How to Prevent Chargeback
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Chargeback is a customer-initiated transaction reversal, often due to fraud, undelivered items, defects, or misrepresentation. Consequences of chargebacks include incurred costs, potential loss of payment processing capabilities, and damage to brand credibility. To prevent chargebacks, ensure accurate deliveries, verify packaging, use reputable shippers, and implement fraud detection solutions.
How to Prevent Chargeback
- 2. www.fraudlabs.com What is Chargeback? Chargeback is a transaction initiated by customer to return the money from merchant account to a customer due to fraud case.
- 3. www.fraudlabs.com Why Chargeback? Customers claim that they do not issue the purchase. The purchase item did not arrive as per agreeable shipping date. Defective found upon item arrival, and dispute occurred. The delivered solutions varies from what it has promised. And, so on.
- 4. www.fraudlabs.com Consequence of Chargeback You will incur chargeback cost. You may lose your payment gateway account if high number of chargeback observed. You will incur item cost, shall the chargeback occurred after item shipped. Your brand creditability may be at risk.
- 5. www.fraudlabs.com How to prevent Chargeback? Make sure to deliver the solution as according to the information marketed. Double check the item and packing prior to dispatch. Choose the reputable dispatcher to ensure on time delivery. Implement Fraud Detection Solution, e.g, FraudLabs, to filter out potential fraud case.
- 6. www.fraudlabs.com What is Fraud Detection Solution Uncover a suspicious buyer to prevent fraudulence case, therefore prevent chargeback. Proven algorithm over the years in filtering malicious transaction. Using various combination of measures in detecting the fraudulence case: Address Validation Email Validation Proxy Validation Credit Card Bin Info Validation High Risk Country Validation Fraud Score return allowing you to decide whether to accept the sale transaction. For more information, please visit http://www.fraudlabs.com