SUMMARY 1. Unlike a credit or refund issued by the merchant to the customer, a chargeback is when a customer files a dispute with the bank itself. Usually due to potential fraud, lack of service, defective/damaged goods, misunderstandings, or any combination of factors. 2. Once a chargeback is filed with the bank, documentation is prepared …
Winning chargebacks and receiving a reversal can be done by providing the right information to validate transactions. The list below provides a comprehensive list to ensure the most success in receiving reversals. • Supply signed magnetic swiped, EMV chip and/ or imprinted transaction receipt • Supply proper transaction receipt for MOTO/ e-commerce transaction • Provide …
Proxy Server– Proxy servers are used by fraudsters to hide their identity through layering the servers they use this makes it difficult to trace and that if a service is blocking IP Addresses, they can mask the geographical area of a stolen card. Online Purchasing Behaviors– Through analyzing the behaviors of purchases online, companies have …
CARD PRESENT MERCHANTS Expired Cards- Do not accept any card that has a “good thru” or “valid thru” date Missing or Questionable Signature- make sure the signature is present on the card. If the signature or name on the card appears to be questionable, ask to see ID. Card Imprint for Key-Entered Card Present Transactions- …
Knowing the following codes that come through with the notification of a chargeback is vital in successfully fighting back against it, thus protecting your merchant account.