How Proper Dispute Management Can Increase Customer Satisfaction

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How Proper Dispute Management Can Increase Customer Satisfaction

Your company should do everything it can to keep a loyal customer. It costs five times as much to attract a new customer than to keep an existing one. Not to mention, the probability of selling to an existing customer is 60-70%, where selling to a new customer is 5-20%. Obviously, retaining loyal customers should be a priority for merchants. In this post, we will go over how proper dispute management can positively impact customer satisfaction … Read More

Understanding High-risk Merchant Accounts

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Understanding High-risk Merchant Accounts

Merchant accounts allow businesses to accept credit card transactions by holding the money from a sale once the payment gateway approves the purchase. The funds remain in the merchant account until a scheduled transfer happens, which puts the funds into the merchant’s bank account. Since not every transaction is successful, the merchant account allows for money to be pulled from when necessary. When a return or a dispute happens, the money is drawn from the merchant … Read More

What is Fraud Scoring?

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What is Fraud Scoring

Dispute management has two sides. Merchants need to prevent disputes from happening and responding to invalid disputes when they do happen. In this post, we will focus on stopping chargebacks, specifically using fraud scoring as front-end fraud protection. Front-end fraud protection is put in place to prevent true fraud disputes from happening. True fraud is when a fraudster gets ahold of credit card credentials and successfully uses them at a merchant’s site or store. The actual … Read More

3 Mistakes Merchants Make When Handling Disputes

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3 Mistakes Merchants Makes When Handling to Disputes

We were recently asked, “What are some common mistakes that you see merchants make when handling disputes?” We thought this was a great question and wanted to share the answer here. So, here are three of the common mistakes we see merchants make: A response document should be formatted in a way that is clean, precise, and easy to read. Sending in a giant chargeback response with all the possible information about the transaction or customer … Read More

New Bad Review? A Chargeback May Be on Its Way

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New Bad Review. A Chargeback May Be on Its Way

Every merchant, no matter how diligent, has hiccups at times. Those operational hiccups can result in a bad review and a chargeback. In this post, we will dive into what merchants can to prevent bad reviews and chargebacks—and what to do when they occur. A chargeback or a dispute is when the card network demands a transaction reversal. This process is meant to serve as a form of consumer protection from fraudulent activity committed by both … Read More

5 Key Elements Of A Great Return Policy

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5 Key Elements Of A Great Return Policy

Beatrix Potter is a professional tech writer at Professional College Paper Writers and Write My Essay. She enjoys writing about ecommerce and how to boost your online business. In today’s ecommerce market, a return policy is simply an essential part of the online shopping experience. It lets the customer know that they can safely try out your product without fully committing to something that’s not right for them. While it’s not technically a legal requirement in … Read More

How to Repair a Customer Relationship After a Dispute

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How to Repair a Customer Relationship After a Dispute

It has become effortless for a cardholder to dispute a charge. Issuing banks can make the dispute process as simple as a few taps in their app. This ease can lead to customers disputing a transaction when they have a problem with the purchase instead of reaching out to the merchant to resolve it. This means opportunity for the merchant to correct the situation and mend the customer relationship was bypassed by the cardholder. So, how … Read More

What to Do When Customers Force Refunds Through Their Banks

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What to Do When Customers Force Refunds Through Their Banks

Arslan Hassan is an electrical engineer with a passion for writing, designing and anything tech-related. His educational background in the technical field has given him the edge to write on many topics. He occasionally writes blog articles for Dynamologic Solutions. It is common to face customers who force refunds from businesses. This kind of request from a customer is known as a “chargeback.” Chargebacks can be one of the most frustrating elements of business for a … Read More

What is First-Party Fraud?

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Visa recently announced that starting April of 2020, “the Visa Rules will be updated to ensure issuers, acquirers and their sponsored merchants control first-party fraud. First-party fraud is a concern for all parties in the payment ecosystem. This occurs when a cardholder seeks reimbursement or a credit for legitimately purchased goods and services, resulting in potential disputes and creating additional costs for all participants.” So, what is first-party fraud? Here is what merchants need to know. … Read More

Understanding The Growing Threat Of Organized Retail Crime In 2020

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Understanding The Growing Threat Of Organized Retail Crime In 2020

Molly Crockett is a tech security blogger for BoomEssays and UKWritings. Molly’s writing focuses on how businesses can help protect themselves against the threats at large. She is always seeking ways to help develop writing and research skills in young people, and she teaches for EssayRoo, an online writing service. Organized retail crime is a relatively basic sort of theft at the root and a far cry from the complexity of computer hacking and cybersecurity breaching. … Read More