Get The Best Chargeback Prevention With EMB

Mar 21, 2016

Card-not-present or CNP merchants know that chargebacks may cause frustration and cost them a lot. In most card-present or CP chargebacks, issuing banks bear the responsibility to repay cardholders. In card-not-present transactions, merchants are liable for repaying cardholders.

Chargebacks And Disputes

When customers file a credit/debit card transaction dispute with their bank, this results in chargebacks. The situation becomes problematic if the merchant isn’t informed about the issue so to take part in the process. Also, when the merchant is informed too late.

Statistics show customers mostly don’t let the merchant know about the dispute. Merchants are not informed about pending disputes in 58% of all cases. So merchants don’t get any opportunity to defend themselves against the initial chargeback.

On the other hand, there is an interval between the transactions and the time consumers get their purchase. As a result, card-not-present merchants accumulate more chargebacks related to services.

To protect your business against chargebacks, put all your efforts to prevent them. Consider turning to a reliable processor like to get the best for chargeback prevention. EMB, #1 high risk payment processor in the US, offers advanced systems to prevent chargebacks. EMB’s Chargeback Shield program reduces the frequency of chargebacks by 15-30%.

How Merchants Can Reduce Their Losses

To reduce losses, merchants should respond to chargebacks as soon as they appear. No matter, chargebacks can or cannot be reversed, the amount of chargebacks issued to your company should be reduced.

According to Lisa Tennant, vice president of Business Operations at Verifi, it is important to analyze chargeback data. Chargeback details should be analyzed to determine common trends and detect gaps in their order acceptance and in the processes of verification. Thanks to such analyses, you’ll be able to get the best insight into the case and make improvements.

Chargeback prevention counts for other benefits as well:

  • Better fraud prevention
  • Higher revenue retention
  • Improved customer service processes
  • Less time spent responding to chargebacks
  • Reduced labor costs spent responding to chargebacks
  • Reduced chargeback fee losses

With card brands, chargebacks can be up to 1% of sales. Even this 1% can bring large losses for many companies.

Your company will lose its profits because of higher chargeback rates. Be proactive to prevent chargebacks. With EMB, you can get notified of chargeback disputes and take steps immediately.

Partnering with Verifi and Ethoca, EMB has created an unmatched alert and prevention system to help you protect your business.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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