Chargeback Representments

Chargeback representment or Chargeback reversal is the process. By which the merchant disputes the chargeback or dispute raised by the customer after collecting the evidence and other information to prove that transaction was successful.  As per the knowledge of the customer. If the merchant provides the proper proof then issuing bank may reverse the chargeback and return the funds to the merchant. In case of credit card fraud, the merchant is held responsible for all charges.

Before you represent the chargeback, keep the following things in mind

1. Think about the cost associated with the case. The acquirer’s bank charges the fee. If the cost of resentment is more than the fund you will get back. There is no point in disputing the chargeback.
2. Collect all the evidence and proof of delivery. Proof of customer’s acknowledgment & all the supporting documents that prove the transaction was valid.
3. Check with your acquirer bank, if represented makes sense or not.
4. Represent the chargeback in the time frame. Merchants only have limited time to dispute the chargeback or represent the documents.

When the banks process the chargeback. It assumes that there is the fault of the merchant and the customer is always right. The represented process should be handled very carefully.

The Process

The chargeback is raised by the customer.  When they are not satisfied with your products and services. Chargebacks that are initiated by the issuing bank are the chargebacks where there is a transaction processing error. Generally, banks handle the case themselves without any involvement of the merchant. Other chargeback cases are passed to the merchant. Merchants should not always believe in the reason code mentioned as it can be the case of friendly fraud too. If the case is of friendly fraud.  The merchant should for sure represent the chargeback with proper evidence as it is a fraud situation.
The merchant should represent the chargeback in the time frame of 7 days or as per the acquirer’s terms with compelling evidence. The evidence plays a major role in chargeback reversal. The evidence is required to be submitted to the acquiring bank. Acquiring the bank will pass the same to the issuing bank.
If the issuing banks find the evidence compelling and satisfactory.  The chargeback may be voided and the merchant can get the money back into the account.

Evidence includes:

• Signed Proof of delivery (If product based business)
• Proof of services (If services-based business)
• Any sort of communication with the customer showing successful delivery or satisfaction with the quality
• A legible copy of the sales receipt
• Tracking number
• Delivery confirmation for items shipped to an address matched with AVS
• Evidence that some or all of the transaction data had previously been used for an undisputed purchase
• Proof of customer’s acknowledgment
• Any type of email confirmation sent out to customers when they’ve purchased the products or services
• Print screens of the Website showing the information mentioned about products or services, Proof that
• ave already read the information before initiating the transaction.
• Proof the purchase was made
• by a member of the cardholder’s family or household
• A checked ‘accept’ box or signed confirmation for the use of Dynamic Currency Conversion

Outsource Chargeback Representment Process

Chargeback representment is the process of which utmost care has to be taken off. It is a complex process of which your in-house team can be unaware. Every chargeback comes with the reason code and your in-house team has to understand the code and represent it accordingly. If not you may lose even the chargeback.  Which was because of the friendly fraud? You have to use right tools to monitor chargebacks, collect evidence, representment on time. If you are not winning at least half of the cases then you are at a loss.
You can outsource the process or hire a chargeback prevention company. Who can represent your cases? Chargeback prevention companies have an expert team.  Who work on each case with care and collect all the evidence. They will find the correct reason for the chargebacks and work with their team and represent the dispute in the time frame. They will also win more cases and get your revenues back.
Hire Chargeback Expertz today and we will handle your Representment Process.