consent or permission or even stolen.

Ways to Prevent Chargebacks

Even though chargebacks are costly and unpleasant, they can be averted. The simplest way to prevent chargebacks is always to cultivate ideal practices or measures at the point of sale (P.O.S), which are implemented routinely by all personnel. For instance:

At all times process a refund to the actual card number.

• Never refund by cash or check.
• If credit is due on multiple transactions process each credit independently.
• Use a reliable A merchant processing company.
• Have an effective chargeback management system.

Defending your Business against Chargebacks

When an issuing bank reverses a customer’s transaction due to disputing the charge, you need to effectively challenge the reversal or end up losing the sales proceeds, including any shipping and delivery expenses, and having a chargeback fee levied against you (normally between 25 to 50 dollars per chargeback).

For this reason, you need an effective Chargeback Management system to help you effectively manage chargeback issues. Your chargeback management system should make use of a variety of checks for chargeback prevention, chargeback fraud, and chargeback abuse.

It is also vital for merchants to have correct and comprehensive data of customer bankcard transactions.

Why Use a Risk Management Company?

Chargebacks can cost you a lot of time and money–but it is essential to keep in mind that many chargebacks can be prevented and, in many cases, it comes down to the effectiveness of your chargeback management system.

Having an in-house chargeback prevention team can also be frustrating and costly if you consider everything involved, like hiring additional employees, added workspace, and employee training.

Chargeback Expertz is your solution to the frustration of losses due to chargebacks and the stress of dealing with the everyday drama of consumer complaints and disputes. Chargeback Expertz inviting you with open hands call us at +1 855-465-4723 or mail us at app@chargebackexpertz.com.