MERCHANT'S BENEFIT OF ANALYTICAL REPORT

It is really important for merchants to review their data, especially when it comes to chargebacks and to keep such risk under control. Compiling and analyzing reports therefore become of utmost importance, as it helps merchants to identify and understand the problem, take decision and increase revenue.
Here is when Chargeback Expertz comes in to rescue its customers (merchants) in order to review essential data by providing analytical reports to them on a monthly and quarterly basis.

What to Expect

Chargeback Reports: It helps merchant to analyze data contained in a chargeback report in order to evaluate the risk. Chargebackexpertz provides a tool (analytical report) that can track and provide accurate records/data of credit transactions, chargebacks and representment to detect the chargeback patterns and avoid them, if possible. Analytical reports help in monitoring chargeback ratio real-time.

Merchant’sBenefit: Analytical report is a reliable tool that helps merchant to review and calculate risk and liabilities as well as points out any flaw or issue that is causing loss, which would have remained unnoticeable without analytical report.

Real-time Report: The time span to file a chargeback dispute is short and leaves the merchant with a very less time to analyze the cause and evaluate data. Analytical Report provides monthly and quarterly statistics of the data that helps the merchant to monitor chargeback ratio in real time and make amendments in the workings, if needed.

Features

• Report of Chargeback Rates
• Monitoring Alerts
• Analysis of Win-Back Representment Rate
• Monitoring Fraud
• Identifying Merchant Error
• Indicating Key-performances
• Reviewing Profitable Areas, Geographically

Advantages

An efficient and effective tool will help merchant in the following:

• Effective Chargeback Prevention Strategy
• High Rate of Successful Dispute Chargebacks
• Recovering more Revenue and Increasing Yearly Profits
• Improving Merchant’s Reputation
• Predicting Charges and Trends
• Detecting and Decreasing Frauds

KEY FACTOR PAYPAL AND A MERCHANT ACCOUNT

Whеn bеginning or еxраnding your buѕinеѕѕ’ѕ оnlinе sales, one оf thе mоѕt imроrtаnt dесiѕiоnѕ tо mаkе is how уоu will ассерt рауmеntѕ frоm уоur сuѕtоmеrѕ. There аrе diffеrеnt options available tо thе еCоm merchant for payment processing. In раrtiсulаr, PayPal hаѕ grоwn beyond its rооtѕ as an еBау рауmеnt platform аnd bесоmе vеrу popular аmоng ѕmаll оnlinе businesses.

Whеn соnѕidеring рауmеnt рrосеѕѕing орtiоnѕ fоr your buѕinеѕѕ, it’ѕ nесеѕѕаrу to undеrѕtаnd how PауPаl stacks up against trаditiоnаl merchant accounts.Payments ассерtеd thrоugh a mеrсhаnt ассоunt for оnlinе transactions are similar tо face-to-face trаnѕасtiоnѕ. You hаvе аn ассоunt with a bаnk оr other finаnсiаl inѕtitutiоn, аnd thе payment рrосеѕѕing соmраnу ассерtѕ your customers’ card infоrmаtiоn thrоugh уоur wеbѕitе’ѕ рауmеnt gаtеwау, securely processes it, аnd dероѕitѕ the transaction fundѕ dirесtlу intо your bаnk ассоunt. These fundѕ аrе available for уоur use tурiсаllу within 2 buѕinеѕѕ dауѕ. Some kindѕ оf businesses, including trаvеl services & future fulfillment, are deemed tо саrrу highеr levels оf risk аnd may hаvе mоrе difficulty in opening a merchant ассоunt (although if уоur соmраnу iѕ соnѕidеrеd highеr riѕk, Mеrсhаnt Strоnghоld ѕресiаlizеѕ in thеѕе tуреѕ of accounts,contact us tо know more about high risk mеrсhаnt ассоuntѕ).

With PayPal, things wоrk diffеrеntlу. Whеn a сuѕtоmеr mаkеѕ a purchase оn уоur wеbѕitе viа PауPаl, they аrе redirected tо PауPаl’ѕ рауmеnt gаtеwау (аwау from уоur wеbѕitе) tо enter thеir financial information, whеrе you аrе nоt in control of thе сuѕtоmеr’ѕ сhесkоut еxреriеnсе. In thе раѕt, thе сuѕtоmеr had tо hаvе a PayPal ассоunt of thеir оwn, but nоw thеу can uѕе thеir сrеdit оr dеbit card as wеll. Thе payment iѕ рrосеѕѕеd thrоugh PауPаl’ѕ оwn merchant ассоunt, аnd еntеrѕ thеir ѕуѕtеm. Thе transaction fundѕарреаr in your company’s PауPаl ассоunt, but trаnѕfеrring thаt mоnеу to your bаnk ассоunt саn tаkе uр tо a wееk.

PayPal is a tеmрting орtiоn fоr mаnу ѕtаrt-uр companies аnd ѕmаll buѕinеѕѕеѕ because they do nоt сhаrgе monthly fees аnd iѕ frее tо ѕеt up. Instead, PауPаl сhаrgеѕ a fee fоr еасh transaction thеу рrосеѕѕ. Cоmраniеѕ with a lоwеr trаnѕасtiоn vоlumе might ѕаvе mоnеу bу uѕing PayPal as their рrimаrу рауmеnt avenue, but a grеаtеr trаnѕасtiоn volume mеаnѕ thаt PауPаl’ѕ highеr trаnѕасtiоn fееѕ саn соѕt your соmраnу more.

Mоѕt mеrсhаnt accounts соmе with a securepayment gateway to uѕе on уоur wеbѕitе. You can customize thеѕесuritу levelsthat dеtеrminе what kindѕ of transactions аrе flаggеd оr dесlinеd thrоugh уоur рауmеnt gateway, and уоu can be соnfidеnt in thе security thаt рrоtесtѕ уоur customers’ dаtа because it nеvеr leaves уоur own wеbѕitе еxсерt thrоugh thе рауmеnt processor’s ѕесurе gateway. Pауmеnt card рrосеѕѕing соmраniеѕ аrе hеld to ѕtriсt industry ѕtаndаrdѕ about privacy, аnd will nеvеr ѕhаrе any of your сuѕtоmеrѕ’ dаtа.

Aссерting PауPаl transactions iѕ соnvеniеnt fоr mаnу customers, especially hаbituаl оnlinе ѕhорреrѕ. Hоwеvеr, trаditiоnаl merchant accounts carry grеаtеr сuѕtоmеr соnfidеnсе, аѕ thеу аrе bасkеd bу dесаdеѕ оf еxреriеnсе аnd rеgulаtiоn. Thеу аlѕо will have mоrе сuѕtоmizаtiоn in thе security offered, as wеll аѕ controlling thе checkout рrосеѕѕ so thаt уоur customer iѕ nоt divеrtеd аwау frоm уоur website. Having a mеrсhаnt account соnfеrѕ an арреаrаnсе оf professionalism that a buѕinеѕѕ rеlуing ѕоlеlу оn PayPal might lack.

Finally, аt least in соmраriѕоn to Merchant StrongholdSеrviсеѕ, PауPаl dоеѕ not оffеr a dedicated account mаnаgеr. If уоu encounter any trоublе with PауPаl, you will not have оnе реrѕоn thаt уоu саn rеlу upon tо bоth саll and еmаil fоr immediate assistance. PayPal iѕ a vеrу uѕеful аnd convenient payment option, but for most businesses, it ѕhоuld nоt bе the оnlу орtiоn.

Chargeback Representment Process By Chargebackexpertz

A chargeback occurs anytime a cardholder (customer) calls the credit card issuer instead of the merchant to dispute a transaction, saying they never received the goods or services, goods and services never supplied to the customer, defective merchandise received by customer, refund not processed to customer, merchant used expired card and so on.

The Merchant needs to give explanation about the amount debited from cardholder account.

Whatis Chargeback Representment?

Chargeback Representment is a term for providing Packet of Evidence as per Reason Codes to acquiring bank or the Credit Card Company that shows that the transaction was made with full knowledge of the cardholder and also shows that cardholder agreed with all the Terms and Conditions which was displayed before buying the Product or Services. Representment also includes the information if there is any Refund/Partial Refund issued to Cardholder.

Tips on effective Chargeback Representment:

Spot the Reason Code and collect evidence according to it.
Collect all the evidence which was provided to customer at the time of sale and arrange in asingle packet.
Always highlight Important key proofs like: order id, tracking number, customer’s email id, IP address, order confirmation etc.
Provide proof of Refund if Customer refunded before disputing the Chargeback.
Provide all evidence which was signed by Customer before buying the Services.

Issues that stop you from a perfect Chargeback Representment:

Important issue is time frame; Merchant should send all evidence before the deadline.

Provide all evidence according to the reason code, there is no chance for mistake.

Show all the agreement(s) signed by customer in a proper manner.

Provide refund receipt as a Proof of Refund

Merchantpays Real Cost of Chargeback:

If Merchant loses a Chargeback dispute, they not only end up losing transaction; they have to pay more than that. The real cost pay by merchant is shown below, using the example of selling Laptop:

Laptop Cost: $500.00

Shipping Cost: $15.00

Credit Card Fees: $13.50

Customer Service Fees: $3.50

Business Operating Fees: $5.00

Total Cost: $537.00

Chargeback Fees: $45.00

Total Cost of Chargeback: $582.00

The Merchant end up paying much more than the original Transaction Amount and the Shipping Charge.

Master-card Chargeback Reason Code 4802: Request Copy Illegible or Invalid

Description

The buyer’s bank requested a copy of the order receipt, and found it as an illegible copy, or something other than the requested item. Most commonly caused by the seller when he provides a substitute order receipt that did not contain all of the required information or was an incomplete substitute acknowledgment, or other than the requested item.

Most Common Causes Of Master- Card Reason Code 

The merchant submitted order receipt with the information which is not sufficient or incomplete or is different from the requested information.

Characters in the receipt were invisible or not prominent because of light ink.

The copy is ribbed or on colored paper.

The copy is faded or stained.

The original order receipt is mishandled.

The original sales receipt is scanned in smaller size, makes it unclear or different.

Evidence Required

If possible, resubmit a copy that is clear enough to read or complete copy of the order receipt to the acquirer.

If the merchant has incomplete or missing information, accept the chargeback.

If the merchant provided illegible copy and an enquiry is related to a fraud, accept the chargeback.

In such case, the merchant doesn’t have any re-presentment rights.

Prevention:

Scan the order receipt in actual size as original sales receipt or print on white paper only. Scanning in smaller size makes it unclear or distinct.

Replace/refill the printer’s toner or cartridge so that it doesn’t run low on ink or paper. When the ink starts to fade, use different cartridge. When the first copy starts to fade or stain, change the roll of the

printer.

Print and keep white copy of order receipt, give colored one to the customer, the color paper does not copy as visible as white one.

Make copies at the similar size as the original order receipt. If the sales acknowledgement is scanned or microfilmed, do not reduce the image size, it results in poor quality of the copy.

Position of the company name/logo should be separate from transaction information, make sure that the company name or logo on the order receipt is visible. Business message should be printed away from the transaction information.

Make sure the company’s name on buyer’s bill or billing statement is clearly visible and is also correct, the customer must check this information on the credit card and then see the merchant’s name and descriptor on the billing statement.

Common Examples:

1. Linda complains to the bank that the charge on her card is more than she was supposed to pay on which her bank asks the merchant to provide them with a copy of the receipt. The merchant hence fails to submit a complete and readable copy of the original receipt and therefore endures a chargeback under the Reason Code 4802: Request Copy Illegible or Invalid.

 2 George thinks that he received a call from his internet service provider regarding a due charge so—he pays the amount, however, he later realizes that it was a fraud call. He calls his bank about the fraud on which the bank reaches out to the merchant. The merchant fails to provide the copy of receipt in order to prove that the customer rendered any of their services. Hence the bank puts a chargeback on the merchant under the Master Card  Reason Code 4802: Request Copy Illegible or Invalid.

How to Respond to A Chargeback with reason Not as Described or Defective?

The Customer must have to make a legitimate attempt to resolve the issues or return the Merchandise for Refund. If the attempts not change any things in the favor of Cardholder, the Cardholder will move forward and dispute the Chargeback against the Merchant with Reason:  Not as Described or Defective Merchandise

In Reason: “Not as Described or Defective Merchandise Cardholder” claims that Good or Services which was provided by Merchant is not same as described at the time of purchase or the wrong merchandise was sent to the cardholder and the merchandise arrived damaged or defective.

Reason: Not as Described or Defective Merchandise link with an example:

Lisa purchase a Merchandise and after Shipping Lisa suffer with problem that Merchandise is damaged or defective (Some customer also suffer with various problem like: quality is not appropriate or not same as described by Merchant, Merchandise or Services is counterfeit), so Lisa first attempt to return the Merchandise to the Merchant and get refund, if this attempt is not fruitful, the Lisa legitimately file a chargeback for reason: Not as Described or Defective Merchandise

Why Customer Dispute a Chargeback accompanied Reason: Not as Described or Defective Merchandise?

Wrong Merchandise was provided to the Customer.

Shipped Merchandise was damaged during shipping.

Merchandise or Services is counterfeit.

Merchandise or Services did not match what was described to the Customer.

Quality of Merchandise not same as what we display to the Customer.

Sale of particular Merchandise or Services was misrepresented by the merchant as interpreted by the cardholder.

Prevention of Chargeback-Reason: Not as Described or Defective Merchandise

Describe Merchandise or services accurately which was provided to the Customer.

Provide evidence that Merchandise or Services are not counterfeit; Customer was agreed on particular sale.

Provide evidences that goods or Services matched what was described to the Customer or displaying on Sales Receipt.

Always ensure that damaged or defective Merchandise should be replaced and reshipped on a Shipping Address

Issued Refund to the Customer if Merchant received the sold Merchandise in case: Defective or Damaged.

Always provide right information about the Merchandise and Services

Rights and Limitation of Reason: Not as Described or Defective Merchandise

Chargeback cannot be filled until 15 days after the date Merchandise was returned or Services were cancelled

Before disputing the Chargeback the Customer must first attempt to return the Defective or Damaged Merchandise to the Merchant and waiting for Refund.

Customer not disputed more than the Original Transaction Amount.

How Chargeback Security Alert Can Help Your Business to Improve Case Resolution

Alerts are important when you are running a business. They inform the business about recent activities so that we can solve problems before they get bigger. Alerts from Banks can help businesses to solve various issues. Many small businesses, local governments, and universities have been targeted by hackers. Millions of dollars from banks have been stolen just because there weren’t alerts to inform merchants about online merchant activities. A dedicated

Chargeback Security Alert System can reduce the chances of fraud and help businesses to improve case resolutions.

Alerts for High Risk Business

It is important that you know what is going in your business. Chargeback Alert System provides real-time alerts that are directed to you via email or text so that you are always aware of various activities. Once you signed into the business account alerts, you will be able to receive transaction histories, chargebacks, processing statements, daily deposits, and many more things. You can also sort details to get a better view of your business.

You can get transaction details, and get alerts when the balance reaches the certain limit. Many payment gateway companies offer customizable and convenient account alerts to keep you well informed, especially when specific activities have been noted in your account. There are different types of alerts, you can choose which ones you want to receive via email and text messages. These alerts can help you prevent overdrafts, you will know when is the right time to move funds, and confirm transfers. There are many types of alerts that issuing banks provide such as current balance, no funds available, the account balance is less than a certain limit, and more. This is on the business banking end and is completely separate.

All you need to do is sign up with Chargeback Security that gives you alerts on the computer and mobile phone 24/7/365. There are many chargeback prevention alert especially for small businesses, many banks offer customized fraud alerts to help business resolve cases.

Chargeback Security has partnered with many agencies, financial institutions and businesses to make a Solid, Secure and Simple Chargeback Prevention Alerts System. You can even read more about it on our website under the “Notification” Tab, Link: www.chargebackexpertz.com/notification

Type of alerts that can help improve case resolution

● Account Alerts: There is a wide range of alerts in this category that can help businesses to manage their money and keep the business safe from frauds.

● Consumer Alerts: The System works with Better Business Bureau, Attorney General’s Office, Rip Off Reports and similar Consumer Agencies and resolve all refutes between the consumers and the Merchant.

● Fraud Alerts: The descriptor of the merchant account and its variations are scrubbed in the database every day against the chargeback database of the issuing banks, financial institution and/or partners.

●Non-Fraud Alerts: Reasons like Cancelled Recurring, Credit Not Processed, Defective Goods/Services, Services/Goods Not Provided and many such Visa and Mastercard Chargeback Reason Codes are scrubbed against this alert category. Scrubbing and Working are similar to as of Fraud Alerts.

● Security Alerts: It is an extra layer of protection having all the required security. Merchants can set a dollar limit for various transactions, including debit card activity, Settlement withdrawals, velocity checks, IP Addresses, and money transfers. You will be contacted when transactions exceed the specific criteria you have set.

● Daily Alerts: It is a great way to keep track your business. All the account activities and transactions will be personalized according to your needs. Merchants can set thresholds and they will be notified via the method that they prefer.

● Retrieval and Sales Draft Alerts: Chargeback Security works with the ISO / Processing Company and even the Acquiring banks to receive and resolve such Complaints and Alerts.

● Action Alerts: It is when your business account or balance goes down or high refunds or chargebacks is detected. Merchants can login in the system and/or call and email Chargeback Security anytime. It is one of the fast, easy and fee-free way to keep the business safe.

How to Win Chargeback - A Detailed Look

Having to deal with chargebacks on your credit card may result in a time-consuming activity, especially for those who have online businesses. A lot of merchants face the risk of having their accounts terminated by their back if they frequently experience chargebacks. As a result, merchants can incur more cost compared to losing sales, which may eventually end up in the overall business loss. For this, chargeback prevention alert is very important.

Some Important Things to Remember

Merchants can and try to win a reversal so as to save the worth of the entire transaction. However, there is no single proven chargeback management process that can be used for winning. For this, make sure whether or not you would like to fight chargebacks is very important and often entails certain things for consideration.

For one, dispute management of a chargeback is a time-consuming, tedious, and oftentimes labor-intensive process. If the overall cost of the claim investigation and chargeback fees is bigger compared to the transaction amount, it may turn out to be less expensive not to dispute the chargeback/s at all.

Documentation is Important

Among the most important information pieces that merchants can present during a dispute is one which offers the explanation as to why the claim is unwarranted. This includes sending a confirmation e-mail right after completing each and every purchase which includes transaction details, automated invoice, terms of purchase, shipping information, how to reach out to customer service, as well as how to return an item. After shipping the item, the merchant needs to send another email which contains the delivery and tracking details as much as possible.

A very important part of a chargeback defense is full documentation. Clearly established terms and conditions which explain how the business is operated, and the expectations set to the customers should be presented. Online merchants should always implement a fraud management system and chargeback prevention system, including information on how replacements, returns as well as cancellations of orders are handled, posting all of this information on the websites. As part of this process, merchants may require customers to check out a box or click an icon to acknowledge to the terms and conditions after reading them. If you have signed authorization from a customer when they have made the transaction than it can most helpful paper you can present against the chargeback. You can prove that customer did authorize this transaction and the purchase before it occurred.

Understanding about Different Dispute Reasons

Every chargeback come up with a specific reason and a reason code that depends on the customer’s claim. You should have a proper understanding of the various reasons of disputes. It can help you lead the chargeback case with proper documentation. Different card brads use their different terms and reason codes to determine the reason for a customer’s claim. Providing accurate response to them will help you to win the chargeback. It requires you can also contact Chargeback Experts to help you to understand reasons for chargebacks.

Seeking Help

Another very important option is working together with a chargeback management company, who can send you the professional assistance of a chargeback expert. Take note that this is a very important investment on your end. However, with a chargeback analyst on your side, you can expect a better return since you can have the opportunity to address the dispute in a legal way, hopefully winning it in the end.