Chargebacks
Chargebacks are reversals of disputed sales transactions.Most chargebacks happen when merchants do not follow standard transaction procedures – for example, when they fail to check a card’s expiry date, forget to authorise a transaction, or accidentally submit a transaction more than once.
Other common causes include failing to cancel recurring payments when asked to, unrecognisable merchant names on account statements, non-receipt of goods, or the cardholder claiming that the transaction never took place.
By following good practice, you can keep these types of chargebacks and others to an absolute minimum – avoiding unnecessary costs to your business.
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