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My wife and all her friends just say 'put in a chargeback' if they are unhappy with anything. I can't blame them, given the lack of customer support for many o
by chasebank 4y ago
My wife and all her friends just say 'put in a chargeback' if they are unhappy with anything. I can't blame them, given the lack of customer support for many online shops but it hits too close to home. I've been dealing with chargebacks in our business for over 10 years. It's only gotten more popular. The processors now refer to it as 'friendly fraud'. Now we don't even fight chargebacks, we just hook into the visa RDR network or Ethoca's dispute mgmt tool, autorefund and move on. If anyone has a solution, I'll gladly pay handsomely. We spend hundreds of thousands a year on chargebacks.
- abigail95 4y ago> I'll gladly pay handsomely. We spend hundreds of thousands a year on chargebacks what's the median value? you can sell the outstanding debt to a collections agency, or even try collect it yourself.
- chasebank 4y ago$50-100. We run analytics on the chargeback code / bank bin and see which is likely to win or deny. The whole area is just a tax on helpless business owners. We have 30 day return windows, 24-7 customer service via phone / email. Some people just wanna buy stuff online and get it for free. Price of doing business i suppose but it still pisses me off.
- theturtletalks 4y agoSame thing with my business. The messed up part is if a new business owner is starting off and doing everything by the book, a chargeback early-on can get him banned from Stripe/PayPal. Someone mentioned above that banks don’t give a damn because they’re insured. Maybe online businesses need fraud insurance too, especially with chargebacks on the rise.