Chargeback Reason Code 53: Not as Described or Defective Merchandise
Chargebacks are designed to give card users peace of mind while buying services and merchandise with their credit cards. Visa chargeback reason code 53 is one example of the explicit ways in which chargebacks protect consumers and ensure accountability of merchants.
The payment processing industry is constantly evolving and changing. New technologies and policies can quickly make previous practices outdated.
As of April 2013, Visa has discontinued the use of Visa chargeback reason code 60.
Price-Match Scam Targets Retail Giants Walmart and Amazon
Since the popularity of eCommerce shopping has skyrocketed, brick-and-mortar stores have struggled to compete. Recently, Walmart found a creative way to stay one step ahead of Amazon—their primary competition.
Chargeback Prevention: Reduce Key-Entered Transactions
For business owners with a brick-and-mortar store, chargeback prevention is fairly easy. Chargeback rates tend to be much lower for transactions made at a physical store rather than online.
Preventing Chargebacks with Code 10 Authorization Request
Credit card fraud can occur in both card-present and card-not-present transactions. Generally, card-present transactions, which occur face-to-face, have lower rates of fraud--which means that fewer chargebacks result.
When Your Marketing Causes Chargebacks
Marketing is an essential element for any business's success, but an ineffective tactic can just as easily become a liability instead of an asset. It's important for businesses to understand how bad marketing causes chargebacks and revenue loss.
The Correlation between Social Media and Chargebacks
Social media not only shapes the way we interact with friends, it also impacts the way we do business. For this reason, business owners and marketing professionals need to be aware of how social media can help or hinder chargeback management.
Chargebacks Associated with Counterfeit Transactions
Many chargebacks are the result of fraud. However, there are certain actions, or lack thereof, on the merchant’s part that can lead to disputes.
Counterfeit transaction chargebacks are usually a combination of these two factors.
Friendly Fraud is Online Shoplifting
The idea of online shoplifting may sound a bit farfetched--inconceivable even. But essentially, that’s the most accurate way to define what is now being labeled “friendly fraud.”
A new trend is taking shape among credit card shoppers;
Preventing Chargebacks Resulting from International Orders
The internet is a great tool for connecting buyers and sellers from around the world; however, that degree of global connection comes with greater risk of fraud.
When going global via the internet,