Prevent chargebacks and fraud with Maxpay’s merchant account services
Chargebacks are definitely something that can ruin the mood, or even tone down the motivation when it comes to improving your goods and services. And the situation is even worse for high-risk business owners, who deal with double the number of disputes and more.
But it’s not hopeless – especially if you have a secure payment gateway service provider like Maxpay.
Manage chargebacks to avoid further disputes
Face it – every merchant has to deal with disputes sooner or later, so you’d better follow these chargeback management tips to dodge, or at least to mitigate the chargeback hit:
- Find out why your customer is unhappy with the purchase – negotiate for refund, if possible. If the transaction appears to be fraudulent, find the breach in your safety systems and upgrade them.
- If you have enough evidence (like receipts, product description, and photos, other documents, etc.) that the chargeback is baseless – dispute the claim. In case of friendly fraud, the person would know that they can’t get away with payment shams that easy and might drop the chargeback claim.
- If there are no other options and you have to return money to the client – analyze the situation thoroughly to distinguish the flaws in your services which led to disputes and improve them.
All these pieces of advice are well and good, but wouldn’t it be better if you could avoid chargebacks completely before they are even initiated? That’s when Maxpay’s chargeback prevention services may come in handy.
How to prevent chargebacks with Ethoca Alerts?
Thanks to Ethoca, merchants that have accounts within Maxpay, are better protected from chargebacks and fraud. Ethoca is a global network of banks and merchants, the collaboration of which leads to a better payment experience for all the parties involved.
Here’s how Ethoca Alerts work:
- An issuing bank, that is a part of Ethoca’s global network, gets a phone call or a notification from their client that they are intending to request a chargeback from a merchant.
- The issuer sends an alert to Ethoca about the cardholder confirmed fraud and customer dispute in near-real-time. In turn, Ethoca redirects the alert to the merchant immediately.
- As the alert process takes only hours or even minutes, the merchant reacts to the chargeback threat quickly and effectively. Keep in mind, that without the alert, the business owner is likely to find out about a dispute weeks after it happened. After getting the Ethoca Alert, the merchant refunds the customer before the chargeback occurs and stops products from shipping not to lose any goods to confirmed fraudsters.
As simple as that, the chargeback is prevented, and the merchant’s money and reputation are secured – all with a timely notification! And the great thing is that all the processes between us and Ethoca are automated, and there is the alerts integration, so no manual processing is required from the merchant.
Want to try our Maxpay’s services with reliable dispute protection? Visit our website for more information.
Chargeback protection for merchants: other tools
We at Maxpay take chargeback prevention very seriously, hence our team offers a variety of services to ensure the disputes towards merchants are minimized. You can find out more about Verifi’s dispute management solutions and how to reduce chargebacks related to friendly fraud with VMPI in our blog. Also, feel free to write us an email or contact us directly through an online chat in the right lower corner of Maxpay’s website for further details.