#chargebackfights

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Perfect Guide For Merchant's To Fight Chargebacks

The first rule to run a successful and balanced business is to catch the chargeback before it goals our business profit. Navigating the chargeback process is painful and time-consuming for any merchant.

All chargeback disputes begin when a cardholder files a dispute on a transaction with their issuing bank. Visa gives issuing banks up to good 30 days to review. If valid, they would then forward it to the merchant’s acquiring bank or payment processor, who notifies the merchant.

Chargeback, if you may not know is a return of funds into the buyer’s bank account, a line of credit or credit card.

Know The Process

Know the parties involved in this.

1. The Customer

2.Issuing Bank

3.Card Network

4.Acquiring Bank

5.Merchant Account Processor

6.Merchant’s Commercial Bank Account

7.The Merchant

8. Merchant Loses to Chargebacks

9.Preventing Chargebacks

These 9 heads are involved in this and have a look at this individually.

1. The Customer

The customer is a cardholder who purchases products/services from the merchant.

2. Issuing Bank

The issuer provides payment cards to the cardholder.

The issuer is the underwriter of the account. That means it is responsible to disburse funds to the merchant from the customers.

3. Card Network

This provides a transfer facility between issuers and acquirers.

4. Acquiring Bank

The acquirer is the party responsible for acquiring authorization through the card network. The acquirer settles the funds collected from the processing fees, network fees, and interchange fees.

5. Merchant Account Processor

The merchant account processor is a service provider that partners with an acquirer. They provide services as process payments on the merchant’s behalf.

6. Merchant’s Commercial Bank Account

The merchant commercial bank account is the destination of funds transferred from a cardholder.

7. The Merchant

Company or a business who provides goods or services in exchange for money.

8. Merchant Loses to Chargebacks

Losing to chargeback dispute is worse than chargeback itself here he losses product and the amount disputed to him.

9. Preventing Chargebacks

This is providing quality to the customers, in order to prevent chargebacks merchants should consider the following points:

a. Accurate results of the product or services.

b. Proper return policy

c. Excellent customer support

d. Have a conversation with the customers including documents.

Chargeback Expertz

Chargeback Expertz gives proper prevention against the chargebacks. Check us on app@chargebackexpertz.com or call us at +1 855-465-4723 we are available round the clock.

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Learn to response chargebacks on time as it drains a lot of time, energy and money from the people. The merchant should know how to conspire and how to win the chargeback on time.

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Handling Chargeback Disputes!!!

For a merchant, the true cost for a chargeback is sometimes twice bigger than the cost of the product or service. If you handle chargeback disputes efficiently then you will surely notice some improvement.

However, sometimes, merchants need some assistance with chargeback management. This can be done by hiring a chargeback management firm or creating a chargeback management unit in your company.

Find The Route Cause.

If you wish to handle chargeback dispute in your business then you need to start by knowing the reason behind the chargebacks. Not just that, you are also required to educate yourself with the chargeback reason codes of the various credit card networks such as Visa, MasterCard, American Express, and Discover.

Resolve Disputes

If you know that the chargeback is caused due to your mistake, you need to simply accept the chargeback.

On the other hand, if this a case of chargeback fraud then you need to file Representment and challenge the case.

· Authorization of Transaction – In order to complete a transaction, the merchant should have proper authorization from the customer and issuing bank. If a merchant completes the transaction without proper authorization then the chargeback is valid. This means if you are a merchant then make sure you have the authorization before completing the payment process.

· Transaction Receipt – Mode of Payment and Payment Processor play an important role. If the transaction is carried out using the services of a payment processor then you can simply contact the payment processor to make sure that there are no payment related issues.

·Terms and Conditions – Every business has some terms and conditions and you need to tell your customers about these terms before the purchase. This resolves the cases of friendly fraud in the business.

Clear Chargeback Representment

Here are some tips to prepare a Chargeback Representment:

Compelling evidence is necessary. If you are going for Representment then you must have evidence against the filed chargeback. If this is the case then you would have to focus on that evidence.

Other than that, you need to provide details of the transaction, including delivery delated information, if any.

Never prepare a really bulky Chargeback Representment report. Just add the required minimum information for ease to understand.

Chargeback Expertz

ChargebackExpertz a whole center where merchant gets the best solution for the disputes raised and they face daily. Call us on Phone: +1 855-465-4723 or mail us at EMAIL app@chargebackexpertz.com.

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Know The Value Of Chargeback Reports

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.

A chargeback the 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.

If you are connected to a chargeback management company and think that all your chargeback issues are taken care of, then you may be wrong. You need to keep an eye on each of your chargeback reports, monthly.

Ingredients of chargeback report

•Transactions Details (Amount, Mode of Payment, Customer’s Information)

•Chargebacks (Chargeback Amount, Reason of Chargeback, Time Frame to resolve the Chargeback)

•Representment

•Pre-Arbitration

•Finally, Chargeback Reason Code

Short Summary

A well-composed chargeback report can actually help evaluate the pattern of the chargeback occurrence. Furthermore, you can study the pattern to finally assess risks.

•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.

A well-organized chargeback report can actually, help:

•In predicting chargeback in upcoming months

•In creating a more effective chargeback prevention strategy

•Designing methods to recover the revenue lost due to excessive chargeback

•Finally, decreasing the frauds caused in the name of chargeback

ChargebackExpertz

To get information about chargeback reports you need to get in touch with us. Chargeback expertz will give you a proper diagnosis about the business and suggestions which is more fruitful and productive for your firm. Call us at +1 855-465-4723 or mail us at app@chargebackexpertz.com.

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Strict Detection and More Profit.

Owning a business involves the risk of fraud especially, e-commerce business where transactions are done virtually, known as CARD NOT PRESENT. CNP payments increase the risk of fraud exponentially.

3 highly common causes of chargebacks.

The charge or business name is unrecognizable on credit card statements

Usage of your credit card without any intimation to the owner.

The delivered goods or services is not actual as described or the good received is damaged.

In order to detect chargebacks, you must combine machine learning and a human interception. Machine learning will ensure data has been quickly analyzed, checked and balanced.

What can you do to prevent chargeback?

Customer service – Expect excellence from your employees. Train them to be effective, efficient and empathetic when a customer concern arises.

Train your Employees – Invest time in their business knowledge and ability. Actively enforce relevant policies and procedures.

Know Your Customer – Monitor customer behavior and activity by calling or emailing the customer by which you can further confirm the security of sales.

Keep up to date and secure technologies – Always be informed of technological advancements to keep your business’s and customer’s safety.

Chargeback Expertz

Prevention and Detection of chargebacks will protect your e-commerce business’s profitability. For more information, feel free to contact Chargeback Expertz and get the information related to the various Chargeback Frauds and how to prevent them. Furthermore, Chargeback Expertz also provides assistance with the Representment and Chargeback Reversal. Contact now at the toll-free number +1 855-465-4723 or chat via Skype by visiting www.chargebackexpertz.com