Most merchants have some degree of experience with chargebacks. If not…it’s probably just a matter of time. Transaction disputes are increasingly common. In fact, chargebacks will cost online merchants more than $30 billion a year by 2020. The problem is that most merchants have no real insight into why customers file chargebacks, or how toRead more
Posts in: Risk & Compliance
Nowadays many entrepreneurs want to jump into an ecommerce market, and it’s completely understandable. This industry is already enormous and growing considerably fast. However, every business has the possibility to fail, and this is especially the case for startups. It is not a secret that approximately 90% of new businesses fail in their first twoRead more
When your online store is up and running and you are already processing payments, it is not uncommon for your payment processor to contact you after the activation of your account. These requests can concern the processing of your account, specific transactions and or compliance issues, just to list a few. They are in general important and aRead more
The general chargeback process exists since the 60s/70s. The chargeback process was created with the aim to protect the buyers’ rights against big companies. However, little by little consumers as well as fraudsters, found a way to utilize this process for their own gains.Today many merchants face a big challenge to manage and to understand thisRead more
If you are planning on selling goods or services online you will need a merchant account in order to accept credit card transactions. Payment processors and banks often request to review your website’s terms and conditions as well as other policies and/or information on your website before they issue you with a merchant account.