#chargebackprocess

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Friendly fraud occurs when a customer files a chargeback instead of trying to first get a refund from the merchant. Feel free to contact us at our toll-free number +1 (855) 465 4723.

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Few Tips To Reduce The Chargeback Rates

An excessive number of chargebacks affects business and profitability. This is why you need to keep chargeback numbers under the limit. Such services are provided by Chargeback Expertz to control the rates . You can simply contact at the toll-free number i.e.+1 (855) 465 – 4723 and talk to an expert for more information.

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A merchant has a specific time limit when it comes to responding to chargeback. If not done, the issuing bank can press charges on the merchant. But at the same time, a merchant needs to be very careful when responding to a chargeback.

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Happy Faces Less Losses.

Chargebacks come out of nowhere they need to be treated and cured well. Chargebacks are the one which all of a sudden and needs proper care and proper treatment.

Chargeback Management: A chargeback occurs when a cardholder disputes a transaction after purchasing goods or service that fails to match its description. Not all of the cardholder’s disputes result in a chargeback.

Research shows that 85% of cardholders file disputes simply because they don’t have time to call the merchant and ask for a refund. This is also known as friendly fraud

Friendly Ways To Fight Fraud

Be Responsible – Employees must respond to customers with concerns promptly, effectively and efficiently. Verify information and always authorize before processing payment. Monitor for missing information or multiple accounts with overlapping info.  A highly trained staff that feels valued means that you will have customers that feel valued.

Be Proactive – Strive for customer service excellence.

Be Aware – It’s important to review Network Rules and Chargeback Reason codes for Visa, MasterCard, American Express, and Discover. Have easy to follow protocols in place. Annual meeting and frequents training seminars will ensure all employees are informed and updated.

Be Honest – Often the cause of a chargeback is an unsatisfied customer with a buyer’s remorse. It is important to market honestly to create the trust and brand of your business. When your product is delivered it must be as described, free of defect or damage. Delivery issues often result in dissatisfaction and ultimately lead to chargebacks. With any business, it is better to under-promise and over-deliver rather than fall short of customer expectations.

Be Trusted – There is no better marketing than a happy customer. On the flip side, there is also no worse advertising that a dissatisfied customer. Customers must believe in your product and high-quality customer service that they receive from your business. Creating trust will result in repeat customers.

Chargeback Expertz

Chargeback Expertz is the best boat to sail. chargeback expertz gives the best chargeback management and its solutions. Chargeback expertz gives the services round the clock please call +1 855-465-4723 or mail us at app@chargebackexpertz.com.

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Prevention is better than cure. Learn the basic tips on how to fight chargebacks. Manage things on a better note. Call  Chargeback Expertz +1 855-465-4723.  

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Methods Of Visa and Mastercard To Manage Chargeback

Manage Excessive Chargeback Levels

The Visa and MasterCard take action depending on the number of chargebacks in a month for the merchant.

This is called the chargeback ratio or chargeback rate. If the merchant reaches the maximum chargeback limit, the card companies have the right to implement a penalty.

These are sensitive issues that can affect your business in terms of profit and reputation.

ChargebackRatio and Chargeback Rate – Calculate Chargeback Threshold with Visa And Master Card

The Visa and the MasterCard, both have different norms to manage Excessive Chargeback levels but before moving to the excessive chargeback, you must know about the Chargeback Rate and Chargeback Ratio.

Visa’smethod to calculate Chargeback Ratio:

• To calculate the chargeback ratio, the Visa divides the number of chargebacks in a month to the number of transactions of that month. This becomes the chargeback ratio. Furthermore, to calculate the chargeback rate, multiply this ratio with 100.

Here is the formula that Visa uses to calculate the Chargeback Rate:

• Chargeback Rate = (Number of Chargebacks in a month / Number of Transactions in a month) *100

Master Card’s Method To Calculate Chargeback Ratio:

• Master Card uses a slightly different method to calculate the Chargeback rate. The formula is similar but the only difference is, they take the ratio of the current month’s chargeback and divide it by the previous month’s transactions.

The Mastercard chargeback rate formula is:

• Chargeback Rate = (Number of Chargebacks of current month / Number of Transactions of the previous month) *100

If you are a merchant, then you can also calculate the chargeback ratio of your enterprise using this simple formula.

What are Excessive Chargeback Levels?

As complicated as it sounds, the chargebacks can be tricky to deal with not only for the merchant but also for banks. Every year, many cases of chargeback frauds are reported. Furthermore, the banks and card networks are trying to establish the best method to avoid any frauds.

Chargeback Expertz

ChargebackExpertz does the best research for you and gives you the best maintenance for the chargebacks. Have any questions in your head call us at +1 855-465-4723 or mail us at app@chargebackexpertz.com

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Friendly fraud occurs when a customer files a chargeback instead of trying to first get a refund from the merchant. They imagine a chargeback is simply a different way of getting their money back, as a regular return.

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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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Chargeback Expertz service station gives you and a wide variety of chargeback services. Take the benefits and swim in a pool of profits.

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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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Mouse Trap Of Friendly Fraud

Yes, merchants’ goes through the friendly fraud and It’s a friendly trap, same which humans do for the mouse. Chargeback fraud, also known as friendly fraud, occurs when a consumer makes an online shopping purchase with their own credit card and then requests a chargeback from the issuing bank after receiving the purchased goods or services.

Friendly Fraud:

Friendly fraud occurs when a customer files a chargeback instead of trying to first get a refund from the merchant. Authorized cardholders dispute legitimate charges to their credit cards, pushing the bank to force a refund under the pretense that the merchant made an error.

Other consumers intentionally abuse loopholes in the chargeback rules. These cyber shoplifters are maliciously attempting to get something for free, tear you off in the process.

How To Avoid Them.

1.Trust building:

A merchant should always interact with his customers and keep building faith and trust of the customer.

2.Trace the sale and follow-up:

A merchant needs to trace the sale all the way through the payment to delivery and make nothing goes wrong in the process. Merchants need to keep track of when, where and how deliveries occur. Getting a delivery signature also helps combat friendly fraud, because you gain proof, which can decrease the losses and increase profits.

3.Notify customers:

When you process their order, and also before and after processing recurring payments. If there is a delay between an order being placed and a card being charged, it is best to send a reminder to the customer about what they’re being charged for. This is especially true with recurring payments done for subscriptions, as customer tends to forget and unknowingly disputes the transaction.

4.Professionals Help:

All in all, there is a work in which everyone specializes. Professionals should be hired who knows in and out of the chargebacks and policies regarding various businesses. They clearly specialize in avoiding, fighting and reducing chargebacks.

Chargeback Expertz

ChargebackExpertz gives a full-fledged platform where chargebacks are just dust, through the chargebacks in thrash. Know more what are chargebacks PHONE: +1 855-465-4723 or mail us at EMAIL: app@chargebackexpertz.com

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Remedies To Solve Chargebacks Fast

Chargebacks are shooting stars that fall all of a sudden in the bag of the businessman. Chargebacks need quick treatment so that they should conquer the place. Here let’s have some glimpse.

Resolve Chargebacks

Arbitration is the best method to resolve disputes faster. From the merchant’s point of view, Arbitration is the preferred method to resolve the chargeback. Because it is more effective and recognized method to fix dispute.

Pre-Arbitration?

In the pre-arbitration, the dispute is resolved within the issuing bank and the acquiring bank. If a merchant feels that the evidence is strong enough to win the chargeback, the Arbitration method can be used to resolve chargebacks faster. The Pre-Arbitration does not involve the card network like Visa.

The general the flow of the chargeback starts from the customer, where the customer initiates the chargeback then the merchant either provides the evidence to fight chargeback or simply gives a refund.

What is Arbitration?

Arbitration is like a court trial where both the parties that are merchant and customer present their cases to the card network (Visa).

After examining the details of both the parties the final decision is given by the card network.

Tips for Quick Chargeback Reversal.

For a merchant, the chargeback can be really difficult to handle and everyone wants to resolve chargebacks faster. These tips can help:

•   Present the evidence that is to-the-point, clear and short.

•   A quick response can help you resolve chargeback quickly. Respond quickly.

•   Avoid any difficult or time-consuming method to resolve disputes.

•   Learn from your mistakes.

•   Finally, if you are in doubt get a professional.

ChargebackExpertz

If you are thinking to get a professional for the chargeback reversal then you can try our Representment Service.

In order to reach an expert, you can try the toll-free number +1(855) 465-4723 or chat via Skype. Our services are 24*7 available, you can reach us anytime. Moreover, you can get the solution to your other chargeback issues by following our blogs at chargebackexpertz.com

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See The Magic Of Winning Chargeback

Discussing the major issues related to chargeback's Chargeback Expertz is the one that solves the problem from just simple and quick tips. Feel the joy with us.