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What is the Chargeback Challenge for a Merchant?

chargeback challenge for a MERCHANT

Chargeback ChallengeChargeback is really a challenge for a merchant who is trying to make profit out of a business. First of all, you need to maintain a minimum number of chargebacks. And, respond to the Representment in an orderly manner. A chargeback is both challenging and difficult to deal with and when the chargebackshit the business majorly then you need an expert to handle the chargeback challenge.

You can contact Chargeback Expertz to help you deal with Chargeback Representment. We can also provide you chargeback alert to prevent exceeding the minimum chargeback threshold. We also help our customers with their chargeback management by analyzing their company data.

What is a Chargeback Challenge?

The chargeback laws are designed to avoid any fraudulent transaction in the name of the business. These chargeback laws and reason codes are really strict for a merchant. But with the recent updates in the laws, there is hope that chargeback fraudswould be reduced and handled efficiently. But there are still some chargeback challenges that pertainfor merchants.

Reduce the Number of Chargeback

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

  • The first thing to consider is that different card networks use a different method to calculate Chargeback Ratio.
  • A chargeback ratio is a simply a ratio of number chargebacks to the number of transactions.
  • If a merchant exceeds the minimum chargeback ratio then the enterprise will be subjected to a fine.
  • Moreover, the business will be tagged as a high-risk business.

If you are a merchant looking for a method to reduce the number of chargeback then you can contact Chargeback Expertz and get a fully guided method to minimize the chargeback.

Avoid Friendly Frauds

According to some reports, most of the chargebacks filed are caused due to friendly fraud. Most credit card users do not know about the consequence of a chargeback. In such cases, the merchant bears the loss.

  • To reduce the friendly fraud, the merchant should clearly tell the customer about his business’s return and refund policies.
  • They should let their customer know that the replacement and refund option is available.

For more such tips, contact Chargeback Expertz team at their toll-free number+1 855-465-4723.

Respond to the Representment

Not all the merchantsknow how to respond to chargeback when a customer fileit. If the merchant does not respond to a chargeback in the time limit provided by the bank then there are consequences.

  • Once a customer files the chargeback, the issuing bank forwards the report to the acquiring bank.
  • Then the acquiring bank informs the merchant about the chargeback.
  • The time to respond to the chargeback is clearly mentioned in the report.
  • Now the merchant has two option, either to provide the refund or fight the chargeback.
  • In both the cases, the merchant faces troubles and lose money along with the resources.

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Fight a Chargeback

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

  • As we discussed, the chargeback laws are designed to protect customers from a fraudulent transaction.
  • 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 is recommended to monitor all your transactions and keep the billing details. These details can be really beneficial to the case.

The Final Outcome – Chargeback Challenge

  • As tricky as it sounds, the chargeback is really frustrating to deal with.
  • Managing the business and handling the dispute frauds at the same time is another challenge.
  • And, if the merchant himself decides to fight a chargeback, it becomes another stress.
  • To deal with a chargeback, you need the proper guidance.

You can get an expert here at Chargeback Expertz, just call us at the toll-free number +1 855-465-4723 or chat with us. Our services are available 24/7; contact to get Chargeback Alerts and Representment guidance.


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