Of course you want to be sure that every customer is satisfied and that every payment you accept is valid. But now and then a customer may claim that a charge on their account was not made by them or that they were not satisfied with the goods or service. Chargebacks sometimes happen but too many of them can raise your risk rating.
A disputed payment, (Chargeback), is the process for the cancellation of a customer’s payment card transaction. Within 180 days after the online payment is made, a payer has the right to dispute it by sending a written dispute statement to their issuing bank. The bank then conducts an investigation and if the claim is valid, the transaction amount is automatically deducted from the account of the seller and returned to the payer. You, as the seller, may also object to the deduction of the funds from your account by presenting proof that the transaction is valid and that the customer did indeed agree to the terms of the purchase and that they received the goods or services they purchased. Upon confirmation of this evidence the funds may be returned back to your bank account.
The most reliable protection against the appearance of disputed payments is the use of advanced and reliable tools to protect against fraudulent transactions. ECommPay provides full chargeback process support and quickly responds to any incident on your behalf. With ECommPay’s risk management and embedded security processes we enable you to minimize losses from disputed payments and avoid the possible dissatisfaction of your customers.
Contact your personal payment expert today to find out more about disputed transactions and chargeback protection from ECommPay.