What is a charge back?

Chargebacks occur when a credit cardholder informs the credit card company that the charge was not authorized, or that goods or services were not delivered as promised. The chargeback mechanism exists primarily for consumer protection.

A consumer may initiate a chargeback by contacting their issuing bank and filing a substantiated complaint regarding one or more debit items on their credit card statement.

Chargebacks are the consumer’s last line of defense against unscrupulous merchants. The threat of a forced reversal of funds provides merchants with added incentive to provide quality products, helpful customer service, and timely refunds as appropriate. Chargebacks also provide a means for the reversal of unauthorized transfers due to identity theft.

When a chargeback is initiated, the card-issuing financial institution will investigate the dispute and will charge back the value of the original transaction directly from the merchant account processor, which is obligated under card network rules to pay the card issuer. The merchant’s processor will then attempt to recover an equal value of the chargeback plus a processing fee from the merchant’s bank account.

Chargebacks can be overturned if the merchant can prove the transaction was legitimate, or if goods and services have been rendered to a customer claiming otherwise.

To protect against chargebacks, merchants should list the DBA their customers are familiar with on the cardholder statements and make sure the customer fully understands the products, costs, and timing of delivery.

How to create an on-line catalog?

In the internet customers are left on their own, there is no sales person or manager who would tell them about the goods or services. Customers cannot take goods and study them carefully.

How to Make Money Online?

If you learn how other people make money online, I mean really study how it’s done and ask a lot of questions, there is no reason in the world you cannot make money on the internet as well.

How do people make money with websites? There are literally tens of thousands of things people make money on from the net.

Why do I need a merchant account?

A merchant account allows businessmen to accept credit card payments. These days most consumers prefer to shop using their credit/debit cards, if a merchant accepts credit cards payment, the sales could increase from 15% to 100% depending on the types of business.

How much do merchants pay to accept credit cards?

The discount rate is one of the processing fees charged to your merchant account. There are various fees associated with having a merchant account.

How do I apply for a merchant account?

Using a merchant account, a business owner has the ability to accept credit cards in virtually any retail environment, including the Internet.

To apply for a Merchant Account, all you have to do is first submit your info to the Merchant Account Provider you want to work with.

What is a merchant account?

A merchant account is a special account that allows your business to accept payments by debit or credit cards and electronic payments through a Web site. You must have a merchant account if you want to be able to accept credit cards from your customers.

What is a payment gateway?

A payment gateway is the link between your business merchant account and the customer's credit card. A payment gateway is an e-commerce application service provider, it is the equivalent of a physical point of sale terminal.

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