Chargeback Protection Guide for Merchant– If you are a merchant then payment is the most important aspect for you. This means the method you use and implement can make a difference when it comes to generating revenue. With the sudden boost in the usage of the digital methods of marketing the use of credit card and other digital methods have also risen, exponentially.
Along with all these changes, the chargebacks still haunt the merchant. This article is here to help you understand chargebacks and protect the merchant from various fraudulent transactions. You can also get an expert if you are looking for specific details related to a query. Contact Chargeback Expertz at the toll-free number +1(855) 465-4723 or chat via Skype.
Know About the Merchant’s Right – Chargeback Protection Guide for Merchant
It is a myth that the Merchant has no rights when it comes to the Chargeback. The Card Network Company only wants fair transactions between merchant and customer without any dispute. To encourage the fair practice, the chargeback norms are designed to offer reasonable assistance to both merchant and customer.
Here is how the card network organization helps the merchant:
- Firstly, the card network has the advanced technology to stop the fraudsters or thieves from stealing from a merchant with their security program.
- Also, the merchant gets alerts of any transaction that can be suspicious and cause any loss to the merchant.
- Furthermore, there are various POS methods available that make sure the transaction is genuine by asking required details of the customer.
- Even if a cardholder files a chargeback against the merchant, the merchant always has the option to fight against it. The merchant can file the Representment if he/she has compelling proof of the legit transaction.
If you are confused about the concept of the Chargeback Representment just get on the Chargeback Expertz’s website and gather all the details. Furthermore, if you need help to file the Representment simply place a call at the toll-free number+1(855) 465-4723.
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What are Different Chargeback Frauds?
Before we move to Chargeback Representment, the merchant should know about various frauds that can affect a merchant. Here is the list of possible chargeback frauds.
- Friendly Fraud – According to the latest report, most of the chargeback reported to the card network is due to the friendly fraud. This happens when the customer directly files the chargeback without asking for the refund from the merchant. The friendly fraud is caused when the customer does not have complete details related to the refund and replacement policy.
- Chargeback Fraud – When a customer uses the norms of the chargeback for fraudulent activity. It is difficult to differentiate between the chargeback fraud and friendly fraud. But a merchant can use the preventive measures to dodge the cases of fraud.
- Merchant Mistake – A merchant can also make mistakes while processing the chargeback. A mistake can lead to late delivery of the product or the delivery of damaged goods. Furthermore, a late reversal of the transaction also comes under the merchant mistake.
These are the three general types of chargeback that have been noticed which could further be divided into subcategories. If you are looking for more details then visit chargebackexpertz.com and get Chargeback Protection Guide for Merchant.
What is Chargeback Representment and How it can help?
Chargeback Representment – When the merchant submits the transaction details to acquiring bank along with the proofs that suggest the transaction was genuine. That report is known as the Chargeback Representment.
Here is how representing the chargeback can save a merchant from an enormous loss:
- If you have robust proof that can help you win a chargeback then you should go for representing the case.
- Also, the card networks such as Visa and MasterCard have monthly threshold for the chargeback limit.
- If a merchant seems to cross the limit, again and again, he/she can be subjected to fine.
- Furthermore, that business can also put under the high-risk business that can cost a lot to a merchant.
Contact Chargeback Expertz if you are looking for an assistance to file Chargeback Representment. Furthermore, visit the website www.chargebackexpertz.com for more details. We also provide assistance to the merchant looking for Chargeback Management.