For U.S. payments businesses, it is very crucial to have a good rapport with banks. However, some merchants are tagged as high-risk due to factors such as rule non-compliance, financial instability, or fraudulent activities. The Terminated Merchant File (TMF) and MATCH (Member Alert to Control High-Risk Merchants) List serve here....
Net 60 Payment Terms: What They Are and How They Help Business Credit
Payment terms are core to any business deal because they are crucial for cash flow and financial partnering. Before the time to invoice any client arrives, it is very important for a business owner to understand what Net 60 means, the general payment period. Mastering this financial lingo gives you...
What Happens If You File A False Chargeback Claim?
In today's digital age, online shopping has become increasingly popular, allowing consumers to conveniently purchase goods and services from the comfort of their homes. However, with this convenience comes the risk of encountering fraudulent sellers or receiving unsatisfactory products. To protect consumers, credit card companies offer a chargeback process, which...
What is a Bank Chargeback?
In today's digital age, where online transactions have become the norm, the concept of bank chargebacks has gained significant importance. A bank chargeback refers to the process of reversing a transaction and returning funds to a customer's account. It is a mechanism designed to protect consumers from fraudulent or unauthorized...
What is a Payment Reversal and How Does it Work?
In today's digital age, online transactions have become an integral part of our daily lives. Whether it's purchasing goods or services, paying bills, or transferring funds, we rely heavily on electronic payment systems. However, sometimes these transactions don't go as planned, and a payment reversal occurs. In this comprehensive article,...
What is Chargeback Representment?
In today's digital age, chargebacks have become a common occurrence in the world of commerce. Chargebacks are initiated by customers who dispute a transaction and request a refund from their bank or credit card issuer. While chargebacks are designed to protect consumers from fraudulent or unauthorized transactions, they can pose...
What is Chargeback Insurance?
Chargeback insurance is a type of coverage that protects businesses from financial losses resulting from chargebacks. Chargebacks occur when a customer disputes a transaction and requests a refund from their bank or credit card issuer. This can happen for various reasons, such as fraud, dissatisfaction with the product or service,...
Velocity Checks and Fraud Prevention
In today's digital age, where online transactions have become the norm, the risk of fraud has also increased significantly. Fraudsters are constantly finding new ways to exploit vulnerabilities in payment systems and steal sensitive information. To combat this growing threat, businesses and financial institutions have turned to velocity checks as...
How to Dispute a Chargeback Successfully
Chargebacks can be a frustrating and costly experience for businesses. When a customer disputes a charge with their credit card issuer, it can result in a chargeback, which means the funds are taken back from the merchant's account. However, it is possible to dispute a chargeback successfully and recover the...
How to Prevent Chargebacks in Your Business
Chargebacks can be a significant headache for businesses of all sizes. Not only do they result in lost revenue, but they can also damage your reputation and increase your processing fees. However, with the right strategies and practices in place, you can minimize the occurrence of chargebacks and protect your...