The Perfect Customer Service Response to Chargebacks
Chargebacks are considered to be a friction point between merchants and customers. But it doesn't have to be with the perfect customer service response.
Chargebacks are considered to be a friction point between merchants and customers. But it doesn't have to be with the perfect customer service response.
Understanding chargebacks is not that straightforward and it generates a lot of gossip, misinformation, and myths.
What is the true cost of chargebacks? “How much?” is a common yet tough question to answer, especially in the payments industry.
Arbitration chargebacks are the "ugly divorce" of transaction disputes. It means you have exhausted all reasonable recourse to resolve a dispute.
Lots of our competitors out there want you to believe you can achieve chargeback reversals through representment, but that's fake news.
To a cardholder, the difference between a chargeback and a refund is merely semantics; to them, the end result for them is the same.
Let's look at what happens when a customer disputes a purchase. For many merchants, their understanding of this process begins and ends with chargebacks.
The chargeback is a complex dispute process that is mostly hidden to the merchant. This process is in dire need of an update to improve communication.
Representment is the process by which merchants can dispute a chargeback and recover the revenue at stake.
So many business don’t take the necessary steps to prevent chargebacks and fraud from happening, or they take action when it is already too late.