BAMS has pioneered a new dispute management tool that is included for all merchant clients and bundled into the already award-winning reporting system, IRIS. BAMS Dispute Manager Assistant will make your life easier, and help you win disputes, by targeting four areas:
- Instant dispute notification
- Exportable reason code data
- Document uploads
- Notification of status changes
Continue reading “How can BAMS technology help you win more disputes?”
As a merchant, you take pride in providing the best service possible to each and every one of your customers. That’s why it can come as such a shock – even an insult – whenever a chargeback request comes in claiming that you failed to deliver on a transaction. While chargebacks are a reality of doing business, especially in card-not-present situations like eCommerce, there are steps you can take to avoid them outright and to fight back when they do pop up. The following represent six of the most effective strategies, and adhering to them will put you at a significant advantage when it comes to handling pesky dispute requests.
Continue reading “Merchants Beware: A Chargeback Defense Guide to Help You Avoid the Scourge of Ecommerce”
In part one of this two-part series, we looked at some of the technology-based solutions merchants have available to them to catch fraud early on and stop it before it can result in chargebacks and lost revenues. In part two, we’ll look at the other side of the coin – legitimate chargebacks filed by customers who feel like they’ve been wronged. These chargebacks can’t always be avoided, and sometimes all a merchant can hope for is a fast and easy resolution. But there are steps that merchants can take to minimize the number of legitimate chargeback requests they face, and they all revolve around understanding the customer-side of the equation and elevating the quality of service provided.
Continue reading “Part Two: Is an Ounce of Chargeback Prevention Worth A Pound of Cure?”
A seller receives an order and delivers on their end of the bargain flawlessly, only to later find that the money they earned has been clawed back due to a chargeback. This is an all too common scenario, especially in commerce online where purchases are made without any physical, real-world interaction between customer and merchant. It’s also a scenario that can be incredibly costly for merchants in more ways than just lost revenues. Large retailers can afford to dedicate staff to dispute resolutions, but for smaller merchants, chargebacks are often poorly understood, let alone effectively handled. But, with a little bit of knowledge and some careful planning, merchants both large and small can significantly reduce their need to handle them at all by taking the necessary steps to ensure they don’t happen in the first place. In this two-part series, we’ll examine the most effective ways merchants can do just that, using both the fraud prevention tools available to them and some customer service best practices.
Continue reading “Part One: Is an Ounce of Chargeback Prevention Worth A Pound of Cure?”
Minimizing risk is a task of great importance to everyone involved in online commerce and electronic payments, from the merchants right through to the credit card issuers. High fraud rates and chargeback rates can have a significant impact on merchants, even resulting in enrollment in chargeback and fraud monitoring programs that can carry hefty fees. Risk scoring is a tool to help merchants avoid those negative consequences by catching and stopping fraud as it happens, and more and more merchants are enlisting them in the never-ending fight against credit card fraud.
Continue reading “What Is Risk Scoring and How Can It Help You?”
Chargebacks are a reality of accepting credit card payments. While many chargebacks are requested for valid reasons, there are plenty of cases in which disputes are initiated despite the merchant holding up every aspect of their end of the bargain. Unfortunately, many merchants don’t really understand the dispute process, how to handle a chargeback, or the consequences that chargebacks represent to the health of their businesses. Those consequences can include unexpected drains on revenue, penalties levied by the card companies, and across-the-board rate increases.
Continue reading “How Problematic Are Chargebacks for Business Owners?”
For obvious reasons, the major credit card companies take fraud and excessive chargebacks very seriously, and companies like Visa and Mastercard have put forward thorough monitoring and tracking systems to try to prevent the losses associated with them. In October 2019, both companies made changes to their chargeback and fraud defense programs, and it’s important that merchants keep up on the details of those changes, as getting tied up in any of these programs can result in costly fines and burdensome assessments.
Continue reading “What Visa and MC Updated Dispute and Fraud Monitoring Programs Mean For You”
E-commerce transactions are all about trust. Customers need to feel 100% confident that their personal information and payment details are stored and transmitted with total security, or they simply won’t make a purchase. When breaches do happen, the damage – both financially and psychologically – can be immense, and as a result, businesses simply can’t afford to ignore the seriousness of transaction security. Thankfully, there are some straightforward steps companies can take to keep the bad guys at bay, and the following six practices represent some of the most effective ones.
Continue reading “6 Ways to Keep Your eCommerce Transactions Safe”
Chargebacks are a reality of accepting card payments, and no merchant doing any significant volume can avoid them altogether. Sometimes a chargeback is outright fraudulent, and many are the result of poor customer service or misunderstandings between merchants and customers. But whatever the reason may be, merchants need to be ready to fight back when disputes arise. Knowing how to respond is the key to success, and the following five tips represent effective ways to improve dispute responses to ensure more victories and less lost revenues.
Chargebacks are an unfortunate reality of accepting credit card payments, but they aren’t something businesses have to lie down and accept without a fight. Some chargebacks are completely legitimate, like cases where a purchase was made fraudulently by a third party. But many chargebacks are fraudulent, frivolous, or abuses of the system. In those cases, there is no reason for a company to accept losing the revenue, the product, and the additional chargeback penalty, and fighting back is in order.
Continue reading “How Your Business Can Protect Itself Against Chargebacks”