Manage Fraud Related Chargebacks – There are many people who use the laws of the Chargeback for their own benefits that eventually causeloss to the merchant. Such kind of chargeback is called Fraudulent Chargeback. The Card Networks are continuously trying to redefine the rules of chargeback in order to reduce the frauds from all the sides of a digital transaction. But fraudsters are continuing to find different methods to make a profit at somebody’s loss. If this is something you are facing then do not worry, we can provide you with the guidance that you need.
This article is to help merchants manage Fraud Related Chargebacks. If you are also facing a high number of frauds chargeback then it is a high time to reduce them. The Chargeback Expertz is there to help you with your Chargeback related issues. For similar services, contact Chargeback Expertz at the toll-free number or visit www.chargebackexpertz.com.
Understand the Chargeback Fraud
Before getting to the tricks to reduce and fight the chargeback frauds, you need to understand the Chargeback Frauds. In general, there are three types of Chargeback Frauds that we are going to discuss here.
- True Fraud – When a fraudster is using a card that does not belong to him/her causing the identity theft. Also, when a stolen card is used to make payments or the account has been closed. All these situations lead to the True Fraud.
- Chargeback Fraud – If a customer uses the credit card to purchase a product or service but files the chargeback to keep the product or service for free leads to chargeback fraud. This means when the customer put a genuine purchase under the chargeback to get the item for free.
- Friendly Fraud – It is quite similar to the chargeback fraud. But in this case, the customer doesn’t know about any other method to get a refund or replace the product. It is hard to distinguish between the friendly fraud and chargeback fraud.
Tips to Avoid Fraud Related Chargeback
In order to Manage Fraud Related Chargeback, you need to start by reducing the chargeback. As the number of chargebacks reduces for your business, you start earning more profit. Here are some tips that you can try to reduce or avoid the chargeback entirely:
- Using preventive measures to ensure that the customer is also the cardholder can reduce a true fraud.
- This can be possible by initiating the Card Present Transaction. Also, use the payment methods that ensure that the Cardholder is making the purchase.
- Use Geo-location and 3D secure tools in your transaction methods to make transactions that are not fraudulent.
- Guide your employees to never accept the payment if they feel anything suspicious related to the customer, card, or payment.
- The most difficult chargeback is caused due to friendly frauds. For that, make sure you enlighten your customer with your replacement and return conditions.
If you are looking for more tips to Manage Fraud Related Chargeback then feel free to contact Chargeback Expertz. We can provide you with guidance after evaluating your business needs.
Fight Against the Fraud Related Chargeback
There is another method to deal with the chargeback fraud, to fight against the Chargeback. It is not as easy as it sounds. You will be required to submit evidence to support your case.
If you use secure and correct methods for business including the payments then you have nothing to worry about. The chargeback procedure follows a set of rules and when the chargeback is not fixed between banks, the card network comes into the picture. The decision of the card network is the ultimate decision.
If you are looking for the assistance to fight against chargeback or manage fraud-related chargeback then you may need an expert. For that matter, contact Chargeback Expertz. You can try the 24/7-email support or the toll-free number+1 855-465-4723 that will get you an expert in a jiffy.
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