Chargeback Protection

merchant account

Chargeback Protection

Chargebacks are a heavy-costing part of a business. Moreover, it significantly raises a business's risk factor in the market. Thus, a Chargeback Management option is provided to Merchants with Global Payment Gateway. In other words, your business will be able to get the best solutions for Chargebacks.

Resolving chargebacks is crucial, else it can cause a bigger problem for your business. Therefore, WebPays have the best services for your business to fix it. It will significantly lower the high chargeback ratio and will make you more prominent in the industry.

The Initial Step at Understanding Chargebacks

A chargeback is often confused with a refund. A refund is issued to a merchant to get back the fee that is charged inaccurately. On the other hand, a chargeback is issued by the card issuer. It, in turn, is forwarded to the merchant debiting the expense from their account.

The basic idea of providing the best consumer experience is intact between the two. However, a chargeback is a lengthy process that hampers a business to a great extent. A chargeback often comes with a fee that the card issuer will debit due to the inconvenience. Therefore, it can be a great loss to the merchant.

In some cases, the consumer buys a product, gets it, and still files a chargeback. This process is known as Friendly Fraud. It is also known as Chargeback Fraud because the consumer is issuing a fraud chargeback to the merchant.

This phenomenon can multiply the damage to the merchant by 3. In the case of Friendly Fraud, the merchant will lose the product, the product’s price, and the fee for the chargeback.

Thus, it becomes vital for a merchant to get chargeback protection for the business. It has multiple profits for your business, especially the High-Risk Businesses.

A Merchant’s Duty

A holder of Forex Trading Merchant Account, or Online Gaming Merchant Account or any other, must provide specific support to the consumer. There are various ways to fight the chargebacks before the consumer issues them. Some of them are:

  1. Offer Refunds: A business that offers a refund to consumers has a significantly low risk of getting a chargeback. The motto of a chargeback is to provide security and convenience to the consumers to get the incorrectly charged money back. Therefore, if you give a refund policy to the consumer, they can simply ask for the refund and be satisfied with it.
  2. Total Support: Tech Support Merchants may have a problem with the refund policy. Therefore, these businesses can offer 24 x 7 support services to consumers. It will allow them to discuss their needs with the merchant directly. It can drop the chargeback ratio as consumer satisfaction is intact throughout the process.
  3. Seamless Contact Services: A simple step forward is to put your Contact Information into the website. The chances will shift for the consumers to contact your business before filing a dispute with the card issuer.
  4. Anti-Fraud Tools: If the motto of the consumer is to do fraud, your business needs to avoid it at any cost. The fraudulent chargeback can be a huge setback to your business. Thus, equip anti-fraud tools such as Device ID, Geolocation, Fraud Scoring, AVS, CVV Checker, etc.

The Chargeback Protection Services by WebPays

WebPays offer Chargeback Guarantee to the holders of high-risk merchant account such as Forex Trading Merchant Account, Online Gaming Merchant Account, etc.

The Chargeback Guarantee Service covers the entire cost of the chargeback. We take the charges on our account and issue the chargeback cost to the Card Issuer and Consumer.

This CBG Model offers a better environment for your business to outgrow the competition. Moreover, this is an exceptional boon to those merchants who have a problem with refunds, such as a Tech Support Merchant.

There may be various reasons for a no refund policy. This may hamper a merchant's business via the chargebacks. Thus, we have a complete solution for your business to tackle the chargebacks thrown your way.

Furthermore, we have expert chargeback alerts in compliance with the regulations. It allows us to disburse the disputed amount before it turns into a chargeback. Till the time it reaches the concerned authority, the issue is already resolved.

Summing It Up

To bring it to a close, no doubt the chargebacks are annoying and require your time, personnel, money, and business reputation in the market. Thus, it becomes crucial for your business to get Chargeback Management or Protection tools.

Choosing a service provider such as WebPays offer the best solutions to your business. With our Global Payment Gateway, you can reach a global platform conveniently. On the other hand, we can protect your business from any chargebacks. Moreover, we also have advanced state-of-the-art Anti-Fraud Tools to secure the Global Payment Gateway from fraudulent activities.

Either you’re a Forex Trading Merchant Account holder or an e-Commerce Merchant Account holder, we open our arms to all the High-Risk Merchant Account Businesses. Get in touch with our in-house expert team to get a personalized solution for your business.

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