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,
Reason Code 30: Services Not Provided or Merchandise Not Received
A reason code is assigned to each chargeback a company receives. It describes exactly why the dispute was filed. But all the major credit card companies have their own set of reason codes.
Will Excessive Chargeback Levels Unfairly Lead to Your Business's Demise?
Even a single chargeback can negatively impact a business, but when the rate of chargebacks escalates, the business’s longevity is at risk.
Excessive chargeback levels threaten a business’s ability to process credit cards and ultimately the capability to function in the eCommerce environment.
Avoid Chargebacks Associated with Authorization Errors
While fraudulent transactions may be a major contributor to chargebacks, there are other, more avoidable, instigators too.
One area that is troubling to merchants revolves around authorizations. It is essential to get proper authorization prior to concluding a sale.
Make these Mistakes and You Can Expect Chargebacks
For online merchants, it’s likely that chargebacks are already an unpleasantly familiar phenomenon.
However, there’s something you probably didn’t know: simple, in-house business mistakes are likely causing a significant portion of your chargebacks.
From beginning to end, chargebacks are one giant headache—the process is time consuming, difficult to understand, skewed in favor of the cardholder, and expensive.
If you thought the loss of profits, fines, and decreased credibility with your merchant processor was bad,
Is it Possible to Win a Chargeback Dispute?
Chargebacks are the silent killer of online businesses. In order to stay afloat, merchants must integrate representment into their chargeback management practices.
What is Chargeback Representment?