Group items tagged

Chargebacks are frustrating and expensive assaults on a retailer's bottom line. But practical and smart merchants can learn from some chargebacks, improving their stores' performance, customer satisfaction, and operational excellence. When a consumer asks his or her credit card company for a refund, a merchant can suffer a chargeback. That is, the credit card company will reach into a merchant's bank account and take the total amount of the transaction that's being charged back. Then, any one of three or more different types of organizations-issuing banks, merchant banks, and payment gateways-could charge the merchant a fee for its trouble. Throughout this process, no one bothers to inform or ask the merchant.