Chargebacks911 was recently asked to contribute to the Redde Payments blog, outlining a few best practices for merchants to avoid, prevent, and fight back against chargebacks. Considering that no merchant that takes payments online is ever immune to chargebacks, crafting a multi-tiered defense is key.
Redde Payments is a payment service provider dedicated to providing merchants with high-quality products, and honest support Redde comprises a decade's worth of customer experience and business expertise to power a multi-tiered solutions platform that believes in community, collaboration, and the power of local businesses.
According to the article, chargeback prevention and chargeback representment are really two different aspects of the same process. Both are equally important. Merchants are encouraged to engage in tactical representment to recover revenue and prevent losses in the short term while taking steps to manage risk and prevent chargeback issuances in the long term.
All chargebacks can be traced to one of three fundamental sources: merchant error, third-party (criminal) fraud, or first-party (friendly) fraud. Merchants should fight first-party fraud through representment, then deploy the best practices to prevent chargebacks resulting from error or third-party fraud. This is the key to an ongoing, successful strategy.
