For merchants in every line of business, chargebacks are an annoying inconvenience and part of the responsibilities of accepting electronic payments. But, if you understand the types of chargebacks, how to dispute them appropriately, and how to avoid them to begin with, you can lower your risk for chargebacks and the burden of the associated fees they incur.
Credit card chargebacks are a headache for everyone involved- the merchant, the processor and the acquiring bank because the whole process has to be reversed and that costs money. To avoid getting hit with chargeback fees there are a few tactics merchants can employ to ensure customers are fully happy before they swipe to begin with. Setting up expectations on the front end saves a lot of money and hassle on the back end and lowering your overhead is the name of the game here at Singular Payments.