Chargeback Effects On My Business
Illegitimate chargebacks are costing business owners, and it’s time to fight back against dishonest customers and fraud. I have surveyed 50 of my online merchants and found that most of their chargebacks come from people who order items online, and then in an attempt to keep the product without paying for it, dispute it. I consider this shoplifting.
Part of the problem seems to stem largely from regulations put in place stating anyone can dispute any charge for any reason. Naturally, crooks will use these regulations to their full advantage.
Many online merchants are losing the battle against chargebacks and feel there is nothing they can do. Online merchants should not give up; not all chargebacks are final. The best option is to respond to the chargeback letter immediately. Keep in mind that if your bank still honors the chargeback, you have the right to go after the consumer plus any costs you incur as a result.
Some key tips for combating against chargebacks are:
It is better to be safe than sorry. If you have specific chargeback issues and are looking for the best way to respond to your notices, feel free to comment. We would love to help.
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Information regarding PCI SSC Validated Payment Applications and Payment Application Qualified Security Assessors (PA-QSAs) can be found at http://www.pcisecuritystandards.org
Visa CISP – https://usa.visa.com/partner-with-us/pci-dss-compliance-information.html
MasterCard SDP – http://www.mastercard.com/us/merchant/pdf/SDP_Program_Revisions.pdf