07 Jun 2022 By PAYCEC
As a merchant, you must undertake your own investigation into the fundamental reasons of your chargebacks in order to combat and prevent them in the future. We discovered that the reasons for this fall into one of three categories: true fraud, friendly fraud, or merchant error.
Criminal fraud chargebacks occur when a scammer or identity thief uses a credit card to make an illicit purchase. Merchants should not waste time or money disputing chargebacks; rather, merchants can reduce chargebacks by installing powerful antifraud systems that use a pre-authorization, post-authorization, or combination strategy.
When a chargeback occurs as a result of a merchant error, such as shipping the incorrect goods, providing a damaged or defective product, or failing to deliver the product, the chargeback is known as a merchant error chargeback. This type of dispute can be properly represented on occasion, but the best course of action is to discover and correct the error's primary source.
Customers who misuse the chargebacks method by reporting lawful transactions as fraudulent in order to receive a refund are referred to as friendly fraud chargebacks. Customers may act in this manner on purpose, by accident, or because they are perplexed.
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