登录查看更多内容

How do merchant services providers handle chargebacks?

由人工智能和领英社区提供技术支持

Chargebacks are a common challenge for merchants who accept credit or debit card payments from customers. A chargeback occurs when a customer disputes a transaction with their card issuer and requests a refund. Chargebacks can result from fraud, errors, or dissatisfaction with the product or service. Merchant services providers are the intermediaries that process card payments and facilitate the transfer of funds between merchants and card issuers. How do they handle chargebacks and what are the implications for merchants? Here are some key points to know.

此文章中的业界达人

由社区从 2 条内容中精选。了解更多

Adam Weizer

President @ Servistree.com Payment Systems & Servistree Insurance Agency | Business 2 Business Payment Consultant |…

1 Chargeback process

When a customer initiates a chargeback, the card issuer notifies the merchant services provider, who in turn notifies the merchant. The merchant can either accept the chargeback and issue a refund, or challenge the chargeback and provide evidence to support their case. The merchant services provider acts as a liaison between the merchant and the card issuer, and submits the evidence to the card network (such as Visa or Mastercard) for arbitration. The card network then decides whether to uphold or reverse the chargeback.

添加您的观点

2 Chargeback fees

Chargebacks can be costly for merchants, not only because they lose the revenue from the disputed transaction, but also because they have to pay fees to the merchant services provider and the card network. These fees vary depending on the provider, the network, and the type of chargeback, but they can range from $15 to $100 per chargeback. Some merchant services providers may offer chargeback protection or insurance, which can reduce or waive the fees in exchange for a monthly or annual premium.

添加您的观点

3 Chargeback prevention

In order to avoid chargebacks, merchants should take proactive steps, such as providing clear and accurate product or service descriptions, terms and conditions, and return policies on their website or invoice. Moreover, secure payment methods and fraud detection tools should be employed to verify the identity and authenticity of the cardholder. Furthermore, merchants should communicate with customers before, during, and after the transaction, offering confirmation, tracking, and delivery information. Additionally, merchants should respond to customer inquiries, complaints, and requests promptly and professionally, offering refunds or exchanges when appropriate. Lastly, recognizable and consistent business names and contact details should appear on the card statement.

添加您的观点

Lennart H.

Zahlungsabstimmung. Einfach, digital & transparent ???? ?? #PaymentReconciliation #SalesManagement
举报内容
Hilfreich ist sicherlich ein fundierter KYC/Onboarding Prozess beim Zahlungsdienstleister in dem auch die zB der Webshop ausführlich geprüft wird. Unerl?sslich jedoch Bonit?ts- und Betrugsprüfungen auch H?ndlerseitig zu implementieren.

已翻译

赞

4 Chargeback management

Chargebacks are an unfortunate reality of accepting card payments, but merchants can take steps to manage them effectively. This includes monitoring and tracking chargeback rates and reasons, as well as selecting a merchant services provider that offers reliable and responsive chargeback support. Additionally, merchants should keep records and documentation of every transaction, such as contracts, invoices, receipts, signatures, proof of delivery, and customer correspondence. Lastly, merchants should evaluate the cost-benefit of disputing chargebacks to decide which ones are worth fighting and which ones are better to accept. With the right strategies in place, merchants can minimize the impact of chargebacks and protect their bottom line.

添加您的观点

Adam Weizer

President @ Servistree.com Payment Systems & Servistree Insurance Agency | Business 2 Business Payment Consultant | Employee Benefit Provider | Group Life Health and Disability Insurance
举报内容
Chargebacks are an unfortunate reality of accepting card payments, but merchants can take steps to manage them effectively. This includes monitoring and tracking chargeback rates and reasons, as well as selecting a merchant services provider that offers reliable and responsive chargeback support. One of the differentiating factors of our payment processing services is that our dispute resolution department works on behalf of our merchant/clients to fight on their behalf not the card brands. Merchants should keep records and documentation of every transaction, such as contracts, invoices, receipts, signatures, proof of delivery, and customer correspondence.

已翻译

赞

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Financial Services

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How do merchant services providers handle chargebacks?

1

2

3

4

5

1 Chargeback process

2 Chargeback fees

3 Chargeback prevention

4 Chargeback management

5 Here’s what else to consider

Financial Services

给文章评分

感谢您的反馈

更多Financial Services相关文章

更多相关阅读内容