Tag: chargebacks

A chargeback occurs when a customer requests their bank to return their funds for a purchase or when the customer’s banking partner detects unusual activity or a problem with a transaction. A chargeback is handled directly by a card issuer. Lost or damaged products during shipping, a customer not receiving a product, a faulty product or service description, technical error, and duplicate billing and fraud are all reasons why a customer can ask for a chargeback. The best way to deal with chargebacks is to ensure standardized business procedures and by offering the best purchasing experience to your customers. How to deal with chargebacks in your merchant account Keep a detailed record of transactions Over time, chargeback fraud has become more common. Unfortunately, it is some...