What is a chargeback, and why do they get issued?

When a customer decides to dispute a charge made to their debit or credit card, it is referred to as a chargeback. The chargeback initially results in the debit or credit card charge being reversed and the funds that you received for the payment being returned to the customer. Chargebacks were introduced as a form […]

Why are e-commerce merchants liable for fraud?

E-commerce merchants accept card-not-present (CNP) transactions, which means neither the cardholder nor the physical card are present during the transaction. Since there is inherent risk in accepting these CNP transactions, the merchant accepts liability for each transaction (rather than the issuer). By making e-commerce merchants liable for fraud rather than the issuer, it means that […]

What is the difference between the chargeback amount and the representment amount?

In the case that a merchant chooses to fight a chargeback, there may be a difference between the chargeback amount and representment amounts. Neither may be equivalent to the full transaction amount. In some cases, cardholders may opt to file a partial chargeback, rather than a full chargeback. This can happen if the cardholder claims […]

What is a high-risk business?

Credit card companies will label a business or merchant as high-risk based on the industry the merchant is involved with and other factors, such as age of the business, number of chargebacks incurred and credit history.* High-risk merchants can still accept credit card payments, but banks might charge a higher processing rate or ask for […]

What is a bank chargeback?

Before we start talking about bank chargebacks, we want to give a quick refresher on chargebacks: When a customer decides to dispute a charge made to their debit or credit card, it is referred to as a chargeback. The chargeback initially results in the debit or credit card charge being reversed and the funds that […]

What are chargebacks, and why do they get issued?

When a customer decides to dispute a charge made to their debit or credit card, it is referred to as a chargeback. The chargeback initially results in the debit or credit card charge being reversed and the funds that you received for the payment being returned to the customer. Chargebacks were introduced as a form […]

What are credit card chargebacks?

To say we’re relieved that you want to learn about credit card chargebacks is an understatement. We at Verifi, want you to be armed with as much information as possible so you can protect your business. A chargeback occurs when a customer disputes a charge on their debit and credit card. Until you can prove […]

What is a retrieval and how do I find it?

An issuing bank will ask for a retrieval (or request for copy) from a merchant after a cardholder contacts the bank to dispute a charge. Retrieval requests can be made by issuing banks up to 18 months after the transaction. Upon being notified of the request, merchants must provide all relevant records of the sale, […]

How to Dispute a Chargeback?

It really is a sign of the times that we get asked how to dispute a chargeback on an almost daily basis. You’re not alone in wanting to know how you can protect your business and dispute chargebacks that you believe are invalid and likely out-and-out fraud. Sadly, in this digital age, it has become […]

How do billing and shipping mismatches cause chargebacks?

Merchants generally should be on alert whenever a buyer’s billing and shipping addresses don’t match. There are legitimate reasons for differing addresses (buyer is sending a gift, buyer has two residences, etc.), but non-matching addresses also could be an attempt at cyber shoplifting. This can create the issuance of chargebacks if the genuine cardholder never […]