What is the difference between an open loop and closed-loop solution chargeback service? A closed-loop solution stops the chargeback process (before it even begins) and gives merchants extra time to resolve the dispute directly with the consumer. This approach...
Are chargeback effects severe for merchants? Yes. Chargebacks effects result in a great deal of lost revenue, lost product, fees and review time for merchants. Given issuing banks’ desire to please their customers and consumer protection laws, chargebacks often result...
Where does TC40 Data originate and how is TC40 Data distributed? TC40 data is a file of all compiled fraud cases where the cardholder claims a charge took place without his/her permission. These reports include raw data for each transaction identified as fraudulent:...
Ah chargebacks…. You’re doing your best to deal with them but some days it seems as though you’re losing the battle against the time, resources, people, fees, and lost revenue that these chargebacks are costing you. As a card-not-present merchant, you do a lot of...
Today’s business world is not what it was five or even 10 years ago. We’ve seen a dramatic shift in how, when, and where business is done and we’ve also seen a change in what products and services are sold and why. Ten years ago, most of us likely wouldn’t have...
