A growing number of fraud incidents trace back to something most cardholders have never heard of: a BIN attack. The Bank Identification Number - or BIN - is the first six to eight digits printed on any credit or debit card. Those digits aren't random. They identify the card's issuing bank, the card network, the […]
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Chargeback mitigation services are designed to help merchants avoid disputes before they happen, fight illegitimate chargebacks through the representment process, and keep chargeback ratios within acceptable limits. But the market is crowded with providers making similar promises, and the differences between them aren't always obvious until you're already locked into a contract. Choosing the wrong […]
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But most rebuttal letters fail before anyone even reads them. They're too long, emotional, or missing the exact evidence the bank needs to reverse its decision. Card networks and issuing banks follow strict laws, and if your response doesn't speak their language, it gets written off - regardless of whether you're right. This guide will […]
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When you're first setting up a business, you're probably going about it slowly and deliberately. You take your time registering your business and developing your assets, you set up and extensively test your website, you make sure your storefront works. One area that often stalls out new business owners is figuring out which merchant payment […]
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Under normal circumstances, chargebacks aren't too complex. A purchase has a value, the customer disputes the charge, and that value is clawed back from your accounts and returned to the customer. You pay penalties and fees as a merchant. The common method to fight chargebacks is to offer a refund instead. Ideally, the customer accepts; […]
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The credit card dispute and chargeback process is a great idea in theory. It's part of consume protections: if a charge is made that the customer doesn't believe is valid, they can dispute the validity, have it investigated, and get their money back if it's not a valid transaction. Unfortunately, the way the process stands […]
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As a merchant, you're extremely reliant on your payment processor to continue doing business. Unfortunately, there are a bunch of reasons why that payment processor might decide to cancel your account. Illegal activity is a big one, obviously, but even ending up with too many chargebacks and a high chargeback ratio can put your account […]
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Chargebacks are devastating for a merchant, especially when they're too frequent. They're also incredibly frustrating, because a lot of the time, the process is already well on its way by the time you've found out a customer even filed a dispute. How can you try to fight back or be proactive with chargebacks when you're […]
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Every merchant knows that chargebacks can be devastating. You lose the money from a sale, you pay extra fees, you often lose whatever product was shipped out, and if your chargeback rate gets too high, there are even worse penalties. At the heart of every chargeback is a customer who wants their money back. We […]
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If you aren't sure what your descriptor is, or if you've decided you need to change it, how do you do so? The specific instructions will vary, so I can't provide every permutation here. The simple version is, you need to go to the settings of your payment processor or payment gateway account. Generally, there […]
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Usually, when we're discussing chargebacks, it's a topic that centers around the merchant, the credit card companies, and the banks that have to handle the details of a payment. Chargebacks cost money to administrate, and that fee is passed on to the merchant. It's no wonder that banks and payment processors are more than willing […]
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It's been a long time since the invention of payment options other than handing over cash in exchange for goods and services, and that means there has been a ton of development and evolution in the systems underpinning those payment options. When virtually everyone uses some form of digital payment system, and with tens of […]
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When a customer makes a purchase, their transaction goes through several steps in the process of being validated, approved, and finalized. Ideally, that process is very fast, so the customer isn't stuck standing in line waiting for approval and hoping a computer system didn't crash, or waiting on a website wondering if they need to […]
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A simple business transaction takes place between you and a customer. When you're selling items with cash, they hand you cash, you hand them the item, and both parties walk away happy. When you're accepting means of payment other than cash, you need a payment processor to handle it. Your payment processor validates the transaction, […]
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Chargebacks are bad for business, but some can be worse than others. So, any time you head about a kind of chargeback you haven't encountered before, you might start to worry. What is this kind of chargeback, and what do you need to do to keep it from putting your merchant account at risk? Of […]
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