Finance & Loans

How to Fight Chargebacks

Chargebacks — a business owner’s nightmare. A chargeback occurs when a customer disputes a sales transaction on their credit card bill and the amount is then “charged back” to the merchant. There are many reasons why a chargeback might occur, such as a returned item or an incorrect order.

However, there are other causes of chargebacks you should be aware of: you might have forgotten to secure an authorization for the payment; the receipt might have been unsigned; you might have failed to get a card imprint; or you might have accepted an expired card. Whatever the reason for the chargeback, it could end in your loss.

But there is a way to fight chargebacks and avoid loss. One of the best ways to protect yourself against chargebacks and other types of loss is to purchase chargeback protection through SolidTrustPay. This type of protection will identify red-flag transactions and avoid certain credit card numbers.  SolidTrustPay offers this service through its Corporate Upgrade account for merchants. This affordable upgrade also comes with many other benefits, including a free virtual terminal for manual card online payment processing.

Another way to fight a chargeback is to send the transaction back to SolidTrustPay and charge the amount of the disputed sale one more time. SolidTrustPay will then research the transaction to see if the chargeback is valid. If it is approved, the money will be given to the merchant, or business owner.