Preventing, Reducing, and Eliminating Chargebacks
Our chargeback prevention and dispute re-presentment services are teaming up with Ethoca and Verifi to provide chargeback alerts! Combining Verifi’s CDRN service and Ethoca Alerts with our high risk merchant expert analysts is a union that brings forth a solid preventive platform all in one place and on one bill.
How does Chargeback Prevention works
Steps to apply for Chargeback Prevention And Dispute Re-Presentment Services:
Apply high risk merchant account with us
Submit your application for chargeback prevention services once your high risk merchant with us is approved.
Our merchant specialist will contact you to setup chargeback prevention and dispute re-presentment services, and start monitor chargeback transaction and customer dispute request.
What is Chargeback?
A chargeback (reversal) is a form of consumer protection provided by the customer's credit card issuing banks, which allows credit card cardholders to file a complaint regarding fraudulent transactions with their account. Once the credit card cardholder files a dispute, the issuing bank makes an investigation into the complaint.
If the questioned transaction is proven to be indeed fraudulent, the issuing bank will refund the original value of the credit card transaction back to the cardholder. If the merchant do not prove the transaction to be legitimate, the credit card issuing bank will take back the entire value of the fraudulent transaction from your bank account, along with an additional chargeback fee. This chargeback fee will range from $10 to $100, depending on the merchant bank sponsoring your merchant account.
If the credit card holder complaint is proven untrue, no refund is requested from the merchant, though additional processing fees may be charged. It is best for merchant account not to get involved with chargebacks. With fraudulent transaction, the merchant take the high risk of losing products or services that have already been sold, the payment, the fees incurred for payment processing, money for chargeback penalty, losing their merchant account, or even possible commissions for currency conversions. Merchant accounts receiving too many chargebacks can be labeled by credit card companies as fraudulent, and this can be potentially damaging to the image and the existence of your business. High risk merchant account are most likely categorized into high chargeback potential businesses.
Reasons for Chargeback
These are the circumstances that you also need to avoid the chargeback.
The Chargeback Process
Here is the entire process laid out in a step-by-step manner:
Chargebacks can cause many problems for a high risk merchant. The credit card industry has made it easier for consumers to file chargebacks and transaction disputes, while the high risk merchants are left with little industry support, if any.
The only route for high risk merchant to avoid the chargeback is to avoid these situations as much as possible. Our chargeback prevention, monitoring and dispute re-presentment service is created for this exactly purpose.