Chargebacks will not only cause you huge losses but also ruin your firm’s reputation among credit card processors. So when trading goods or service through the internet, always make sure you watch out for chargebacks. Because operating a business profitably also means taking measures to ensure you have the fewest chargebacks, here’s a guide through
Online chargeback is a thing that business owners should be wary of when selling services or products online. Are you dealing with chargebacks? What are the reasons? How can you prevent chargebacks? This article will give answers to your questions. What Is a Chargeback? The groundwork for credit card chargebacks is associated with The Truth
An electronic contract, or as a millennial would call it, eContract is a contract a merchant sends to a buyer electronically, more like AdobeSign. You don’t want to miss out on the many benefits of this service. Having a shopper sign an eContract before releasing a product or offering a service can help explain the
Identity theft and fraud cost consumers more than $16 billion per year. A large chunk of this is due to credit card fraud and right in the middle is the business owner. Angry customers tend to vent their frustrations at the merchant, and high-risk merchants experience this more often than others. In order to prevent
Are you bail bonds merchant? Do you deal with higher rates of chargebacks? Are you looking for ways to prevent credit card chargebacks? Just read this article and you’ll learn about several important steps that can help you fight chargebacks. Also, you’ll get to know how to open a bail bonds merchant account fast and
With the number of credit card transaction disputes rising and processing costs and time increasing, Visa introduced the Visa Claims Resolution (VCR) initiative. Effective April 2018, all disputes will be processed through this new global dispute resolution process. By automating and simplifying the dispute-resolution process, Visa hopes to improve the efficiency of handling disputes. Get
It’s estimated that Americans lose approximately $50 billion a year to financial scams, and there are indirect costs like bounced checks, late fees, trouble meeting monthly expenses and even bankruptcy. So, it’s no stretch to say that fraud also results in emotional costs, which are, in fact high. 50% of victims report having felt severe
Approximately 25% of a retailer’s annual returns are associated with the few weeks following the holidays. Product returns are even more pronounced in the eCommerce field. During the 2016 season, 1 out of every 3 purchases were returned. Chargeback Protection Chargebacks are of special concern during the holiday season since eCommerce dominates the holiday shopping
The holiday season is usually as hectic as it is jolly for retailers. Sales generated during the holidays contribute to the bulk of a merchant’s annual revenue. On the other hand, the sky-rocketing demand usually leaves businesses gasping for air. And, as if managing and satisfying deal-hungry customers isn’t overwhelming enough, there’s also the many
The way we do business is gradually shifting towards fast, simple and convenient methods. While this is undoubtedly good for merchants and shoppers alike, it has also introduced new challenges regarding security and fraud. Here are three trends in e-commerce, and how they’re influencing the raging fight against online fraud. Instant Gratification These days, the
