Credit Card Chargeback Protection
Merchants are always at a risk for credit card chargeback fraud, with some merchants being at a higher risk than others. If your company falls among the high risk classification, then you should take advantage of credit card chargeback protection. These fraudulent claims can potentially ruin a business financially, which is why it is important to have some type of protection in force at all times. Below you will discover what chargeback protection is and how it can help you.
Free Trial Period
Most chargeback protection providers will offer a 30-Day free trial period. This provides the merchant with a free 30-Day service trial to see if they are satisfied with the service provided. After the 30 days has expired, the merchant will have the option of going forward or canceling the service all together and pay nothing. Be sure to take advantage of this benefit, because it will help ensure you that you are going to be protected from fraud.
It is nearly impossible to stop all chargeback claims, even though you have taken all of the precautions to prevent them from occurring. Of course, if you have chargeback protection in force, then the likelihood of them occurring will be drastically reduced. This will also provide the merchant with greater leverage to fight the transaction claim.
The chargeback protection is a solution that will be integrated into the preexisting fraud plan. This allows merchants to monitor, track, and receive updates on any and all pending credit card transaction disputes. This will not only allow the merchant the opportunity to resolve the issue, before the dispute is classified as a chargeback, but will improve customer reciprocity satisfaction.
The chargeback protection plan will allow you the opportunity to investigate each customer dispute. You would be surprised how many disputes you can solve and win, by enrolling in the program. An investigation will give the merchant a head’s up opportunity to resolve each dispute in a timely manner, which will make the customer happy and reduce financial loss.
Gives Merchants Control
These programs will give the merchant control to resolve disputes in a more effective and sufficient manner. If your company is at a high risk for chargebacks, you should definitely consider enrolling in this program immediately.
Remember the chargeback protection will help you win around 30-40% of more customer credit card transaction disputes. You will be in full control of the process and have more options to protecting your company from financial ruin.
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