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Five Ways to Protect Yourself From Chargebacks

Written by admin on . Posted in Charge backs, Credit cards, Moto transaction type

Protection

No matter what type of merchant you are or what industry you’re in, there’s one thing that all merchants have in common: the plague of chargebacks. You make a sale. You send the merchandise to the customer. The money is in the bank. You go about your life. But wait? Suddenly, your payment processing company contacts you with a frowny face. That totally legit business transaction that you processed suddenly went awry and now you have to return the money.

Sometimes the customer says there was something wrong with the product. Sometimes the customer claims they never received the merchandise. Sometimes the customer claims that they never made the purchase to begin with. Whatever the reason, banks do very little to protect merchants from unfair or fraudulent chargebacks. While chargebacks are a sad part of mer