Chargeback Guide For Merchant

Chargebacks are the issues that a merchant faces on a regular basis. Chargebacks are the one which is treated by the expertise and are hence they are cured by them as well.

The business should be well treated and the merchant should feed the business accordingly.

Chargebacks occur on a regular basis and hence the merchant should be aware of the repeat problems he is facing throughout.

Once the chargeback is filed against the merchant from customer the process itself starts. The cycle starts from the customer to the merchant involving the banks itself.

Process Includes These Parties

The Customer – The customer is a cardholder who purchases from the merchant. There are many reasons for the customer to file a dispute if he sees an unrecognizable transaction or does not recognize the billing descriptor. Each card network guarantees zero-fraud liability to its customers.

Issuing Bank – The issuer provides payment cards to the cardholder. Some examples include credit and debit cards. The issuer is the underwriter of the account. That means it is responsible to disburse funds to the merchant from the customers.

Card Network – Visa, MasterCard, American Express and Discover are the four major card networks globally. Each of them provides a transfer facility between issuers and acquirers. They also provide settlement facility between both the parties.

Acquiring Bank – The acquirer is the party responsible for acquiring authorization through the card network. Acquirer receives funds on the merchant’s behalf from the customer’s issuing bank. The acquirer settles the funds collected from the processing fees, network fees, and interchange fees.

Merchant Account Processor – The merchant account processor is a service provider that partners with an acquirer. It provides services as process payments on the merchant’s behalf.

Merchant’s Commercial Bank Account – The acquirer receives the funds from the issuer through the card network’s settlement process. The funds are deposited into the merchant commercial bank account. The merchant commercial bank account is the destination of funds transferred from a cardholder.

The Merchant – Company or business who provides goods or services in exchange for money.

Merchant Loses to Chargebacks – Losing to chargeback dispute is worse than chargeback itself. Because merchants just don’t lose the amount that is disputed but also loses money as chargeback fees and in most cases product also. Moreover, the merchant loses time from fulfilling delivery and more.

Preventing Chargebacks – Merchants honesty is a virtue, which reduces chargebacks to 80%. This is providing quality to the customers, in order to prevent chargebacks merchants, should consider the following points:

• Excellent customer support

• Proper return policy

• Accurate product descriptions and billing

• Accurate results of the product or services.

• Have a conversation with the customers including documents.

Chargeback Expertz

Chargeback Expertz is the one which gives the whole platform to explore for the merchants, right from handling chargeback process, chargeback representment, merchant account analysis, Winning and getting alerts. All under one shelter. Call Us +1 855-465-4723 or mail us at app@chargebackexpertz.com