- September 15, 2020
- Posted by: iPay Editor
- Categories: best high risk merchant account provider, best high risk merchant services, Chargebacks, high risk merchant account application process, high risk merchant account instant approval uk, High Risk Merchant Accounts, high risk merchant payment processor, high risk merchants uk, high risk offshore credit card processing, high risk payment gateway uk, high risk pharmacy merchant account
Disputes originally were created as a protection mechanism for a buyer. However, nowadays chargebacks or disputes has become a great threat to the business. This can occur more often than anyone would hope for and in turn, it impacts the merchant’s credibility, credit history, and customer loyalty. And the sad part of this is that merchants don’t have an idea of how to win chargeback disputes.
The reality is some chargebacks are uncalled for instead a refund would solve the major issue.
Let’s take an example, 5% of chargebacks occur because the customer wasn’t happy with the product. Another 5% might occur because the product did not match the description mentioned on the website.
However, few are absolutely fair. Several chargebacks occur due to purchase with a stolen credit card and some instances because the purchased item never arrived and sometimes the wrong item will be sent to the customer and then they file for a chargeback.
Merchants need to face serious consequences if they have high chargeback ratio. In this blog let’s understand what a chargeback process looks like and how merchants can get their disputes resolved.
How Does Chargeback Work?
A chargeback occurs after a customer contacts his credit card company requesting his money back for a product he never received, isn’t satisfied with or didn’t actually purchase.
When the customer files for a chargeback with his credit card company the merchant will get a notification from the Acquirer. Then the merchant provides the necessary details so that the acquirer can confirm or disprove a fraudulent transaction.
How Can Merchants Increase Their Chance Of Winning Disputes?
The merchants can definitely increase his chances to win chargeback disputes with state-of-the-art prevention technologies.
With iPayTotal we have chargeback protection for each and every merchant.
Eliminate Chargebacks with iPayTotal
If you want to protect yourself from chargebacks, then our chargeback protection service is for you because it gives you complete protection.
Our advanced and integrated chargeback management system will reduce your chargeback rate and remove the operational burden of chargebacks from your organisation. Our comprehensive chargeback management has produced an overall (online/IVR/in-person) chargeback rate of less than 0.002% (less than 1 in 50,000 card transactions are charged back). We have an even more impressive in-person chargeback rate of only 0.00057% (less than 1 in 175,000 card transactions are charged back). This low chargeback rate means iPayTotal offers you chargeback protection that is over 10 times better than the industry average.
If you are looking for a merchant account contact iPayTotal now.. We have worked with thousands of merchants and gained immense experience in this field and we have a team of hand-picked experts who will be happy to assist you if you need help.
iPayTotal has built-in fraud prevention Our international payment gateway provides powerful built-in fraud-prevention filters and monitoring tools based on client behaviour, ensuring any suspicious activity is blocked. iPayTotal’s dashboard provides accurate, real-time data from any device and from anywhere in the world.