What you need to know about Chargeback Management Software in 2020
For many merchants, chargebacks are a problem that keep getting bigger and harder to manage with each passing day. With deliberate fraud in card-not-present environments and consumer abuse of the chargeback process on the rise, chargebacks pose a growing threat to all businesses in the e-commerce industry. Merchants can't afford to sit back and let chargebacks eat away at their revenue.
It's possible to dispute chargebacks, but the burden of proof is on the merchant to present compelling evidence that demonstrates how the chargeback request should not be upheld. It's also up to the merchant to devise and implement chargeback prevention strategies that work for their business.
The problem is that every chargeback is different—there are many varied reason codes for chargebacks, and even a single reason code can encompass a wide range of situations, ultimately leading to the customer requesting a chargeback. There are no universally applicable methods for fighting and preventing chargebacks.
Chargebacks are a unique problem, and they require unique solutions. Successfully controlling them takes a combination of expertise, strategy, and tools—and one of the most promising tools to use against chargebacks is chargeback management software.
How does Chargeback Management work?
Is Chargeback Management Software right for me?
The caveat is that chargebacks are too dynamic and diverse to be handled effectively by a system that is entirely automated by software programs.
Is Chargeback Management Software effective?
What is the most efficient way to fight chargebacks?
There are many considerations to factor in to chargeback management, since every business—and every chargeback—is unique.
In-house or outsource?
Weigh the pros and cons for each option and find out the top reasons why businesses decide to hire a chargeback management company in the eGuide, 4 Reasons to Hire a Chargeback Management Company.