Chargebacks are a massive problem in the ecommerce environment.
Card-not-present merchants lose upwards of €40 billion annually in profits, merchandise and fees as a result of chargebacks.
Chargebacks exist as a way for consumers to dispute a transaction they believe is fraudulent, or for which the cardholder believes he or she has been provided with inadequate service.
The most common types of chargebacks – ones in which an unsatisfied customer goes straight to the issuing bank for a refund – are actually more preventable than most merchants probably think.
The following is a Chargebacks911 review with an overview of the company and highlights of special features.
New entrepreneurs and startups are always on the lookout for insider secretes that will give them a competitive edge.
Not all forms of fraud are created equal. While more malicious forms of fraud, such as identity theft, may be well-reported, card not present fraud covers an expansive range of practices.
Merchants concerned about problems related to credit card transactions are likely aware of chargebacks. Many merchants, however, may be confused about the difference between a bank chargeback and a traditional chargeback.
For some people involved in the chargeback process, the only clear aspect is the end result: where the money ends up. For cardholders, this would be a simple refund from their bank.
It seems simple enough. Your customer makes a purchase with their credit card; the money shows up in the bank. Things are going well, until you start noticing chargebacks on your bank statement.
Unlike criminal behaviour where someone breaks into a business and steals merchandise, or hacks into an account, stealing identities and funds, friendly fraud occurs when apparent legitimate customers initiate a transaction and then process a chargeback.
Chargebacks are a blessing for credit card users; they allow cardholders to dispute unrecognised transactions and be protected from possible repercussions related to fraud. For business owners, however, chargebacks can be an inconvenience at best,