Each month, your bank or payment processor adds up all the chargebacks initiated toward your business’ account that month and divides it by the total of all transactions. The resulting percentage is called the “chargeback rate.” Banks set a certain level of chargebacks that it views as acceptable, typically about 3% or less. If your… Continue reading How to Reduce Your Chargeback Rate
Some experts estimate that there is $125 billion in chargebacks that are affecting companies. However, one way that you can reduce that is by using 3D Secure. 3D Secure (3DS) is a great way to protect high-risk businesses, especially if you’re charging a lot of money at once. Keep reading to learn all about 3D Secure and… Continue reading Why You Should Use 3D Secure If You Operate a High Risk Business
Travis Credit Union reveals in a recent study that 59% of Americans prefer to pay with debit cards or with credit cards only instead of using cash. 52% of the respondents say that this is because of convenience, mainly. It can be more convenient for merchants too, especially with a continuity subscription business model. While convenient, continuity… Continue reading Credit Card Processing for Continuity Subscription Merchants
UPS recently released findings of a global survey of online shoppers. 80% of consumers who responded say they expect a retailer to offer them free returns. Rapid Dispute Resolution can help your business accomplish this, while helping you resolve chargebacks. Customers are not always satisfied with a product or service, and merchants may or may not want to… Continue reading Using Rapid Dispute Resolution (RDR) to Resolve Chargebacks
The advent of the Internet has made it possible even for small businesses to reach potential customers almost anywhere in the world. It does, however, bring along some risks due to the nature of online transactions as card-not-present transactions (i.e., a transaction in which neither the card nor the cardholder is physically present at the… Continue reading How to Combat International Chargebacks
Every business that accepts payment by credit card knows the expense in both time and money that chargebacks can cause. Chargebacks can be initiated for a variety of reasons, of course. Some are questionable, or even fraudulent. On the other hand, many are legitimate, or at least understandable. Typically, the cause is some type of dissatisfaction on… Continue reading Mitigating Inevitable Chargebacks at the Gate
A chargeback occurs when a customer is unhappy with a charge on their credit card for a variety of reasons, from a subscription they didn’t realize they signed up for to a product that never arrived. Whether legitimate or not, chargebacks can create problems for your relationships with vendors and customers alike — they can… Continue reading How To Fight Large Chargebacks
TABLE OF CONTENTS What Is Chargeback Fraud? Increasing numbers of consumers are choosing to shop online. In the second quarter of 2021, total e-commerce retail sales increased about 28% from the previous year’s second quarter. Alongside the rise of e-commerce in recent years, friendly fraud and chargeback incidents have grown. Unfortunately, most merchants don’t know how to… Continue reading What Is Chargeback Fraud?
TABLE OF CONTENTS WHAT ARE CREDIT CARD CHARGEBACKS? Whether you’re the business or the customer, you understand this age-old agreement — a customer gives a business money in return for an agreed-upon product or service. Every business owner wants each transaction to be as smooth as possible, and in a perfect world, they would be.… Continue reading What Are Credit Card Chargebacks?