#chargebackfights

[fraudprevention-blog1]

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 [phone] or chat via Skype by visiting www.chargebackexpertz.com

[fraudprevention-blog1]

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 [email protected] or call us at [phone] we are available round the clock.