What is merchant services, and is help available?

We understand that you want to focus on your core business and don’t want to devote staff to managing and fighting chargebacks. To ensure that you can do this, we offer a range of merchant services that make your day-to-day more effective and productive.

We can manage and handle your chargeback prevention and representation.  This approach allows you to leverage the chargeback expertise and knowledge of our chargeback professionals. We work for you to safeguard the entire payment lifecycle.

One common option is to use a chargeback notification system that alerts you to pending disputes so you can resolve them directly with consumers before they become chargebacks. By using Verifi’s Premier Chargeback Revenue Recovery Service, you can fight chargebacks quickly and see revenue recovery without IT hassles.

Browse our Solutions to learn about all the ways we can help you with chargebacks.

 

Q. What exactly is a chargeback?

This is one of the most common questions we receive and for good reason. You as a merchant need to understand all facets of your business and this includes chargebacks and why they do and can occur. Chargeback prevention and protection is one of the most advanced forms of merchant services that we offer. (And it is one of the most critical for your business.)

So, what is a chargeback? A chargeback occurs when a customer disputes a charge on their credit card. The chargeback results in a transaction reversal on the customer’s credit card. This process is a recognized form of consumer protection against fraud.

Yes, this is complicated. Because it is complicated, managing this and protecting your business from chargeback fraud is costly, time inefficient and requires you to have in-house experts. This is why taking advantage of our merchant services such as and Cardholder Dispute Resolution Network is one of the best business management decisions you can make.

It is important to note that a customer has up to 120 days to dispute a charge.

To learn more about chargebacks and how you can protect your business, browse our Chargeback Knowledge Base.

 

Q. How can I protect my business from chargebacks?

To be honest, the best way for you to protect your business from needless and fraudulent chargebacks is to take advantage of the merchant services that Verifi offers. To help you understand how our solutions do make it easier for you to focus on your business and core competencies, here is just a small sample of what you as a merchant must do to protect yourself from chargebacks:

• Know and understand the four reason codes that a customer can use. The customer must include one of the following four reason codes when disputing a charge: technical (for example, an expired card), clerical (for example, duplicate billing), quality (for example, customer didn’t receive the product), or fraud (for example, identity theft).

• Keep extensive documentation of each and every sale and order. You must have physical proof that a customer initiated an order for your product or service and that the customer authorized the charge to their credit card.

• Have an outstanding customer service team. When your customers feel they have been treated well, they are less likely to dispute charges. And remind your customer service team to document every conversation and online transaction with each and every customer.

• Be obvious about the name of your company on all billing transactions. When your company name is clear to the customer, it can be more difficult for the customer to dispute a charge. For example, do not use the name of your parent company on a credit card statement – use the name that your customers are familiar with.

Along with running your business and managing the day-to-day of producing your quality goods and services, you also need to be doing the above to ensure you’re safeguarded from chargebacks. This is why taking advantage of merchant services such as chargeback protection and solutions is one of the best business decisions you can make.

 

Q. How do I get started with chargeback protection?

We specialize in the merchant services you need to ensure your business is protected against fraudulent and unnecessary chargebacks. This means that it is very easy for you to get started and ensure your business is protected.

Take advantage of our self-service portal option and you can be up and running in about a day without any IT interruptions. With our self-service portal, you receive email alerts when a chargeback case is initiated on our SaaS based Merchant Portal. You retain full control over initiating all refunds and customer cancellations to resolve the dispute before it becomes a chargeback.

Or take advantage of our extensive expertise with our managed service and have us manage the entire chargeback process for you. We’ll do all the work, matching chargeback cases and initiating refunds on your behalf through the Verifi Payment Gateway or directly on your CRM platform. Save time, resources and money with our complete and comprehensive merchant service.

To further enhance your chargeback protection, take advantage of our Premier Chargeback Revenue Recovery Service. This proven service helps you increase your chargeback win rate, saves you time and recovers lost profits that are rightfully yours – without tying up scarce IT resources. Use our Fast-Trak set up so you can start fighting chargebacks quickly and start reclaiming revenue in just days.

Contact Us to find out more about our merchant services and what the Verifi team can offer your business.