Chargeback Expertz

Chargeback Expertz is a Detailed Risk Management Company helping Retail and Online Merchants. website https://www.chargebackexpertz.com/

Effective Chargeback Representment For High Risk Merchant

 

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Chargeback is a mechanism by which a cardholder claims the merchant and calls the credit card issuer to dispute a transaction . Cardholder may have various reasons to raise a dispute against the transaction like: goods and services never supplied to the customer, defective merchandise received by customer, refund not processed to customer, merchant used expired card and so on.

The Merchant needs to give explanation about the amount debited from cardholder account.

 

What is Chargeback Representment?

Chargeback Representment is a term for providing Packet of Evidence as per Reason Codes to acquiring bank or the Credit Card Company that shows that the transaction was made with full knowledge of the cardholder and also shows that cardholder agreed with all the Terms and Conditions which was displayed before buying the Product or Services. Representment also includes the information if there is any Refund/Partial Refund issued to Cardholder.

When a Customer or Issuing Bank issues a chargeback, merchant gets information from acquiring bank with a deadline to either represent or accept. If a merchant is ready to represent, he would have to provide all the information regarding the transaction in a single packet. Acquiring Bank will then send evidence to the Issuing Bank, where a team of expertise will examine all the evidences and when the team gives a verdict in the merchant’s favor, the chargeback will be reversed and if the team is not satisfied with the submitted evidence, the particular amount is then deducted from the merchant’s account.

 

Tips on effective Chargeback Representment:

 

  • Spot the Reason Code and collect evidence according to it.
  • Collect all the evidence which was provided to customer at the time of sale and arrange in a single packet.
  • Always highlight Important key proofs like: order id, tracking number, customer’s email id, IP address, order confirmation etc.
  • Provide proof of Refund if Customer refunded before disputing the Chargeback.
  • Provide all evidence which was signed by Customer before buying the Services.

 

Issues that stop you from a perfect Chargeback Representment:

 

  • Important issue is time frame; Merchant should send all evidence before the deadline.
  • Provide all evidence according to the reason code, there is no chance for mistake.
  • Show all the agreement(s) signed by customer in a proper manner.
  • Provide refund receipt as a Proof of Refund

IMPORTANCE AND USES OF CHARGEBACK REPORT

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Analyzing data iѕ рrоbаblу thе lеаѕt favorite task оf mоѕt business owners. However, data review iѕ essential whеn it соmеѕ tо chargebacks. Compiling аnd analyzing оf chargeback report iѕ uѕuаllу thе оnlу wау tо kеер risk undеr control. Merchants саn bеttеr understand hоw thеir business practices factor intо thе consumer’s actions ѕinсе customer satisfaction iѕ a key component оf successful chargeback management. A chargeback report will hеlр merchants identify problems in thiѕ area, enhance sale conversions, аnd increase revenue. A chargeback report iѕ a reliable tool thаt helps merchants quickly assess аnd evaluate risk, liabilities, strengths, аnd weaknesses. Merchants саn easily turn thаt information intо actionable tasks. Reports оf thiѕ type саn оftеn point оut flaws аnd issues a business owner wouldn’t hаvе оthеrwiѕе noticed. In general, аn effective reporting system will hеlр merchants:

  • Create a mоrе effective chargeback prevention strategy
  • Successfully dispute chargebacks and recover mоrе revenue
  • Improve thе merchant’s reputation at the issuer level
  • Predict сhаngеѕ аnd trends
  • Decrease fraud

Thе timeline fоr filing a chargeback dispute iѕ vеrу short; merchants uѕuаllу nееd tо rеѕроnd within 5-7 days. Thаt doesn’t leave muсh timе tо carefully analyze thе situation. Chargeback ratios аrе calculated еасh month. If merchants aren’t aware оf thеir сurrеnt chargeback rates, thеу соuld suffer severe consequences if things аrе worse thаn thеу suspected. It iѕ absolutely essential fоr merchants tо routinely review thеir chargeback reports аnd bе aware оf threats аѕ thеу arise. It iѕ wеll proven bеуоnd doubt thаt chargeback management demands a dynamic approach. Tactics оf thе past, nо matter hоw successful thеу were, аrе nоt capable оf handling today’s threats. Thе оnlу wау tо adequately address a merchant’s nееdѕ iѕ tо understand еvеrу minute detail оf thе business’s chargeback activity.

CHARGEBACK RESPONSE CODES

Eасh chargeback iѕ accompanied bу a rеаѕоn code. Thеѕе numeric codes diffеr bу card network, but аll theoretically serve thе ѕаmе purpose: tо dеѕсribе thе motivation bеhind thе transaction dispute.

Hоw tо explain chargeback response codes bу thе thrее mаin саuѕеѕ оf chargebacks

Chargeback Rеаѕоn Codes Aѕѕосiаtеd with Friendly Fraud: Chargeback fraud iѕ commonly referred tо аѕ friendly fraud bесаuѕе thе assault соmеѕ frоm a traditionally non-hostile enemy–the merchant’s оwn customers. A customer contacts thе bank tо inaccurately report a genuine charge аѕ fraud. Mоѕt merchants view thiѕ аѕ a fоrm оf shoplifting. Whilе thеrе аrе instances whеrе thе fraud might hаvе bееn accidentally committed, consumers оftеn set оut with thе intention оf gеtting ѕоmеthing fоr free?

Chargeback Rеаѕоn Codes Aѕѕосiаtеd with Merchant Error: Mоѕt merchants assume thеу аrе innocent whеn it соmеѕ tо chargebacks. In reality, a merchant’s faulty involvement in thе transaction process саn lead tо a significant amount оf chargebacks. In fact, thеrе iѕ mоrе rеаѕоn codes аѕѕосiаtеd with merchant error thаn аnу оthеr cause. Thе good news is, thе majority оf thеѕе chargebacks аrе preventable. Thе merchant whо iѕ willing tо exert a littlе extra effort аnd fоllоw business bеѕt practices will reduce chargeback-induced profit losses.

Chargeback Rеаѕоn Codes Aѕѕосiаtеd with

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Criminal Fraud: Determined fraudsters аrе everywhere. Bесаuѕе fraud саn саuѕе significant profit losses, it iѕ important tо recognize potential fraud аnd tаkе thе nесеѕѕаrу steps tо prevent it frоm happening.

Rеаѕоn codes аrе аn essential element in thе management оf chargebacks. Thеу make it роѕѕiblе fоr networks tо regulate things likе timе limits аnd compelling evidence. In theory, rеаѕоn codes аlѕо hеlр merchants understand thе consumers’ grievances whеn thеу originally disputed thе transaction. However, consumers hаvе learned hоw tо exploit loopholes in thе chargeback process. Rеаѕоn code intelligence isn’t аѕ powerful аѕ it ѕhоuld be.

Please Don’t! Filing a Chargeback on Credit or Debit Card Purchases?

Mostly the consumers are unaware of the fact chargeback is. Chargebacks are refunds to the cardholders also known as reversal of amount paid during ecommerce business transaction by the issuing bank for fraudulent transaction on the bank statements of which cardholders are unaware.

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Once the customer file complaint or raise dispute with issuing bank, the bank investigate into the same. If the customer claims proves to be untrue the refund is not initiated to the customer and money is not asked from the merchant. On the other hand, Merchants are given the time to dispute the claim of the customers by providing supporting documents regarding the purchase. If the merchant does not respond to the dispute within time, the funds are automatically awarded to the cardholder.

Dos and Don’ts

Cardholders can request a chargeback if they have actually suffered from the fraud. It means their card is either stolen or card sensitive information is stolen and is being used by some fraudsters. Otherwise chargeback will be in favor of the merchant only as it is. Merchant will be providing all the compelling proofs and evidences and merchant will be winning the case. If you are unable to follow the chargeback process because of its complexity you can contact chargeback Expertz, a mediation firm that will secure a refund on your behalf.

Even if the transaction was unauthorized, it still might be better to deal with the merchant directly. Filing a chargeback or not is you decision, but do have a word with your bank before filing the chargeback. Although it is always preferable to contact the merchant and not get into complexity.

Chargeback can be Disputed for various reasons, don’t dispute chargeback because of wrong reasons

These days customer prefer to go directly to the bank instead of contacting the merchant. Filing a chargeback is easy, you will get your money back also for a temporary basis. But think once, why would merchant does not like to keep its customer happy. They always want to keep the customer happy.
If you regret making a purchase, return the product or cancel the service. If you keep the product and get a refund, that’s shoplifting. You’re not really a thief, right?!
If you are unaware about the purchase, the shopperconsented the transaction. Therefore, you shouldn’t call the bank and say transaction was unauthorized.
Get more information visit website www.chargebackexpertz.com and ask any question for chargeback related.

How to get Merchant Account in United States, If you not Resident's

Today, businesses are expanding their reach to global level that is helping them to grow with a much faster. This expanation of business has been observed due to the advent of technology. Technology also have help businesses to create a point of sale that can be accessed from anywhere in the world and customers can order online and pay through their cards.

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But, one problem that business can face if they don’t have experience of selling and sending goods to other countries is their lack of physical presence in that country. As all the countries have their own laws and requirements for starting a merchant account. But, in this article we will discuss only the requirement and ways to get a merchant account for a business that is not registered in United States and like to sell their products in the country.

The basic requirement of getting a merchant account in U.S. these conditions has been fulfilled:

The business needs to have a registered “Doing Business As” name (DBA) that proves that the business is incorporated in United States.
A physical address of the business that an applicant must provide.
A bank account in the U.S. Bank should be registered in the name of applicant’s name.

These are must required details an applicant needs to provide while applying for the merchant account in the United States.

But, a business that is registered in any other country have one option is to set up a corporation with the U.S. based company by signing a contract with them, stating that the company incorporation will act as the company of U.S. that handles the entire sales, shipping and collecting payment process of the business done in United States. This type of incorporation will work, but one that comes with incorporation is adding a business partner in the working, which much business may not like to deal with.
If the company decides to have a separate and permanent account in the name of the business or owner without any incorporation. For a dedicated account, there is a need of an agent who is registered as incorporated member of the business.
That will help businesses to prove that they have a bank account registered in United States, which will help business to acquire the payment of their transactions that will be done in United States.

For this if the company has an agent in United States the company can have account easily. But, if the company doesn’t have any reach in the country, there are companies like Merchant Stronghold, in United States that can help businesses to set a merchant account. You can contact for more information +1 855-465-4723.

Get Merchant Account for your Debt Consulting Business

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Do you have a debt consulting business? Then you should consider getting a merchant account right now. Processing online payments or credit card payments can be very demanding to begin with, which is why we are here to help you with all of that. As a dedicated merchant account provider, we are here for you and we are offering high quality, professional services that you will enjoy and appreciate right from the start. The value offered here is very impressive to begin with; all you have to do is to invest in a good merchant account as it can bring in plenty of value for your business.Do you have a debt consulting business? Then you should consider getting a merchant account right now.

Processing online payments or credit card payments can be very demanding to begin with, which is why we are here to help you with all of that. As a dedicated merchant account provider, we are here for you and we are offering high quality, professional services that you will enjoy and appreciate right from the start. The value offered here is very impressive to begin with; all you have to do is to invest in a good merchant account as it can bring in plenty of value for your business.

Why do you need a merchant account? There are plenty of reasons why you might need one. Not only does this help you generate more value for your money, but at the same time the return investment is great. You basically get to integrate credit card processing and a credit card terminal into the entire experience to begin with. That’s what really manages to make the solution stand out. Having check processing or credit card processor options can really allow your business to generate more clients.Plus, you have to think about the consumer convenience.

This is very important for you and it will bring in front a very immersive and fun experience to begin with. At the end of the day, the ability to explore offer consulting services to your customers is very important, but so is the ability to get paid online or via credit cards. For this you need a good point of sale system and a dedicated merchant account that will be able to process all of these tasks as fast as possible.Is it easy to do this on your own? No, you just can’t manage and track all payments properly; it can be very confusing and challenging. On the other hand, you will see that having a merchant account can help bring you new clients and even generate return clients as well.It’s very hard to find a good set of features that can help you deal with online payments. Thankfully, a merchant account will be able to help you do that as fast as possible. It will not be easy to do that at first, but in the end that’s what makes the experience worth it. Plus, the fact that you will be able to offer great merchant services to your customers is also very important.

This can really help bring in front a much more refined experience and you do want that to happen for sure.So, you should definitely consider having a merchant account for your debt consulting business. It’s not easy to do that, true, but results will be very impressive to say the least. Keep in mind that a merchant account and a good payment processing solution will broaden the payment arrays that you can offer to your customers. Do try and integrate the best payment processor solutions to your customers and results will be extraordinary all the time!Get more information visit website – www.chargebackexpertz.com

A Cardholder can challenge the transaction dispute, if decision is ruled in favor of Merchant

With advent of technology, growing usage of ecommerce by merchants to sell goods on global level. It is been observed that the people have started taking the privilege of paying through cards, as the service provided by the ecommerce websites. But, very few aspiring merchants know that a customer can ask for refund within three month of transaction for any reason like not recogainizing the transaction, not satisfied with the product or service, merchandise not delivered or with the intention of frauds.

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This dispute of transaction and asking the money back for any given reason is called Chargeback. For customer chargeback, if a customer feels that the merchant is cheating for any reason, customer directly contacts to the banks for the refund of the transaction. Though, in many cases, the bank places a conference call between merchant, customer and the cardholder’s bank to see if merchant and customer can resolve the problem. If the customer is not satisfied with the merchant’s conversation, they ask finally ask for the money back. For this reason, the cardholder’s bank issues the credit for the cardholder’s account. Asks merchant account bank to issue a debit for the merchant account the cardholder’s bank also issues the requirement of document for the merchant, if the merchant likes to fight the chargeback and can prove that customer’s reason for refund is not valid.

Merchant have limited time to respond to fight chargeback and to provide legal documented proofs to the cardholder’s bank. If the proofs examined as valid documents, the credited amount to the customers is take back again and is given to the merchant again. As the decision about chargeback is ruled in favor of merchant, the customer/cardholder has the right to file the second chargeback on the transaction; this is called the “Pre-Arbitration” in VISA’s chargeback process and “Second Chargeback” in MasterCard chargeback process. For this, the merchant have to repeat the same process for fight again for the transaction to be proved as valid.

To fight chargeback, merchant’s need to be active for Representment every time the bank issues the request of documents. Delay in representment many times results in loss of charges of the product from the merchant account. This option of repetitive filing of chargeback is the drawback of this internet transaction method. Many people try to take advantage of this clause of repetitive dispute of transaction. As fraudster develop new ways of cheating the merchant, and this repetitation of filing chargeback is one of them.

Chargeback Reason -Non-Receipt of Goods or Services Explained

The reason for such chargeback (Non-Receipt of Goods or Services) is when a customer claims that they have paid for the items, but have not yet received or that the order was cancelled by the cardholder as a result of non-deliverance, late delivery or the customer was unavailable for pick-up.

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For better understanding let’s look at this example:
Ashley ordered a product from an e-commerce website where the merchant mentioned that they deliver products within 15 days, but somehow Ashley didn’t get the product neither she received any notice from the merchant. Now, Ashley can dispute the charge as per the chargeback reason- Non-Receipt of Goods or Services.

The most common reasons for such chargebacks are:

  • Services not provided to the Customer.
  • Merchandise/Goods not sent to the Customer.
  • Billed for the Transaction before delivery.
  • Merchandise/Goods not delivered to the Customer by the agreed-upon delivery date.

Guidelines to prevent or respond to Reason-Non-Receipt of Goods or Services:

  • Always provide Proof of Delivery of particular Merchandise/Goods.
  • Always provide shipping date and delivery date with Shipping Address.
  • If Merchandise/Goods is going to be late, send a notification to the customer and verify if the customer is comfortable with the new delivery date.
  • If chargeback was processed less than 15 days from the transaction date and meanwhile POD is in-transit, then provide transaction receipt as a proof.

For more information or to learn how Chargeback Expertz can help you prevent chargebacks of Reason- Non-Receipt of Goods or Services in particular, visit us at ChargebackExpertz.com. Chat with us and let us know how we can help your business grow by preventing chargebacks.
visit website www.chargebackexpertz.com