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Manage Excessive Chargeback Levels The Visa and MasterCard take action depending on the number of chargebacks in a month for the merchant. This is called the chargeback ratio or chargeback rate. If the merchant reaches the maximum chargeback limit, the card companies have the right to implement a penalty. These are sensitive issues that can affect your business in terms of profit and reputation. ChargebackRatio and Chargeback Rate – Calculate Chargeback Threshold with Visa And Master Card The Visa and the MasterCard, both have different norms to manage Excessive Chargeback levels but before moving to the excessive chargeback, you must know about the Chargeback Rate and Chargeback Ratio. Visa’smethod to calculate Chargeback Ratio: • To calculate the chargeback ratio, the Visa divides the number of chargebacks in a month to the number of transactions of that month. This becomes the chargeback ratio. Furthermore, to calculate the chargeback rate, multiply this ratio with 100. Here is the formula that Visa uses to calculate the Chargeback Rate: • Chargeback Rate = (Number of Chargebacks in a month / Number of Transactions in a month) *100 Master Card’s Method To Calculate Chargeback Ratio: • The Master Card uses a slightly different method to calculate the Chargeback rate. The formula is similar but the only difference is, they take the ratio of the current month’s chargeback and divide it by the previous month’s transactions. The Mastercard chargeback rate formula is: • Chargeback Rate = (Number of Chargebacks of current month / Number of Transactions of the previous month) *100 If you are a merchant, then you can also calculate the chargeback ratio of your enterprise using this simple formula. What are Excessive Chargeback Levels? As complicated as it sounds, the chargebacks can be tricky to deal with not only for the merchant but also for banks. Every year, many cases of chargeback frauds are reported. Furthermore, the banks and card networks are trying to establish the best method to avoid any frauds. Chargeback Expertz ChargebackExpertz does the best research for you and gives you the best maintenance for the chargebacks. Have any questions in your head call us at +1 855-465-4723 or mail us at app@chargebackexpertz.com ...read more
By Chargeback Expertz August 30, 2019
The first rule to run a successful and balanced business is to catch the chargeback before it goals our business profit. Navigating the chargeback process is painful and time-consuming for any merchant. All chargeback disputes begin when a cardholder files a dispute on a transaction with their issuing bank. Visa gives issuing banks up to good 30 days to review. If valid, they would then forward it to the merchant’s acquiring bank or payment processor, who notifies the merchant. Chargeback, if you may not know is a return of funds into the buyer’s bank account, a line of credit or credit card. Know The Process Know the parties involved in this. 1. The Customer 2.Issuing Bank 3.Card Network 4.Acquiring Bank 5.Merchant Account Processor 6.Merchant’s Commercial Bank Account 7.The Merchant 8. Merchant Loses to Chargebacks 9.Preventing Chargebacks These 9 heads are involved in this and have a look at this individually. 1. The Customer The customer is a cardholder who purchases product/services from the merchant. 2. Issuing Bank The issuer provides payment cards to the cardholder. The issuer is the underwriter of the account. That means it is responsible to disburse funds to the merchant from the customers. 3. Card Network This provides a transfer facility between issuers and acquirers. 4. Acquiring Bank The acquirer is the party responsible for acquiring authorization through the card network. The acquirer settles the funds collected from the processing fees, network fees, and interchange fees. 5. Merchant Account Processor The merchant account processor is a service provider that partners with an acquirer. They provide services as process payments on the merchant’s behalf. 6. Merchant’s Commercial Bank Account The merchant commercial bank account is the destination of funds transferred from a cardholder. 7. The Merchant Company or a business who provides goods or services in exchange for money. 8. Merchant Loses to Chargebacks Losing to chargeback dispute is worse than chargeback itself here he losses product and the amount disputed to him. 9. Preventing Chargebacks This is providing quality to the customers, in order to prevent chargebacks merchants should consider the following points: a. Accurate results of the product or services. b. Proper return policy c. Excellent customer support d. Have a conversation with the customers including documents. Chargeback Expertz Chargeback Expertz gives proper prevention against the chargebacks. Check us on app@chargebackexpertz.com or call us at +1 855-465-4723 we are available round the clock. ...read more
By Chargeback Expertz August 29, 2019
ChargebackResponse A merchant has a specific time limit when it comes to responding to the chargeback. If not done, the issuing bank can press charges on the merchant. But at the same time, a merchant needs to be very careful when responding to a chargeback. If a merchant makes any mistake while presenting the response, he can be subjected to a heavy fine. Here are some tips for the Merchants to design their Chargeback Response- 1.Short And Simple Make it easily readable, once the chargeback is filled merchant should take off this thing that he should only highlight the major areas that he wants to tell the bank. Banks have a lot of work to do and a lot of chargebacks which bounces daily on their head. So, make it simple and sweet. 2.Norms At The Time Of selling Goods The best way to fight the chargebacks is keeping the terms and condition ready when they do it. •Make sure to also present the documents signed by the customer. •When a chargeback is logged, the merchant can use the terms and conditions in his response file. 3.Making Things Crystal Clear You need to put in your Chargeback response is the payment details. •Proof that the customer made the payment, not any other person, if possible. •The document stating the mode of the payment. •If the customer bought the product from the store then you can show the video recording of the payment. All these details of the transaction can help you show that the transaction is initiated and completed by the customer only and is legitimate. 4.Provide Documents for Successful Delivery Many customers have a delivery related dispute. It is the duty of the merchant to securely deliver the product and in time. •The merchant can also take the help of live tracking of products and keep the record of tracking. •The merchant needs to show a strong proof of the delivery in the chargeback response. •The merchant can show the signed document by the customer upon successful delivery. Chargeback Expertz ChargebackExpertz has a bag full of chargeback management, chargeback prevention, chargeback representment, chargeback alerts and many more. Call Us at +1 855-465-4723 or mail us at app@chargebackexpertz.com. ...read more
By Chargeback Expertz August 28, 2019
Small businesses can benefit from accepting credit cards. Credit card processing companies now recognize that you may need to take a credit card while away from your office and have made that easy to do with your phone. Credit card machines come in a number of sizes, and small businesses have a variet... ...read more
Making a living from home offers independence and unlimited potential. To improve a home business strategy, explore the areas of your business that might benefit from a change. Home office organization, marketing strategies or communication with clients may be areas in need of improvement. ...read more
