What are the top 10 reasons for chargebacks?
• Failure of merchant to respond to retrieval request This is the single most frequent cause of chargebacks. Fortunately, this is often the easiest to prevent. Simply keep copies of your sales transactions and respond to any and all “Media” or Retrieval” requests by sending copies of sales drafts immediately. Card issuers are responsible for initiating copy requests. Usually they are initiated to resolve billing disputes or to comply with a subpoena. Fulfilling copy requests is very important. When requests are not fulfilled within the prescribed time period, they almost always result in a chargeback. A chargeback for not responding to a copy request is non-reversible per Visa/MasterCard regulations. So it is in your best interest to respond quickly to copy requests. • Cardholder was billed more than once for the same transaction To avoid duplicate processing, reconcile your batches daily and ensure that the register/terminal totals match the credit card receipts for the day. If you do
