Chargeback Process for Merchants

Description

Money Reclaim Your Ultimate Chargeback Processing Consultant!

Chargebacks can be costly, let alone time-consuming, and harder to win. For those still in the dark, a chargeback is essentially the process by which a customer’s card issuer is obliged to return payment on a disputed transaction. The chargeback amount is usually deducted from a merchant account, inclusive of all applicable fees.

Chargebacks are some of the biggest risks that merchants have to contend with, as they always cause a win to become a loss in a transaction. While such processes play an essential role in meddling inevitable disputes, they are not so popular among merchants.

To stand a chance to win a chargeback no matter how difficult or impossible they may seem, then Money Reclaim should be your trusted partner. Not all chargebacks are legitimate, which essentially raises the risk of merchants being scammed by unscrupulous clients.

While merchants have limited protection when it comes to fighting chargebacks at Money Reclaim, we strive to ensure that our clients end up with the best deal as part of any dispute process. We also strive to ensure that rights and responsibilities touching on merchants, as well as customers, are well articulated to ensure fairness to everyone.

We will take you through the representment process whereby, as a merchant, you stand a chance to rebuttal a chargeback sent back to the issuer. As your representative, we will ensure you respond and present evidence in fighting back any illegitimate chargeback.

While representing our clients in fighting off chargebacks at Money Reclaim, we also advise on the best practices for minimizing chargebacks. Identifying business billing statements as well as making an effort to educate customers about the cancellation and return policies are some of the options that merchants can use to reduce chargeback claims.

Merchants are also advised to maintain detailed transaction logs as well as obtain proper authentication such as customer signature and CVV codes. It is also their responsibility to ensure they collect as much information as possible for validating each transaction.

If faced with any problem pertaining to fighting off chargebacks or minimizing their occurrence, be sure to contact Money Reclaim.