Managing Chargeback Ratio With The Management Team.

That’s so true!! Managing things with the expert's effects on the business a lot. Numerous businesses are suffering from chargeback security issues and are struggling to find effective chargeback prevention processes on their own.

The following is lists of benefits third-party chargeback Management Company can provide to help keep businesses keep a check on costly chargeback ratios.

ChargebackPrevention Program:

The best method for anticipating chargebacks is to be told about the issue with enough time to correct the circumstance. Services provided by Chargeback Management Company enable eCommerce dealers to do just that. When you have. A Chargeback Management Company, the client’s acquiring bank tells the service provider of the pending chargeback and the Chargeback Management Company thus informs the dealer.

 Customer Support With Quality

Most chargebacks start on the grounds that the client thinks that it’s less demanding to challenge to the charge to their issuing bank, rather than reaching the dealer straightforwardly.

 A few methods for doing this are by sending an e-receipt quickly after the purchase, giving obviously expressed refund policies, giving following numbers for packages, guaranteeing that your installment descriptor records your customer service telephone number, and by giving reliable 24-hour telephone correspondence for customers who have questions about their purchase or transaction.

Minimize Chargeback With Structure Charges.

•For instance, in the event that you are utilizing repeating charging, guarantee that you convey an email affirming the exchange before it is processed, that way if client’s need to end their membership they can do as such before the charge is run.

•For E-Commerce organizations shipping physical merchandise delivered by Chargeback Management Service providers, don’t charge the card until the item really dispatches. That way if there’s a backlog in your transportation, you won’t see a surge of chargebacks.

Experience And Good Educational Background

ChargebackManagement

The company works with so many Credit card processing companies so for instance if the business does not have enough information about how to deal with their credit card processing company, there chargeback processing company already aware of it very well.

Streamline The process

The process itself has so many things to understand from preparing documents to sending it to correct place.  Chargeback management companies understand it very well that save time, money & reputation of the merchants.

Chargeback Expertz a way much better source where you can get a well expertize hand which will eventually help you to manage the chargeback files. Call Us at PHONE : +1 855-465-4723

Stuck in Cob Web of Friendly Chargebacks?

Yes!! Cobwebs are the worst thing to get out of form, scientifically also and practically also. The same happens with the chargebacks also. Chargebacks are the worst thing from which the merchant is fed up. Chargebacks are the unpredictable, merchant’s half concentration diverts when he sees chargebacks.

Friendly Fraud

Merchants can’t figure out the friendly chargebacks easily, they need special assistance for the same. Merchants work is to have a proper Merchant Account maintaining it through proper backup’s like having a proper Chargeback expert team which can easily identify the threats for their security.

How to avoid Friendly Fraud

You never know what is behind the mask!! People try to cheat the merchant and grasp all the benefits as much as they can. It’s hard to find the person but ya not impossible.

Here are some Keys to unlock the door.

1.Terms at the time if checking out the site:

The major area where you can control fraudulent is by adding up the terms and condition, this will actually let the fraudsters think twice to make any fraud in the future, if they accepted the terms then it’s a time where you can stand in the future for your right.

2. Review the bad customers list thoroughly:

There are always good and bad people which a merchant deals with it every day. Bad is good at times!! As merchant get to learn many things after that, keeping an eye on negative customer list it will help you in preventing friendly fraud-do it wisely.

Before, following the same you should go through the manual of customer laws.

3.Trace the sale follow-up:

The merchant should trace the payment until the delivery and keeping it safe all through. The merchant should cover when and how the product is delivered. Keeping the receiver signature makes their leg strength as it gives the strong proof out of it.

These heads should always run in a merchant’s mind, it’s quite tough for the merchant to balance between the chargeback and maintaining the business health.

The merchant should always look for an expert service so the burden is divided.

Chargeback Expertz not only takes your pain in hand but also helps you in healing. For your assistance we are here, call us on +1 855-465-4723 Or mail us at  app@chargebackexpertz.com.

MasterCard Chargeback Reason Code 4849 - Questionable Merchant Activity

Description

Mastercard has been issued a global liability shift program for ecommerce transactions. A chargeback is filed for this reason when an acquirer bank processed a transaction for a credit card accepted and later recognized in the list of Mastercard violation.

Most Common Causes

The merchant:

• The transaction falls under the Global Security Bulletin of Mastercard.
• The acquirer name, acquirer ID, merchant name and its location are listed in the Global Security Bulletin under Global Merchant Audit Program (GMAP).
• The issue is not resolved within the time frame specified in the procedure manual and in security rules.
• The issuer did not report the transaction under SAFE within the time frame.
• The transaction is not processed within the specified period in merchant agreement.

Evidence Required

• If the first chargeback was correct and the acquirer bank failed to change the dispute properly, the issuer may continue the chargeback with the same reason code originally processed.
• If the acquirer bank lost data file requested submit the form found in the back of the procedure manual and security rules.
• If the situation requires any other reason, the issuer must process the arbitration chargeback using the proper reason code.

Prevention

• Process all the transactions at hybrid terminals.
• If found counterfeit fraud reports it to SAFE product user guide of Mastercard.
• Keep a record in a chip transaction and authorization message request should be approved by the issuer.
• The time frame for these chargebacks is 120 calendar days from the Global Security Bulletin publication date.
• If you’re looking any kind of information Chargeback Reason Code. You’re in the right place. Get more information visit website – Chargeback Reason Code

Exceeds Floor Limit – Not Authorized and Fraudulent Transaction - RC 4847

Merchant was unable to verify the authorization code of the transaction at the time of purchase. A card-not-present transaction occurs when cardholder files a complaint that he/she neither participated nor authorized a particular charge. A card-not-present transaction occurs on a fictitious account number on which owner’s authorization was not obtained. Telephone sales, mail-order, Internet/online sales, monthly subscriptions, recurring and prepayment transactions are examples of card-not-present transactions. Mostly this situation occurs when someone fraudulently uses someone else’s credit card and processes card-not-present transaction without the consent or permission of the cardholder. Sometimes, cardholder does not recognize a card-not-present transaction on his statement because of the invisible, unclear or confusing merchant or product name.

Most Common Causes

• POS device was not authorized for strip-read, online and face-to-face transactions, but only card-read or key-recorded transactions.
• The transaction was not approved.
• The card provided a service code of X2X (Positive Online Authorization-Only), but the transaction was not approved.
• The transaction amount passed the limit from the floor limit that was installed by MasterCard at the time of purchase and was not approved.
• The authorization request was denied or the transaction was made by an expired card.
• If not authorized by Technical fallback and CVM fallback transactions.
• The merchant processed a fictitious account number on which card owner’s authorization was not obtained.
• The merchant processed a transaction card owner did not participate in.
• The transaction is processed on the invalid card using an account number.
• A family member ordered from the primary cardholder’s account without his permission.
• It is also caused by the owner of the card not able to recognize purchase on the billing statement.

Evidence Required

• The merchant should provide the document that business did not need to authorization.
• The merchant may present the document that the cardholder obtained authorization for the transaction amount.
• Providing the amount that was authorized, authorization approval code, and the date of the authorization the merchant should document the incomplete authorization
• The transaction was below the issued floor limit and there was communicate failure to buyer or failure to POS device at the time of buying, the merchant should present document.

Prevention

• Make sure to obtain an authorized approval for all the e-commerce and recurring transactions regardless of the dollar amount.
• Read back the account number, especially for transactions made via phone. Always verify account number so that there are no errors or misunderstandings.

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Chargeback Reason Code - 4831- Account Number Mismatched

The buyer’s bank found incorrect transaction amount or account number mismatched with the posted information with them and the information on the order receipt. The transaction was processed with the incorrect account number, incorrect transaction amount and/or had an error while calculating transaction amount without cardholder’s permission or the merchant altered amount after the order was processed without notifying to the cardholder.

Most Common Causes 
If the merchant

• Entered wrong account number.
• Entered wrong transaction amount for that particular transaction.
• Altered the amount after getting the signature from the customer.
• Made a mistake while calculating the amount.
• Exchanged the amount after completing the transaction without taking permission from the cardholder.
• Increased the transaction amount without getting any consent from the cardholder.

Evidence Required

• Provide documents to the acquirer bank describing the product, the transaction amount and the account number on the order receipt are same as acquired information.
• Accept the chargeback, if account number or transaction amount is different from the order receipt and the information posted.
• If disputed chargeback for the incorrect transaction amount, the merchant should process a new transaction within 30 days from the original date, however, if chargeback already has performed its function never issue a refund for that particular transaction.
• No action needed if the customer dispute chargeback for the incorrect amount.

Prevention

• If the business accepts cards, swipe it or manually enter the account number, however, make sure that the account information is used from the face of the card on the order receipt.
• Ensure to use a standard printer to print the order receipt.
• If the cardholder has signed an order receipt, the merchant should not exchange or alter it.
• If chargeback was imposed on an incorrect amount, the merchant must try to communicate with cardholder to adjust the order receipt to show up the correct amount.
• Compare the key-entered to make sure that the transaction information typed is accurate.

Common Examples

Linda went grocery shopping and swiped her card to make the purchase. She didn’t realize and hit the option “yes” to the question if the amount was correct. Later she tallies her bill and cross-checks the amount to find out that ten more dollars have been added to the bill. She, therefore, goes ahead and disputes the charge with the help of her bank under the Reason Code 4831: Transaction Amount Differs

MasterCard Chargeback Reason Code - Account Number Not on File

When the charged credit card number doesn’t match to the actual card number used by the buyer bank. If the merchant provides documentation such as the print of the credit card showing accurate credit card number, magnetic stripe reading evidence and authorization or proof of credit issued, the chargeback may be reversed. Carefully recording the card number, properly entering key or swiping the card through the terminal can reduce chargebacks.

Most Common Causes

• The transaction was lesser than the applicable limit and authorized offline by the chip. The Cardholder Verification Method (CVM) provides pin signature or doesn’t flash anything if recognized by the card parameters.
• As revealed by Investigation, if appropriate account number was not entered on Electronic Warning Bulletin as prior to the payment to the merchant.
• If transaction recognized and authorized as a non-face-to-face sale and primary presentment was submitted using the correct account number.
• If transaction processed using the retired account number and later received an authorization.

Evidence Required

• Copy of printed Transaction Information Document.
• The merchant bank must provide adequate documentation to verify the presence of the card for the transaction that occurred at the point of Interaction (POI) terminal, which was not authorized at the point.
• If payment was made for an emergency, verify that the transaction was authorized, print authorization screen.

Prevention

• Always check the exclusion file before completing transactions below the floor limit. Most point of sell-out terminals automatically verifies the exclusion file when the card is swiped and the amount is entered.
• Merchant must verify with the acquirer to make sure their transaction-processing system automatically verifies the exclusion file for the under-floor-limit transactions and inform the sales staff to request for an approval if they are ever in suspicion of a transaction.
• Exclusion File transactions for the floor limit should be zero. All transactions require approval, regardless of the amount.

Common Examples

Linda checks her account once in a while. She does one day to find out a large amount of charge on her account that she doesn’t recognize at all. She calls the merchant through the descriptor and explains the situation. The merchant checks her information to find out that her account was mistakenly charged due to manual error and that she isn’t the person who bought services from them. Linda, therefore, disputes the charge under the Reason Code 4812: Account Number not on File

Visa Chargeback Reason Code 77- Non-Matching Account Number

An account number on which a transaction is processed by the merchant is not recognized or matched with any account number on the card issuer master database. Such cases normally arise when the key-entered accounts, account numbers through telephone, emails and online are recorded incorrectly.

Most Common Causes

Incorrect account information recorded in a mail-order, telephone order and/or any other online purchase.
Incorrect account information entered manually while processing a transaction.

Evidence Required

• If Information from the Documents can be Verified: If the merchant can transfer documents such as a print of the credit card which identifies that the credit card charged has the correct card number.
• If Account Number Matches: If the account number on the order receipt matches the account number on the chargeback, and the transaction received an authorization approval, give the charge back to the acquiring bank and request the bank to include the authorization log for this transaction when giving back to the card issuer.
• If Account Number Doesn’t Match: If the account number on the order receipt does not match the number on the chargeback, accept the chargeback. In this situation, the merchant can process and submit a new transaction with the correct account number within 30 days of the original transaction and must make sure to request an approval code.
• If the Transaction Wasn’t Authorized: If the account number on the order receipt does not match the account number on the chargeback, and the transaction was not authorized by a mail-order or telephone order, the merchant must accept the chargeback.

Prevention

• If an electronic machine or the terminal cannot recognize/read the card’s magnetic strip, request authorization by key-entering the account number. Be sure the key-entered account number matches the account number on the card. Use a manual printer to print the information from the face of the card at the order receipt that is signed by the cardholder.
• Suppose the terminal is not working, call the center for authorization approval and mention approval code on the order receipt in the space provided. Use a manual printer to print the information from the face of the card at the order receipt that is signed by the cardholder.
• If the merchant has done payments by phone then he must confirm or verify the account number again to the customer to make sure that the account number is recorded correctly.

Excellent Guidance for Chargeback Visa Reason Code 75

Issuer receives a complaint from the credit cardholder that the charge on his billing statement is not recognized. In other words, the customer is not aware of the particular transaction or the information on the statement does not belong to him, not correct or not recognizable.
This reason code is applicable to card present as well as card-not-present orders.

Most Common Causes

• If the cardholder’s billing statement is incorrect, i.e. the merchant store name or location is not recognizable or not matching to the information cardholder provided earlier to the merchant.
• If the buyer has forgotten the particular order.
• The customer is looking for a refund but he or she doesn’t want to go through the regular process.
• The cardholder does not recognize the billing descriptor.
• If someone else like family member used the card and cardholder is not aware about the transaction.

Evidence Required

• The cardholder has provided documentation and information that would help in recognizing the transaction. For example: Purchasing slip, Proof of Delivery or Delivery Note, Detail of trade or service purchased.
• An important factor while accepting cards. Ensure the name of the merchant, city and state is correct in the records. Also, mentioning “doing Business as” DBA is critical.

Prevention

• If the billing descriptor is set, then the chances are that the merchant won’t face such problem. In case merchant notices that disputes are increasing day by day, then it is better to check transaction procedures and contact processor so that the merchant account reflects the information that the cardholder will recognize.
• There should be a toll-free customer service number in the billing description. Ensure that the provided billing description is accurate and recognizable to the cardholder.
• Contact information should be mentioned clearly. This is the best way to communicate with the merchant and the cardholder. When cardholder does not recognize provided information or finds it difficult to reach the merchant, chances of dispute arises.
• Providing full contact information i.e. company name, complete mailing address, email address, and customer service phone number is an essential key to fewer chargebacks.

Common Example

Linda is fond of shopping. She was browsing through a number of online clothing store one day and spontaneously decides to buy few things from a store. Few days later she checks her account and finds out an un-recognizable charge. She tries to reach to the merchant but is unable to due to lack of descriptor, so she decides to put a dispute on the account under the Reason Code 75: Cardholder doesn’t Recognize

How to Manage Chargebacks Resulting from RC-71 Declined Authorizations

The card issuer received a transaction for which authorization was declined. It happens when efforts are made to depolarize or override a declined authorization by coercively posting several authorization efforts or an alternative authorization method.

Most Common Causes

• Alternative authorization method. If merchant swiped the card at a Point of Sell out terminal, and the authorization was cancelled, but the merchant then submitted the transaction by key entering or called in a voice authorization.
• If one or more authorization attempts were made, the merchant re-swiped the card multiple times until the transaction was authorized even after an initial authorization decline. If the card issuer’s authorization system times out or becomes unavailable, and the transaction is forwarded to Visa, in this situation, authorization gets lost.
• Card forcibly attempt. If the merchant forcibly attempts the transaction without requesting an authorization after a decline response.

Evidence Required

• If your first authorization attempt was declined, accept the chargebacks. One or more attempts for authorization may not be accepted as valid evidence to show the approval.
• Notify your acquirer bank of the transaction date & amount, if you got an authorization approval code.
• Get an authorization before completing transactions. When the card is swiped and the dollar amount is entered then the POS terminal automatically sends an authorization request, generates an acknowledgment and prints the receipt if transaction is approved otherwise the transaction is declined.
• All sales staff has to know about the installation authorization policy. They should immediately stop the transaction and ask the customer for another Visa card or other form of payment if any transaction shows cancelled or declined.

Prevention

• Before completing transactions get an authorization. When the card is swiped and the dollar amount is entered, point of sale (POS) terminal automatically sends an authorization request. If your terminal was able to print the receipt, that means the acknowledgment was received and the transaction was approved. But if the receipt wasn’t printed that means the transaction was cancelled or declined.
• If the terminal isn’t working or unable to get an electronic authorization because the magnetic stripe cannot be read, then an alternative method should be applied. Call the bank and as for authorization. If the transaction is approved, note down the approval code on the printed receipt in the appropriate space and ask the customer to sign it.
• If transaction is cancelled, instantly stop the transaction, and ask the customer for another Visa card or other form of payment.

Common Examples
Linda ordered a laptop and got transaction authorization code. She later changes her mind and cancels her order for which she didn’t receive the code. Hence, she disputes the merchant under the Reason Code 71: Declined Authorization.

Most Common Causes for Visa Reason Code 57

The issuing bank got a complaint from the cardholder, accepting his participation in at least one transaction with the merchant but denying participation in the remaining transactions and disputing them. The cardholder also acknowledges the card was in his or her retention when these disputed transactions were made. Such issues arise when there is a failure in avoiding multiple transactions and an intention of processing multiple transactions dishonestly. This chargeback does not apply to recurring payments or to mail sequence, telephone sequence, or internet transactions.

Most Common Causes

• Merchant error: Attempted to run multiple transactions fraudulently with same merchant outlet.
• Technical error: Merchant failed to void/refund multiple transactions.
• Friendly Fraud: Cardholder authorized the transactions, but later denies his participation.

Evidence Required

• The consumer has already been issued credit on multiple transactions or on disputed transaction: Send your acquirer the proof of the credits. An attainable solution is if you have issued the appropriate credit to cardholder, just send evidence of the credit to your processing bank.
• If you do not have any receipt to prove that the refund was made, provide the processor information on the refunded transaction’s date and amount so that they can track the transactions.
• If the Customer did participate in one or more valid transaction: Provide your acquiring bank with appropriate documentation, such as order receipts, delivery note, proof of delivery, description of goods and services purchased.
• If Credit was not processed for the disputed transaction amount:, Obtain the chargeback. Don’t issue credit to the chargeback customer, because chargeback will have automatically refunded the customer.

Prevention

• This type of chargeback could have serious complication for your business as it may indicate forceful fraud and can be an act of downturn for the point of sale.
• It also may simply be the result of a mistake by the sales person. In other to fight this case merchant requires immediate analysis and action.
• The merchant should hire honest sales persons so that they do not do fraud with the customers.
• The merchant should share policies with customers and explain what they are purchasing.
• Request customer’s sign on the order receipt in order to make the purchase strong.

Common Examples

Linda purchased few jewelries online. She kept all the desired products in a cart and made a purchase, however, few days later she sees multiple debits from her account for the same purchase. She recalled the day and made sure that she purchased it only once so—she decides to call the company and ask for credit. If the company denies, she has no other option but to dispute the charge under Reason Code 57: Fraudulent Multiple Transactions.

Visa Reason Code 53 "Not as Described or Defective Merchandise"

Visa Chargeback Reason Code 53: Not as Described or Defective Merchandise

Description

• Issuing bank received complaint from the customer that goods or services he purchased wasn’t as described at the time of the purchase, in other words goods or services are defective, damaged or not fit in the expectation of the customer.
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• Customer claims that policies explained verbally by merchant during purchase were different, and that what he received was different than expected.

Most Common Causes

• Wrong merchandise/goods sent to the cardholder.
• During shipment, goods got damaged.
• The goods or services were described inaccurately.
• The services purchased by the cardholder weren’t cancelled on time.
• The services did not perform as it was described.
• The returned merchandise was not accepted by the merchant.
• The returned merchandise accepted but merchant did not issue credit to cardholder.
• Counterfeit consumer goods.

Evidence Required

• If the merchant hasn’t received the returned goods or the cardholder has not cancelled the service, inform the bank. The cardholder must make a valid effort to return merchandise or cancel the service. The merchant must ensure that the incoming shipments are recorded to later verify.
• If goods were returned or services were cancelled, the merchant must provide the bank with all the information or evidence of the refund.
• If the cardholder’s complaint is legal, and the merchant have received the goods, but have not refunded the amount, he must accept the chargeback. Do not process a credit until the chargeback has performed this function.
• If the goods were accurate and as described, provide the merchant bank with specific information and invoices to deny the cardholder’s claims.
• If merchandise was damaged and it was returned, provide evidence that it was repaired or replaced.

Prevention

• Make sure that the policies regarding the merchandise or services are explained clearly, these should be delivered in the manner they are supposed to be delivered or as mentioned in terms and policies.
• Make sure that orders are placed correctly and arrived perfectly. It must be reviewed and checked regularly during the delivery process.
• The staff must be trained from time to time on how to accurately file an order.
• The buyers must be notified on every cancellation request, credit or refund in order to reduce the possibilities of chargebacks.

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What is the Chargeback Reason Code VISA 30?

The issuing bank received a claim from the cardholder that merchandise or services ordered were not received or that the order was cancelled due to the delay in the delivery of merchandise or services. The most common causes of this chargebacks reason code are when services are not provided, merchandise is not shipped, transaction is billed prior to shipping the merchandise or when merchandise is not sent by the agreed upon delivery date.

Most Common Causes
The merchant:

• Did not send the goods/service by the agreed delivery date.
• Didn’t clearly mention the expected shipping date and arrival date for the order.
• Didn’t deliver the goods or provide the service as per in the agreement.
• Billed the cardholder before delivering the merchandise.
• Didn’t make goods available for pick-up upon agreement.

Evidence Required

If the Goods or services were shipped or provided by the agreed upon shipping date, provide proof of delivery, delivery receipt signed by the cardholder or shipping confirmation that the Goods and Services were shipped to the correct address. The cardholder’s signature on a receipt and proof of delivery to the billing address of the card will make a better chance of chargeback reversal. For services like online login or software download, provide delivery confirmation via email or an electronic download delivery confirmation service.

• If the Goods or Services have not set shipping date or have not been shipped yet, and the chargebacks are received in less than 30 days since the order; provide an order receipt and also provide the expected delivery date.
• If the Goods or Services have not been shipped, but there is a set shipping date, provide a copy of the order receipt, invoice, or other information showing the expected shipping date.
• If the Goods or Services were shipped after the agreed shipping date, provide the proof of delivery and proper acceptance of the cardholder at the correct shipping address.

Prevention:

• If delivery of goods or services are delayed, advise or notify the customer in writing and make available an expected shipping date. Provide the cardholder the option if he wants to continue with the order or cancels it.
• For future delivery of Goods or services, clearly mention the expected shipping date and delivery date on the invoice or order receipt.
• For services rendered, provide a signed order receipt or invoice showing receipt of services.

Common Example

Linda ordered a new dress online. It’s been over the time frame of the merchant’s shipping policy and she didn’t receive the dress yet. Now Linda has two options, either contact the merchant and request the information on her dress, OR contact her bank and start a dispute with Reason Code 30: Services Not provided or Merchandise Not Received.

What are Issuing Banks and Credit Card Company?

Thе iѕѕuing bаnk iѕ thе finаnсiаl inѕtitutiоn thаt iѕѕuеѕ Credit card to соnѕumеrѕ on bеhаlf оf thе саrd networks (Viѕа, MаѕtеrCаrd). Thе iѕѕuing bаnk is аlѕо knоwn as thе Credit card company. For еxаmрlе, thе Iѕѕuing Bank of a Citi Viѕа credit card is Citibаnk, аnd Wеllѕ Fаrgо iѕ thе iѕѕuing bаnk оf its dеbit саrdѕ. Nоt all еxаmрlеѕ оf Iѕѕuing Bаnkѕ аrе аѕ оbviоuѕ bесаuѕе bаnkѕ оftеn partner with other organizations tо mаrkеt аltеrnаtivеlу branded credit cards. Airlinе rеwаrd сrеdit саrdѕ are some оf the most рорulаr еxаmрlеѕ in which the саrd is brаndеd bу аn аirlinе but iѕѕuеd аnd managed thrоugh a partner bank.

Indееd, banks issuing сrеdit cards are аlѕо knоwn аѕ mеmbеr bаnkѕ and they аrе in сhаrgе оf ѕеtting the credit limit available to thе card hоldеr. Furthеrmоrе, whеn it соmеѕ tо сrеdit саrdѕ, thiѕ tуре of bаnkѕ еxtеnd a linе of сrеdit tо the соnѕumеr by writing a letter of сrеdit whiсh рurроѕе iѕ ensuring thаt intеrеѕtѕ will bе раid оn аnу рurсhаѕе mаdе bу thе саrd uѕеr. Among the world’s most important credit саrd iѕѕuеrѕ аrе thе fоllоwing: American Exрrеѕѕ, Bаnk оf Amеriса/MBNA, Bаrсlауѕ, Capital Onе, Chase, Citi, Diѕсоvеr, HSBC, Llоуdѕ TSB/HBoS, and Wells Fаrgо. At рrеѕеnt, Viѕа аnd MаѕtеrCаrd lеаd thе сrеdit саrd mаrkеt with 70% mаrkеt ѕhаrе.

Liаbilitу
Uѕuаllу, thе iѕѕuing bаnk iѕ thе one thаt tаkеѕ the main rеѕроnѕibilitу before the асԛuiring bаnk fоr еnѕuring the рауmеnt оf debt bу thе саrdhоldеr. Hоwеvеr, in linе with thе card аѕѕосiаtiоn rules in thе ѕресifiс саѕе оf сrеdit cards both thе iѕѕuing bаnk аnd thе асԛuirеr share the liability fоr the dеbtоr’ѕ nоn-рауmеnt.

Diffеrеnсе Bеtwееn the Acquirer and Iѕѕuеr?
Thе асԛuiring bаnk (also mеrсhаnt bаnk оr асԛuirеr) iѕ thе financial inѕtitutiоn that mаintаinѕ the mеrсhаnt’ѕ bаnk ассоunt. The соntrасt with thе асԛuirеr enables merchants tо рrосеѕѕ сrеdit аnd debit саrd transactions. Thе асԛuiring bank раѕѕеѕ thе merchant’s trаnѕасtiоnѕ аlоng tо the аррliсаblе iѕѕuing banks tо rесеivе рауmеnt.

Thе iѕѕuing bаnk is thе finаnсiаl inѕtitutiоn that issues сrеdit саrdѕ to соnѕumеrѕ оn bеhаlf оf thе саrd nеtwоrkѕ (Viѕа, MаѕtеrCаrd). Thе iѕѕuеr acts аѕ the middle-man for thе соnѕumеr and thе саrd nеtwоrk by соntrасting with thе cardholders for thе terms оf thе repayment of trаnѕасtiоnѕ.
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The Importance of POS Terminal for Your Retail Businesses

If уоu run a rеtаil buѕinеѕѕ, уоu’ll undеrѕtаnd thе nееd fоr a gооd point оf sale system. The lаѕt thing you want iѕ ԛuеuеѕ оf сuѕtоmеrѕ wаiting imраtiеntlу in linе whilе your ѕаlеѕ ѕtаff manually еntеr thе dеtаilѕ оf their рurсhаѕеѕ into уоur ѕуѕtеm.

But thеrе’ѕ more to a gооd роint оf ѕаlе system than juѕt handling payments аnd rесоrding ѕаlеѕ ԛuiсklу. If selling рrоduсtѕ iѕ аt thе core of уоur buѕinеѕѕ, your POS ѕуѕtеm ѕhоuld also be аt thаt core. Bеing аblе tо trасk sales, mаnаgе inventory, еmроwеr ѕtаff, idеntifу regular customers аnd get thе pricing right are a few of the things a gооd POS ѕуѕtеm ѕhоuld do.

Bеnеfit оf POS system fоr Retail business

There mаnу rеаѕоnѕ fоr a buѕinеѕѕ tо uѕе a POS rather than a trаditiоnаl саѕh register. Thе kеу аdvаntаgеѕ of a POS аrе dеtаilеd bеlоw.

Improved Effiсiеnсy
Whilѕt thе POS system such as EMV enabled VеriрhоnеVX 520 offers a vаriеtу оf роѕitivеѕ tо thе buѕinеѕѕ mаnаgеr or dirесtоr, lеt’ѕ firѕt explore the advantages it оffеrѕ tо the main ѕуѕtеm’ѕ uѕеr (i.е. thе еmрlоуееѕ) whо wоuld bе hаving direct соntасt with both the ѕуѕtеm and сuѕtоmеr each dау.

Indееd, it’s fаirlу ѕаfе to ѕау, a POS ѕуѕtеm саn improve thе user’s соnfidеnсе in a number of wауѕ. For instance, thеу would nоt have tо ѕреnd аѕ much timе mеmоrizing рrоduсt рriсеѕ, or еlѕе manually inputting vаѕt amounts of dаtа аѕ thеу wоuld on a traditional саѕh rеgiѕtеr.

Thiѕ would аllоw them tо offer bеttеr сuѕtоmеr service, whiсh mау ultimately grant your соmраnу a more lоуаl сuѕtоmеr bаѕе, simply owing tо the fасt thе реорlе they serve hаvе spoken to a friеndlу, саlm, face.

In аdditiоn to thiѕ, while trаditiоnаl cash rеgiѕtеr ѕуѕtеmѕ саn саuѕе quite a fеw iѕѕuеѕ аnd hеаdасhеѕ whеn thе uѕеr mаkеѕ a miѕtаkе, Pоint оf Sale ѕуѕtеm еrrоrѕ can easily be rесtifiеd with just a couple оf ԛuiсk clicks.

Thе еrrоr rate for both mасhinеѕ iѕ аlѕо еxtrеmеlу diffеrеnt. In fасt, according tо ѕtаtiѕtiсѕ, whilѕt individuals hаving tо mаnuаllу inрut each trаnѕасtiоn оn a trаditiоnаl cash rеgiѕtеr can саuѕе a miѕtаkе with every 300 сhаrасtеrѕ tуреd, Point оf Sale system еrrоrѕ аrе few аnd fаr bеtwееn, with оnlу one ѕubѕtitutiоn еrrоr for every 15,000 to 36 trilliоn barcode characters ѕсаnnеd.
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How to Reduce and Manage Chargebacks for High Risk Accounts?

At any time, customer can file a chargeback under any reason code. Chargeback not only effect 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.

Chargeback Process

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

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

Benefits Of Chargeback Expertz

• Reduced Risk
• Increased Profits
• Ensured Sustainability
• Customer Retention and Loyalty
• Recovered Revenue
• Improved Brand Name
• Improved Industrial Relationships
• Declined Chargebacks.

Tools and Strategies for Effective Chargeback Management

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

At Chargebackexpertz, we provide effective strategies to 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

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What is Payment Processor and How to Avoid Chargebacks?

Your payment processor can help avoid chargebacks using tools such as verified by Visa, CVV, and AVS for preventing frauds. In addition to these there are measures they consider to reduce number of chargebacks. Here are list of things that you can expect:

There are many players in overall process, the card brand, card owner, payment brand, processors, and the merchant. If customer has reasonable claim then card brand will send a temporary credit to the card owner and the process of chargeback starts. The funds are debited from merchant’s account during the process.

There will be a notification via mail, fax, or online management system about the chargeback. If you submit documentation on time and challenge the chargeback successfully in time assigned to you, then funds will be returned. But if documentations are not submitted, then you won’t get funds.

These were things that you can expect from banks that will handle your case, here is how your processor can handle your case and ensure to prevent chargebacks.

Processors helping business to avoid chargebacks

Blacklist: A list can help business owners to identify frauds, regardless of type of fraud committed. Merchants can enlist those who have caused trouble once. Merchants also have option to block cards that have been involved in some sort of fraud. Individual IP addresses, emails, or entire country can be banned. There aren’t many processors offering these facilities so merchants should check whether they have it.

Whitelists: Just like a blacklist, there is a whitelist that helps manage demographic of customers. A blacklist bans few individuals, but a white list bans entire population, allowing only few using a protective barrier. For example, a merchant may want to block all the countries except USA, UK, and Australia. Black and white lists help reduce risk and prevent transactions that merchant thinks will result in chargebacks. Consulting with the processor will help manage both white and black lists.

Limits: If a criminal try to run a card, it may go for many other purchases as well before detection. If there is one successful fraud attempt, then criminal will for sure want to try the same or different card. Having limits is essential because it help merchants monitor transaction frequency. For example, an IP address could be limited or prohibited from attempting to purchase for a short time. Velocity limits is type of tool usually provided by processor to control number of transactions.
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How to Control Chargebacks Easily?

Even the most sophisticated retailers can feel the effects of chargeback losses from a lack of sufficient in-depth reporting on chargebacks received and their cause. This is where Chargeback Expert's mitigation and management technology, which is based on proven success helping hundreds of high-risk merchants to combat chargebacks, can provide the perfect solution.

3 Primary Areas of Concern for Ecommerce Merchants

Online Shoplifting: Shoplifters have found a new way to steal merchandise without leaving home! By giving a fake reason to their issuing bank for filing a chargeback, an online shoplifter can receive an almost no-questions-asked, immediate refund for items purchased and kept; thus avoiding direct contact with a merchant and circumventing any standard refund requirements. For example, Mary claims she canceled or returned a product, when in fact she received the product and intends to gain benefit from the product without paying for it by filing a chargeback.

Online shoplifting accounts for 45%-60% of all chargebacks filed by chargeback abusers. Unless a merchant fights back, the shoplifter wins and the merchant loses.

Processing Errors: When something goes awry with an eCommerce system, an error in the online purchasing process occurs. Processing errors include such things as incorrectly set up retail descriptors, customer service numbers that fail to work, accidental customer double billing and forgotten product shipments.

Chargeback Expertz understands the situations that create processing errors and works with eCommerce merchants to fix existing problems and to provide preventative solutions.

Confirmed Fraud: Fraudulent chargebacks consist of unauthorized credit card transactions, purchases made with stolen credit and debit cards, and bad affiliate traffic. Confirmed fraud makes up between 10%-25% of all chargebacks.

Chargeback Expertz assists merchants with systematic methods to keep traffic sources in check and to help prevent fraud before it happens.

Merchant Benefits

Chargeback Expertz’s mitigation and management technology system benefits merchants by providing a truly effective, accountable and long-term solution to growing an online business, balancing transaction growth and merchant identification number (MID) management. In fact, when fraud and chargeback levels are kept within acceptable thresholds, participants in the acquiring side of the payments industry or those who provide merchant support and even consumers benefit.

How to manage VISA Chargeback Reason Code 57?

The issuing bank received a claim from the cardholder, acknowledging that he or she participated in at least one transaction at the merchant side but disputing participation in the remaining transactions which was held in short period of time. The Customer also states the card was in his or her possession at the time of the disputed transactions.

What are the Causes of Reason Code 57?

Causes for Reason Code 57 are:

• Merchant tried to process multiple transactions fraudulently.
• Merchant fails to void multiple transactions of a single Credit Card account.
• Cardholder authorized the transaction earlier but later denied.

Prevention Techniques:

• The merchant should void the transactions in that Customer not participate.
• Merchant process Credit immediately if Multiple transactions held from a single credit card account of same product.
• The merchant should share all Policies with Customers and let them know about the Orders and offers.
• Always request to Cardholder to sign the policies in addition to the final transaction receipt.
• Trained employees to operate point-of-sale terminals and void transaction.

How to Respond Chargeback?

Tips to Respond Chargeback are:

• If the proper Credit has been processed to the Cardholder’s account on all disputed transactions, send all the regarding evidence to acquirer.
• If cardholder participate more than one transaction, provide proper evidence such as sale receipt, invoices of particular transaction and proof of delivery.
• If refund provided to Customer, provide refund evidence to acquirer.
• If merchant void the transactions, inform the acquirer to avoid Chargeback.

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