5 Must Know Facts about Chargebacks

‘Chargebacks’ are the product of the process of reversing a transaction wherein the money is paid back to the consumer from the merchant’s account in addition to levying penalty to the merchant. For the past few years, there has been a substantial increase in eFraud cases due to the rising use of credit cards without proper authentication. This can especially pose serious problems for small and growing businesses as they search for stability during the early stages of starting and stabilizing their business.

On a global scale, only 21% of chargebacks are in the favor of the merchants. In most of the eFraud cases lodged, a credit card is used without the proper consent or authorization of the registered card holder. The above issue of chargebacks can result in drastic problems for a long established business, rising enterprise or family endeavor. Here are a few major issues faced by etailers while fighting against eFraud tribulations:

When an eFraud claim is presented by the issuing bank to the merchant, the merchant has to pay the chargeback amount and also the fine that is charged by the bank for putting back the money on the credit card of the card holder who had been a victim of the eFraud. The fine amount often exceeds the profit amount that you try to recover by selling the product and can result in substantial loss of funds. If you pay such fines regularly and lose out on your share of profits, then you certainly cannot hold onto a business that is more about investments and less about profits.
As you see, securing your business against fraudulent chargeback claims before you start selling your goods online is imperative. Contact us to secure your business against any or all eFraud activity. eFraud Security ensures total CNP Loss-Prevention Servicing & Insurance for Online Luxury Stores and International high value orders. We secure and take care about fully insuring the merchant for all the transactions approved by us thus securing you against any potential activity arising out of eFraud.

We claim 100% reimbursement for all eFraud related transactions to its clients at an affordable cost. The security service offered by us is a percentage fee-based service and the merchant is 100% insured for all the fraudulent claims resulting out of CNP or credit card fraud. With the eFraud promise, you can confidently make a move on all your transactions.