Chargeback Prevention and Why Your
Merchants Need It
Chargeback prevention is essential for protecting your merchants and, therefore, your
business.
Explore this article to learn more about merchant chargeback prevention.
Nowadays, chargeback prevention services are becoming more and more popular among numerous online businesses, but what is the reason for such a high demand? What exactly do chargeback prevention alerts do to protect your business? And how to protect your merchants from chargeback requests? Find out the answers to all these questions in this article.
What Is Chargeback Prevention?
Most business owners know that chargeback requests are a serious threat to their merchants and business in general. But what exactly is it, how does it work, and, most importantly, how to prevent it? As you might have already guessed, a chargeback is a request by a customer for their money. It’s important to understand that a chargeback is not a refund since a customer opens a dispute through their bank, which is being sent to a card brand, and that leads to pretty unpleasant consequences and, in the worst-case scenario, to a merchant(s) closure by the bank.
All in all, getting chargebacks is a major threat to your merchants because, after too many chargeback requests, banks can close merchants. Plus, not only will you have to refund the money for the services you already provided, but you will also pay a costly dispute. So, you must prevent chargebacks at all costs, and this is where chargeback prevention alerts come in handy.
How Do Chargeback Prevention Alerts Work?
Basically, chargeback prevention is a mechanism for stopping chargebacks. Once a chargeback request is detected, an alert is automatically sent to your merchant and, depending on a particular situation and the type of an alert, a customer gets a refund, a merchant proceeds to further communication with a customer, or, if reasonable, a chargeback procedure is started.
All in all, it’s an awesome feature for any business that can simply and affordably protect you from a lot of issues with your merchants as well as secure your business’ reputation.
To secure your business’ reputation
To eliminate penalties
To prevent approval rate decrease
To avoid financial losses
Why Businesses Need Chargeback Prevention Services
Getting chargebacks is no good for any type of business due to the penalties and costly fees they usually entail. So, cooperating with chargeback prevention companies is essential, no matter if you run a large corporation that has hundreds of thousands of transactions per day or have a small startup with only a few hundreds of transactions per month. So, let us take a brief look at the most popular reasons why businesses need merchant chargeback prevention solutions.
- Your business’ reputation security. Ecommerce chargeback prevention is one of the best means to protect your company’s reputation and make it trustworthy for both your clients and banks. So, every reputable entrepreneur has to keep that in mind before opening their business.
- Approval rate increase. Another perk of having chargeback prevention software is the fact that it helps increase your transaction approval rate, which in turn is quite important for the proper functioning of your merchants as well as their security.
- Financial loss avoidance. Lastly, chargeback prevention alerts are proven to help avoid financial losses of all kinds, including fees, penalties, etc.
As you can see, having a good chargeback prevention alert is essential for any online business, but how to get such an alert, and which one to choose? We’ll talk about that in the next paragraph.
Why You Need to Choose Germius
Cooperating with chargeback prevention companies is easier than you might think if you select a reliable company like Germius. We can offer you assistance in setting up different solutions for your business needs, in particular:
- We are official partners of Ethoca and Verifi, which are among the top chargeback prevention companies, so you can get all their services in one place.
- Germius will offer you a personal approach and individual plan that will cover all your needs.
- Depending on the type of business you have and your necessities, Germius will help you select the best chargeback prevention software.
A reliable chargeback prevention alert has the power to protect your business’ reputation as well as save you a lot of money, which is why you simply cannot neglect it. So, let’s talk about the leaders in the market in the next paragraph.
Germius Partners: The Best Chargeback Prevention Companies
Germius cooperates with the leaders in the chargeback alerts industry, which are Verifi and Ethoca, and you can get the solutions from both systems within our CRM. But why are Verifi and Ethoca worth your attention? Let’s talk about each one in a little more detail.
- This chargeback prevention company is perhaps the best solution for various types of transactions. It will reliably protect your merchants by means of RDR and CDRN alerts, Order Insight, as well as Compelling Evidence 3.0 feature.
- This company is perfect for securing your payments, reducing fraud, and improving the general customer experience on your platform.
As you can see, having a good chargeback prevention alert is essential for any online business, but how to get such an alert, and which one to choose? We’ll talk about that in the next paragraph.
Conclusion
Preventing chargebacks and, therefore, protecting your business is a top priority for every entrepreneur or startup founder since neglecting this problem entails serious consequences for your business. So, it’s better to think about it now and solve this problem by means of reliable chargeback prevention alerts available within Germius.