Understanding Chargeback Basics, What You Need To Know

Feb 27, 2013 by

Chargebacks are something that can be very confusing to the average business if they are not fully understood.  There can be several reasons for a chargebacks to occur, but the fact of the matter is that a chargeback can take money out of the pocket of your company if you are not aware of them and what can happen.

Chargebacks are when a customer sees a charge on their credit card that they do not agree with, and decide to dispute.  When a customer disputes a credit card, they are stating that it is not their responsibility for that particular charge.  The first reason that a chargeback could come about is that the customer did not receive the product or service that they requested.  Second, they may not recognize who the company is who charged them on their credit card.  Finally, a charge may appear on the credit card statement of a customer fraudulently, requiring them to dispute the charge.

What a chargeback is, is really exactly how it sounds, it is when a charge that is on a credit card is sent back to the original charger.  Solid trust pay has helped with chargebacks for years.  Merchant account providers such as Solidtrustpay can help fight fraudulent chargebacks.  You want the sales and revenue to stay in your company’s account, Solidtrustpay.com can help make that happen.  Chargebacks do not have to be a scary thing and when you understand what they are and what they entail you can be more confident in your sales.

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