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What are the Effective Tricks to Resolve Chargebacks Faster?

Resolve-Chargebacks

Resolve Chargebacks Faster – Due to many cases of the chargeback fraud, the new Chargeback rules introduced the Pre-Arbitration in April 2018. Also, Arbitration is another method to resolve disputes faster. From the merchant’s point of view, the Arbitration is the preferred method to resolve chargeback. Because, it is more effective and recognized method to fix dispute.

What is Pre-Arbitration?

The general 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 the refund. If the merchant wants to fight the chargeback, the card network such as Visa, MasterCard, American Express, or Discover Card will give the decision whether the chargeback is applicable or not.
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.

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.
In order to resolve the disputes faster, the merchant should present the compelling evidence that can help them win the dispute quickly.

What are the Steps Leading to Arbitration?

In order to understand the arbitration and to resolve chargebacks faster, the various steps leading to the arbitration should be considered too. Here are the steps:
Step 1: First Presentment – This is when the customer or the cardholder ask for the copy of the transaction. This is when they try to initiate the dispute. The copy of the transaction is given to both cardholder and issuing bank.
Step 2: Chargeback Initiated – After reviewing the transaction details, the cardholder initiates the chargeback which is further reviewed by the issuing bank. This happens when details related to the transaction doesn’t feel right.
Step 3: Second Presentment/Pre-Arbitration – If the merchant or the acquiring bank feels like there is some mistake in the dispute and it is not valid. They can present their case to the issuing bank and customer and solve it there without involving the card network.
Step 4: Arbitration – If the chargeback issuing party doesn’t help you resolve the dispute and you have pressing evidence to prove your case then you can go to the final judge. The card network is informed about the dispute and they help the merchant to resolve disputes faster, given the merchant presents compelling evidence.
For more details related to the arbitration and methods to resolve chargebacks faster, contact the Chargeback Expertz at the toll-free number +1(855) 465-4723.

How much time does it take to Resolve Chargeback?

The different card network has a different time limit to resolve the chargeback. For instance, the Visa has updated the chargeback resolution time limit to 30 days. Similarly, the MasterCard offers the 45 days windows to fix the Chargeback.
The chargeback is generally quick to resolve, you just need to provide clear evidence. If the opposing party present counter evidence then the process can take time.
Sometimes, the merchant needs to fight chargeback in order to clear their name from the high-risk business. And to resolve chargebacks faster, contact the expert at the chargeback Expertz.

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.
  • Write a Rebuttal Letter which is professional with heavy on facts and less on emotions.
  • Respond quickly. A quick response can help you resolve chargeback quickly.
  • Avoid any difficult or time-consuming method to resolve disputes.
  • Learn from your mistakes.
  • Finally, if you are in doubt get a professional.

If you are thinking to get a professional for the chargeback reversal then you can try our Representment Service. The Chargeback Expertz provides assistance for all your chargeback issues including steps to resolve chargebacks faster. 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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