Chargebacks911® COO is a World-Leading Subject Matter Experts
Chargebacks911 COO Monica Eaton-Cardone provides the basics covering what a chargeback is, how much it costs, and how to prevent them in a recent feature for Business.com.
Business.com’s mission is to help people grow their business, plain and simple. Millions of professionals in growing companies rely on Business.com to acquire the knowledge necessary to run their businesses through a large community of business owners, marketers, and sales experts.
As explained in the post, chargebacks occur when a cardholder requests reversal a credit card charge that has been posted to their account. It seems simple enough, but chargebacks are a complex issue. And, if left unaddressed, chargebacks could cause serious damage to a business.
"Banks gauge a merchant's risk and reliability on the number of chargebacks they receive," Monica explained. "Multiple chargebacks on a regular basis can lead to even greater merchant challenges down the road. Merchants are essentially 'guilty until proven innocent.' Chargeback fees and reimbursements are deducted from the merchant's account automatically – no questions asked."
Chargebacks can develop into a costly source of loss, and may even jeopardize your business’s survival. That’s why it’s so important to seek out the best solutions to manage this threat effectively. As Monica explains, "The best is a turnkey chargeback management system covering the entire chargeback process."