Chargeback Expertz

World of payment is advancing technologically, it has increased possibilities for cardholders and merchants to connect globally. Cardholders can make payments while using mobile devices, and enjoy multiple payment methods at a time. Technological advancement has made easy to detect and protect data with the help of tools and strict policies. Online frauds have cost billions of dollars to companies, cutting their earning dramatically. Online and offline frauds are increasing rapidly, with each retailers losing at least $3 for every fraud they incur in the year 2014. This was $2.79 in 2013, especially mobile frauds which are driving these costs higher each year. How E-commerce Mitigate Fraud? It is a challenging task to entirely eliminate frauds, but necessary steps can be taken to ensure the network is secure. Security protocols, antiviruses, and firewalls can help protect against hacking attempts.Updating software problems ensure sensitive data of business is safe. ...

There are many things to consider to ensure business longevity, and merchants need a proactive approach to deal with chargebacks. If resources are not used to avoid chargebacks , then business tagged as blacklisted, and it can lead to a loss of revenue. Here are some steps that merchants need to consider to avoid chargebacks: Conduct AVS check and process orders that are valid Obtain evidence of shipping receipts and documentation Consider using MasterCard’s security code or verified by visa. This will provide extra protection and solidify your position when representing. Require cardholders to provide CVV2, CID, and CVC2. Refund as soon as possible and notify the cardholder in writing once issued, or when online membership is canceled. Show clear descriptor, mentioning phone number so that cardholder can contact to discuss the dispute. Provide email address on the website so that cardholders can contact you when there is a dispute situation. State the terms and condition...

Your payment processor can help avoid chargebacks using tools such as verified by Visa, CVV, and AVS for preventing frauds. In addition to these, there are measures they consider to reduce the number of chargebacks . Here is list of things that you can expect: There are many players in the overall process, the card brand, card owner, payment brand, processors, and the merchant. If a customer has a reasonable claim then card brand will send a temporary credit to the card owner and the process of chargeback starts. The funds are debited from merchant’s account during the process. There will be a notification via mail, fax, or online management system about the chargeback. If you submit documentation on time and challenge the chargeback successfully in time assigned to you, then funds will be returned. But if documentations are not submitted, then you won’t get funds. These were things that you can expect from banks that will handle your case, here is how your processor can hand...

If you are engaged in e-commerce and if you accept online payments from your customers, chances are, you can experience chargeback . In case you do not know, chargeback refers to a reversal in a payment that has been previously made. This seeks to protect buyers from the unscrupulous transaction, but it can have negative impacts on your business. The good news is that there are several ways that can be promising in terms of the prevention of such occurrences. One of the most promising solutions to stop chargeback would be through having exceptional customer service, specifically through offering the support that is needed by customers. Be Available Round-the-Clock As a way of improving customer service, it will be good if you can be available 24/7. This means that even outside of office hours, you must be able to provide customer support. You can consider having phone lines that are available 24/7. By being able to respond quickly to the queries of your customers, it will be ...

E-commerce can utilize technology to prevent cybercrimes. Here are some features that a business can adopt to keep the business safe from hackers. Many businesses have to fight Cyber Crimes on a daily basis; there is no organization which is immune to Cyber Crimes. Just like any regular crime, criminals known as hackers steal your vital information and valuables when you are not paying attention. There is a rise in E-commerce and online technology, more and more companies are using the internet to do business. You probably will need a website to sell products and a merchant account as the bridge for money transfer. If security is not checked on a regular basis, you may face chargebacks or fraudulent transactions. If you are selling products, then there may be critical financial data stored on your server. Websites help businesses to keep a record of various documents & statistics, but this data also attract cybercriminals. In simple terms, these people want to launch an at...

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