Prevention of chargeback is actually a quite hot term in the business world since the past few years. Chargebacks on credit cards is a way for the consumers to dispute a debit or credit card transaction. Thus, the cardholder can contact the issuer, the bank, and explain the problem and ask them to transfer their money back. There are quite a few cases in which the reasons of the clients are actually dependable.
In case the cardholder presents a reasonable statement, the issuer begins the chargeback process so as to provide the cardholder with his claim. During the conduct of the chargeback process, the card issuer obtains funds from the respective brand, to which the payment was made, and gives it back to the cardholder. Even though it is considered a fraud by most of the brands, it is still a legal process.
The Pre-Arbitration Process:
Most of the times, the merchant wins during the first Chargeback proceedings, and thus, he receives the disputed charge. However, a merchant almost never wins during the second Chargeback or Pre- Arbitration. On the other hand, if you do not want to lose the first chargeback, then you can present the issuer with compelling evidence to support your stance. Fraud prevention becomes quite difficult in such situations. You should keep in mind that the information, or the evidence, should be thoroughly reviewed before handing it over to the issuer for a claim.
The documentation that you present for support should be legitimate. However, if you still lose the first chargeback, you should prove it to your issuer that your information was correct so that the issuer does not consider you a fraud. Any information you have on the subject should be submitted to the issuer to settle the dispute of the transactions. The reason why the second chargeback falls mostly in the favor of the cardholder is that the cardholders still claiming the Chargeback and on the Pre – Arbitration process the decision makes is the card brand who always support the rights of cardholder, Ruled the chargeback in cardholder’s favor and reimbursed to them. Even if the merchant submitted strong evidence to card brand or issuer bank for Pre-Arbitration, those would not enough to get win 2nd reversal.
Preventing Chargebacks:
You should definitely not take a card back once it has been declined, in order to save yourself from an irreversible chargeback. Chargeback is a potentially expensive part of the credit card process. If you make online purchases through your credit card, then make sure to get signed the delivery receipt by customer. It is vital for you to keep track of all of your credit card payments because if you fail to respond to a retrieval request then you might get charged with an irreversible chargeback.
Furthermore, if you want to reduce the retrieval request then make sure that your sales drafts are legible. In this way, you would be able to identify any transaction that has been made from your credit card.
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