Nothing is worse than the confusing and time-consuming process of chargebacks. Fighting a chargeback dispute is hard, and winning is even harder. Additionally, chargebacks leave the door open to friendly fraud. Friendly fraud happens when a consumer orders your goods and services and then requests a chargeback instead of a refund, claiming the merchant made an error. Whether the friendly fraud was malicious or innocent, you’re still losing out on revenue.
Due to the minimal amount of resources available to merchants, many feel like they must accept chargebacks as a necessary business cost. I’m here to tell you that this is false. From my personal experience, I can attest the chargeback process is completely subjective since the final result is decided by humans, leaving room for error. Chargebacks are easy to abuse because banks often rest on the “customer is always right” model. It’s also easier to believe the customer than calling the merchant directly.
Now that you understand the hassle of chargebacks, it’s important to understand the importance of clearing all transactions at target interchange. Target interchange is where your transaction falls if you meet the minimum requirements. Each card brand has its own unique set of qualifying requirements which must be met for transactions to clear properly. This is extremely difficult to do and is comparable to trying to complete four obstacle courses at once (one for Visa, Mastercard, American Express, and Discover).
I can help you eliminate these obstacles with my consulting services. I’ll make sure all card brand programs are fully optimized with all transactions clearing completely at the target interchange for the lowest possible cost, saving you thousands.
There’s another thing you have to consider: each card brand updates its rules and regulations twice per year. This is almost impossible to keep up with everything else you have on your agenda while running your business, which is why you need expert guidance. I’ve been studying the patterns of these changes for many years and can help you predict market trends while finding the right strategy to increase your bottom line.
When technology and expertise come together, you’ll never have to worry about the hassle of chargebacks again. Visit my website or call me today at (617) 843-5700 to schedule a free consultation session.
