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What chargebacks are, why they happen, who all is involved, and how merchants can fight back.
What happens if merchants receive too many disputes? What are chargeback ratios? Do they matter?
Why merchants are losing the fight against “cyber shoplifting” and chargeback fraud.
The chargeback world has a language all its own. Luckily, the geeks at Chargebacks911 speak fluent chargeback-ese, and we’ve created a resource that translates all that tech-y terminology into everyday language. Full of expert advice and insider tips, this guide explains everything you need to be a chargeback genius.
A good number of credit card transactions end up being reversed. Sometimes that means the consumer returns an item for a refund. More and more often, however, customers are “charging back” transactions through their bank. That hit your bottom line in multiple ways; left unchecked, it can even force you out of business.
If you’re looking to become a chargeback geek, you’ll be in good company. From cardholders and merchants to card networks and banks, the chargeback process involves multiple parties, all obsessed with their respective areas of expertise. You’ll learn the participants, their roles, and how the whole process works.
The process of fighting invalid chargebacks comes with timetables, and deadlines that are inflexible. There are a variety of costs involved, too. Unfortunately, the details will vary according to the bank, the card network, and more. We cover the overall picture as well as some of the specifics you need to know.
The chargeback system is built around reason codes, but as it turns out, those codes are notoriously inaccurate at showing the true source behind a claim. This chapter covers how to find the real reason for a chargeback – including the three basic causes that are behind every single claim.
How much is too much? Card networks are always on guard for merchants with “excessive” chargebacks – in other words, businesses approaching or exceeding the network’s limit. These limits are pre-defined and work on simple calculations. You’ll learn how to find your chargeback ratio, and why it matters.
Chargebacks don’t just attack on one front. A big chargeback problem is actually made up of several smaller problems that all need to be addressed. We address some of the different battles merchants face, and explain why the most obvious parts of the problem are just the tip of the proverbial iceberg.
Effective chargeback management depends on two key components: prevention and representment (contesting invalid claims). In this chapter, you’ll discover ways to prevent chargebacks from happening, and explore why it’s important to challenge them when they do happen.