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The Consequence of Obtaining Chargebacks
By admin | June 18, 2010
A "chargeback" occurs whenever a card holder holds an argument towards a particular transaction in his credit card statement.
For anyone having a merchant account, receiving quite a few chargebacks can be a huge problem. Original receipt will simply get a notice from the merchant account provider. However, excessive chargebacks from your clients will probably result in the end of contract of your merchant account. The contract which you authorized along with the high risk merchant account provider expresses this provision quite evidently. That is why, chargebacks must be taken care of at the soonest possible time frame.
Needless to say the time constraint placed on the negotiating of chargeback problems is another element that you have to take into account. Failure to reply inside of that timeframe is going to lose your entitlement and the cardholder would certainly gain the argument by default.
Of course, your best remedy is still to counteract having those chargebacks. An effective suggestion is by generating an e-mail proof of each sale made on the web regularly. Using this method, you are going to have access to a documented copy to back up your claim. Customers who changed their minds should promptly be provided with reimbursement without the need to give an explanation of his reasons. That should leave your customers with the idea that your company shows a exceptionally professional and customer driven manner of dealing with concerns. You will be less likely to receive reproaches in this way.