What Is a Chargeback?
A chargeback is a mechanism created to resolve charges made to a credit or debit card that the cardholder does not recognize. It is a way to protect cardholders from charges made without their consent.
Customer dissatisfied due to a chargeback
Who Triggers It?
It is triggered when a cardholder contacts their bank directly to report that they do not recognize a charge made to their credit or debit card by your business. At that point, the cardholder’s issuing bank sends the chargeback request to the business’s bank.
How Do We Help You Minimize Chargebacks?
Today there are anti-fraud modules that give merchants the security to process transactions, making it possible to validate suspicious operations that could lead to fraud. Artificial intelligence and machine learning are tools used to collect information and build transactional behavior patterns, which help determine whether there is a likelihood of fraud. E-commerce businesses experience transactional fraud because of weaknesses in user authentication when completing purchases. For this reason, it is important to have E3D Secure technology, also known as 3DS.
Different anti-fraud tools
What Can I Do to Avoid a Chargeback?
We recommend issuing a refund, a process through which a person or company recovers the money previously paid for a product or service. It usually happens when the purchased item is defective, does not meet expectations or does not match what was promised.
A refund involves returning the amount paid, either in cash or through other means of compensation, with the goal of restoring the consumer’s or buyer’s initial investment.
Learn the step-by-step process: How to process a refund? →
