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What Every Business Owner Needs To Know About Chargebacks

Written by admin on . Posted in Charge backs, Merchant account providers, Moto card processing

Charge backs

Even the most secure payment options can have some minor problems whenever card not present transactions are involved, so it’s important to understand exactly what a chargeback is all about and how your payment processing system can be bolstered to reduce the risk of chargebacks:

What is a chargeback anyway? Chargebacks aren’t the same thing as returns, where the item was delivered to the customer but the customer wasn’t happy with it. Chargebacks occur when the customer believes a fraudulent charge was made with his or credit card number or if the customer placed an order but the item was never delivered.

Who pays for chargebacks? The businesses often end up paying for chargebac