How do Chargebacks Work? Chargebacks begin when a customer files a dispute with their bank regarding a credit or debit card transaction. The problem arises when the merchant is left out of the dispute process or is informed too late. Customers are not informing the merchant of the dispute at an increasing rate. And in 58% of all instances, the merchant is never notified of the pending dispute, making them helpless and unable to defend themselves against the initial chargeback.
Whether you realize it or not, chargebacks are hurting your business’ revenue stream, absorbing valuable time and effort by you and your employees. Chargebacks can create up to 270% of lost money on a chargeback. This means if your business suffers a $100 chargeback you may wind up paying $270 in fees.
It's time to stop the Chargeback cycle?
We can help you take control, and get back to what's important in life. With Verifi and Ethoca, we have created an alert and prevention system that is practically unmatched by our competitors.