Knowledge the basis for successful chargeback disputes

Disputing chargebacks can be a difficult process without the right help

Many online businesses seem to accept chargebacks as an inevitability, even when there's a chance that they can recover some of those funds. Those businesses may feel that they're not properly equipped to win a chargeback dispute.

However, such conflicts can be won if companies are working with a merchant payment processor that has the capability to manage and limit chargebacks. When considering a new merchant account, consumers are encouraged to remember a few critical features found in the best card-not-present platforms.

Knowledge of regulations and requirements

Businesses looking for a new merchant account ought to consider providers with high ratings for industry knowledge and expertise. Top payment processors should be able to keep clients abreast of important regulation changes and chargeback dispute procedures, and their advice should help businesses achieve a lower chargeback rate. If a company's provider seems unequipped to offer this information or minimize chargebacks, it may be time to consider a new merchant account.

Data reporting and management

Services that offer detailed chargeback reporting may provide the information businesses need to limit unnecessary loss. With this critical data in front of them, managers might be able to detect instances of fraud easier and support their chargeback dispute with strong evidence.

Comprehensive review and consultation

The best payment processors should be able to review potential chargebacks with clients on a case-by-case basis. After that analysis, these providers must be prepared to direct businesses toward the proper action, whether it's to proceed with a dispute or consider an alternative. Sometimes, it may be cost-effective to forgo an argument and simply accept a chargeback, and experienced processors should be able to point out those situations.

Strong recovery rates

Ultimately, businesses will want to lean toward merchant accounts that have the best shot of producing a successful dispute. Chargeback recovery rates can be an easy way to gauge that standard.