Chargeback Gurus' Audio Blog

A brief history of brick-and-mortar shopping would reveal a trend of less and less contact between the customer and the cashier over time. First there was cash, then came payment cards, and now contactless payments through digital wallets are becoming increasingly common. 

While you’re probably still doing most of your in-person shopping with a credit or debit card, a future where contactless payment is the norm is getting closer every day. Recently, twenty-nine countries in Europe and Asia changed their regulations to allow for higher contactless payment limits. Is this good news for tech-savvy merchants, or are there potential drawbacks to watch out for?

The timing couldn’t be more ripe for an expansion of contactless payment schemes. The COVID-19 pandemic changed customer behavior in many ways, including many customers trying to limit how often they touched things other people have touched. While some things have gone back to normal, many will want to keep using contactless payment methods now that they've discovered the convenience of not having to insert a card and wait a few seconds for each transaction.

Full Text:
https://www.chargebackgurus.com/blog/contactless-payment-limits-increase

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Phil Claffey

Many merchants, businesses, and consumers rely on credit and debit cards for daily transactions. But with the rising popularity of cards comes the increased risk of cases of fraud, which could spell disaster for merchants when chargeback ratios rise and profits plummet. Hence, security measures are put in place to protect all the parties concerned. 

The initial string of numbers on your card make up the Bank Identification Number (BIN), which can be used to identify the card’s issuing bank or institution. What do these numbers mean and what role do they play in business transactions? How do these numbers help merchants?

Here’s what you need to know about Bank Identification Numbers and their uses.

Full Text:
https://www.chargebackgurus.com/blog/bank-identification-number

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Sarah Rife

When the lawmakers who wrote the Fair Credit Billing Act of 1974 created the legal mandate for chargebacks, they were thinking about protecting consumers from credit card thieves and dishonest merchants. They probably weren’t anticipating the way the chargeback process itself could become an instrument of fraud.

The truth is that credit card disputes exist to help consumers who are victims of fraud. When consumers leverage that system to take advantage of merchants, however, they are committing what's called credit card dispute fraud.

What is credit card dispute fraud? It is when cardholders claim that legitimate transactions were fraudulent in order to claim free goods and services. When consumers dispute credit card transactions based on false claims, they’re committing fraud—and merchants are the victims. Fraudulent chargebacks are extremely costly to merchants, whether they’re accepting the loss to their revenue or taking the time to fight them. What can merchants do to protect themselves from credit card dispute fraud?

Full Text:
https://www.chargebackgurus.com/blog/credit-card-dispute-fraud-prevention

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Sarah Rife

PayPal has come a long way since the days when it first arrived on the eCommerce scene, back when eBay buyers were still mailing paper checks to sellers. Today, they offer a wide range of merchant services, including functioning as a payment processor and an acquirer.

Familiarity and convenience are what draw many merchants to PayPal, but one of its biggest advantages is the PayPal Resolution Center, which is designed to resolve merchant disputes without involving the customer’s issuing bank. In other words, it helps merchants avoid chargebacks. How can merchants make best use of the PayPal Resolution Center to keep their customers happy and protect their revenue?

Full Text:
https://www.chargebackgurus.com/blog/paypal-resolution-center

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Sarah Rife

In the early days of ecommerce, returning a product you’d purchased online was a hassle. All the convenience of shopping from your computer seemed to evaporate when you’d have to repackage a product and wait in line at the post office to send it back.

Reusable boxes, pre-printed shipping labels, and other conveniences have taken a lot of the sting out of returning an online purchase, but some merchants find easy returns to be a double-edged sword. How can merchants create return policies that keep customers happy without putting too much of their revenue at risk?

Full Text:
https://www.chargebackgurus.com/blog/customer-return-policy

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Phil Claffey

The last chance a merchant has to stop a chargeback from happening is when the cardholder is on the phone with their bank asking for one. Unfortunately, the merchant is rarely involved in these conversations. While the bank may try to guide cardholders toward investigating an unfamiliar transaction on their end, or resolving a product complaint directly with the merchant, they don’t always have enough information to prevent every invalid chargeback.

Visa hopes to address this problem with Order Insight, a collaboration tool from Verifi. Can merchants make effective use of Order Insight to provide issuers with purchase details in time to stop chargebacks?

Full Text:
https://www.chargebackgurus.com/blog/order-insight

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Sarah Rife

When we discuss chargebacks, there’s often an implicit assumption that we’re talking about Visa and MasterCard transactions. These two card networks facilitate the vast majority of credit and debit card purchases in the United States, and their policies and procedures tend to be similar where chargebacks are concerned. When you’re dealing with chargebacks from other card networks, you might find yourself in unfamiliar territory. 

The way American Express handles disputes and chargebacks is different in several key ways, which can trip up merchants who aren’t used to it. What do merchants need to know about navigating the American Express chargeback process?

Because they carry higher interchange fees than Visa or MasterCard transactions, not every merchant accepts American Express cards. However, they are popular with many consumers, and some merchants may find that accepting them leads to better customer experiences and increased sales.

If you do accept American Express cards—or if you’re considering it—it’s important to learn how their dispute process works and where American Express chargebacks will fit into your overall strategy of preventing and fighting chargebacks.

Full Text:
https://www.chargebackgurus.com/blog/american-express-chargeback

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Sarah Rife

Credit cards make it incredibly easy to make payments at online and in-person retailers, but when it comes to informal transactions between friends and family, they’re a non-starter. With fewer people making a habit of carrying cash around, peer-to-peer payment apps like Venmo have stepped in to make it easy to make small electronic payments to individuals.

As Venmo’s popularity grows, some merchants are starting to accept it as a form of payment, but even Venmo transactions can turn into chargebacks. Before leaping into the brave new world of P2P payments, what do merchants need to know about Venmo chargebacks?

Since its debut in 2009 as an app designed to facilitate bill-splitting and IOU payments between acquaintances, Venmo’s user base has grown to exceed 40 million people, making it one of the most popular and widely-used P2P payment platforms. Venmo is especially popular among younger demographics, so many merchants who target those age groups see a clear benefit to including Venmo as one of the payment options they accept.

Full Text:
https://www.chargebackgurus.com/blog/venmo-chargebacks

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Phil Claffey

The coronavirus pandemic has had a singular influence over consumer shopping habits this year, with shutdown orders and safety concerns forcing many brick-and-mortar retailers to operate at reduced capacity or close their doors entirely. Ecommerce merchants have had to step up to meet a massive upswell in in demand, and with the holiday season upon us, the biggest surge may be about to hit.

This wave of new customers could mean big profits for online merchants—as long as their fraud screening tools don’t falsely flag them. What can merchants do to make sure that anti-fraud algorithms don’t turn away customers new to ecommerce shopping?

Fraud is a pernicious problem that carries many negative consequences for its victims, but the opposite problem—good customers mistakenly identified as fraudsters—can have financial consequences for merchants that are just as serious. Some analysts estimate that the revenue losses from false declines exceed that of fraud by a factor of 70. A false decline won’t lead to a downstream problem like chargebacks, but it can have a serious negative impact on your business.

Full Text:
https://www.chargebackgurus.com/blog/holiday-false-declines

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Sarah Rife

As an ever-greater share of consumer purchasing shifts to the world of eCommerce, people are using their credit and debit cards more than ever before. It’s easy for them to lose track of how many card purchases they’ve made, where they made them, and what they were for.

Billing statements provide an opportunity for cardholders to review their transactions, and when they see one that they don’t recall making, that may be a sign of fraud—or it may just be that the merchant description attached to the card is vague or confusing. How can merchants create recognizable billing descriptors that won’t get mistakenly reported as fraud?

Full Text:
https://www.chargebackgurus.com/blog/merchant-descriptor

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Sarah Rife