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We are here to provide solutions to prevent your merchant account from being closed and terminated. When it comes to credit card processing accounts being closed, chargebacks are the number one reason. Chargebacks can do more than cause your account to be closed, they also can damage your business credit and reputation.
Ignoring the repercussions of chargebacks can be a major business mistake. With VIVIFY’s Chargeback Protection services you can proactively prevent chargebacks through our prevention and monitoring services.
VIVIFY’s Chargeback Protection service will monitor all of your merchant accounts setup through VIVIFY and the service is geared at preventing, reducing, and eliminating chargebacks by addressing a customer dispute as soon as it is filed with their issuing bank. For high risk merchants such as online gaming, travel booking, VRBO businesses, ecommerce and where credit cards are not present during time of purchase, chargebacks prevention is the first line of defense to keep a merchant from being placed as an outstanding status.
Any unresolved disputes that become a chargeback(s) will be processed and managed by this service on behalf of you. It’s like having a tough bodyguard for your merchant account.
VIVIFY is here to help keep your merchant account(s) open, safe, efficient and help you make more money, grow your business and increase profits. By reducing and/or eliminating chargebacks and handling chargeback disputes that occur on your behalf VIVIFY’s Chargeback Protection solution is a winner for your VIVIFY merchant account.
Here are few commonly asked questions about chargeback prevention and dispute re-presentment:
What are Chargebacks?
A chargeback or a “reversal” is a form of credit card protection for the customer provided by their issuing bank(s), which allows the customer to file a complaint regarding fraudulent transactions on their statement. Chargebacks occur mostly for high risk merchant accounts where credit cards are not present during the time of a transaction. When the customer files a dispute, the issuing bank makes an investigation into the complaint. Once the issuer bank proves the transaction is indeed fraudulent, the issuer bank will refund the original value to the cardholder. If the merchant does not prove the transaction to be legitimately authorized by the cardholder, the credit card issuer bank will take back the entire value of the transaction from your merchant account, along with an additional chargeback fee(s). It is in a merchant’s best interest time wise and financially to have chargeback protection or hire a professional chargeback monitoring service to handle this tedious process. Regardless of whether you win a chargeback dispute the actual chargeback will still count against your permanent processing record, which is why it is best to use VIVIFY’s Chargeback Protection services to prevent chargebacks from ever occurring in the first place.
Why do Chargebacks happen?
There are many reasons why a cardholder may dispute the transaction and cause a chargeback to your merchant account.
- Fraudulent transactions – This is where the cardholder did not initiate the transaction or did not authorize charges on their credit card. In cases like these, the merchant is held solely responsible.
- Credit Not Processed – The cardholder/customer has returned merchandise to the merchant, requested their money back but the credit was never posted or issued to their account. In these situations, merchants are also held liable for the value of the transaction and chargeback fees.
- Item Not Received – The most commons reason for chargebacks in today’s e-commerce era. A chargeback can occur when the customer does not receive the item which they paid for by credit card.
- Technical Problems – Technical problems between the merchant (POS, Credit Card Machine, Online Shopping card) and the issuing bank may lead to cardholders being charged twice for the same transaction (commonly called “duplicate processing”). Technical problems may also cause a transaction to process for authorization of payment yet show a decline to the customer.
- Custom disputes and technical problems do happen from time to time, but proactively taking action to prevent chargebacks will ensure your customer is well taken care of and will protect the your account from being closed or terminated.
Chargeback Prevention & Representment Processes:
- Chargeback Alerts – For those merchants worried about keeping their chargeback ratio below 1%, Ethoca Alerts and CDRN alerts are what you need. VIVIFY will manage and respond to your alerts using the exact business rules that you provide. Freeing up your time and allowing you to do what you do best – run your business.
- Chargeback Audit – We have the best chargeback analysts around. Our team dig deep to resolve your chargeback issue! Think of them as your personal bodyguards for your merchant account. We’ve done extensive coaching, training, and developing to make sure that they get the job done right. We also offer chargeback audits. This processes reveals issues that may run deeper than not collecting AVS or CVV information. We review your business practices and provide valuable insight on tactics that will reduce your chargebacks.
- Tailored Responses & QA – We want to tailor responses for chargeback resolutions to those that best fit your business practices. During a dispute, we research your products, the transaction and the surrounding circumstances. We take screenshots, log into your gateway to gather all pertinent information that will help you win the dispute. Since each dispute is individualized to the merchant and customer, we don’t use a cookie cutter based approach. Each and every response is tailored to your business. Once the documents are complete they are double checked by our quality analysts before they are submitted to the issuing bank for review.
- Assess your Win/Loss Ratio – This is what is most important. You want a positive return on your investment and we want to win on your behalf. Winning is important us – it drives our business. By providing us access to your merchant statements you enable us to provide robust reporting that shows you your win rate. If you’re going to invest in protection, isn’t it important that you see the results?