Whether it’s at work or in his personal life, Spencer Prows’ passions are learning, problem solving and being with people. While most of Chargeback’s executive team came on board in November of 2015, Prows joined in October as the company’s COO. One of his favorite quotes comes from a verse in Proverbs, “Where there is no vision, the people perish.” But Prows said that’s not something he’s worried about because the current executive team he’s a … Read More
Khalid El-Awady for President
An experienced operator and entrepreneur in the financial technology space, El-Awady is the current president of Chargeback. He came on in November of 2015 and was recruited by the company’s board of directors along with CEO Dave Wilkes. Prior to joining Chargeback, El-Awady was one of the first employees of Fuze Network and was promoted to president there where his duties included managing their operations, development, finance, legal and compliance aspects. He has also worked at … Read More
Nate Smith: Man of Many Talents (and Interests)
Nate Smith first learned to program computers during grade school. An early academic foray into computer science resulted in two published technical papers. Later, Smith was surprised to discover that he found programming “in industry” more fulfilling than academia. Since finishing his degree in computer science, he has created software in diverse industries, from factory automation to payment processing. As Chargeback’s CTO, he handles the technical aspects of the company. Right now, that mostly boils down … Read More
Dave Wilkes: Always Taking It to the Next Level
Dave Wilkes is all about pushing himself to take things to the next level. He believes if you don’t challenge yourself then you’ll get stuck, and that the more you challenge yourself, the better, more capable and more talented you become—which is probably why he’s founded and co-founded six different companies throughout his career. Wilkes has dedicated the last 20 years of his life to the payments industry. He started out with a company called ProPay … Read More
Average Chargeback Rates: How Does Your Business Compare?
Your chargeback rate can enhance or diminish your business. It’ll depend if your rate is near the ‘high-risk merchant’ benchmark. That affects how many credit card processing companies will work with you. It even affects the charges you receive from these companies. In addition, it gets worse if you don’t manage chargebacks well. One solution is equipping merchants for real-time dispute resolution. That’s one of several features the Chargeback App provides to merchants. Another solution is knowing … Read More
Top 10 Reasons for a Product Return
Let me first say this: a product return isn’t necessarily a bad thing. I say that with confidence…and it’s based on a six-year study from the University of North Carolina’s Flagler Business School. The study was done in 2009, but it’s still groundbreaking today. After all, the school looked at the return rates from various companies. And it turns out that there’s actually a “sweet spot” that equates to higher profits per customer sales. One company … Read More
Stop Right There! You’re Way Over the Limit – Over Limit Reason Codes
As I was going through some of the chargeback reason codes, I began thinking about floor limits. Most of us know what a floor limit is on a base level, but I thought digging a little deeper into it would help us understand the chargeback reason codes that relate to floor limits specifically. According to InvestorWords.com a floor limit is: the maximum amount the merchant can charge to the buyer’s card without getting authorization. For a charge … Read More