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Credit Card Processing - How to Hire a Great Servi
Credit Card Processing - How to Hire a Great Servi
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cramerjohn004
83 posts
Oct 03, 2022
10:51 AM
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A chargeback occurs when a cardholder contacts the issuer of their credit card to dispute a transaction. When this happens the merchant that made the charge will get a notice regarding the dispute. If and when a chargeback happens to you, it's very important to deal with them quickly. Merchants are given a limited amount of time to respond to a chargeback dispute. If the window of opportunity passes, the cardholder automatically wins the dispute.
Ignoring the fact that chargebacks are very costly, excessive chargebacks may result in your merchant how to start a payment processing company account being terminated.
The best way to protect you business from chargebacks is to stop them before they happen. To do this, create a chargeback prevention plan and be sure to follow it for every transaction. When you do receive a chargeback notification, deal with it immediately.
Scrutinize your merchant account statements
For many businesses, credit card processing charges account for a significant portion of monthly operating expenses. This is reason enough to read your processing statements every month. Statements are confusing and it takes time and effort to learn to read properly - but you can't afford not to!
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