Effects of Chargebacks on Merchants

Most companies and merchants that sell products and offer services to their customers process credit transactions because of its many benefits. Aside from giving their customers a more convenient way of paying for the purchases, accepting credit card payments also help create a more professional image to the company. It also allows the staff to become more productive and helps increase the company’s overall sales. But there is also some aspect of credit card transactions that merchants try to avoid – chargebacks.

A chargeback occurs when a customer disputes a particular credit card transaction directly with the bank that issued the credit card. The issuing bank would then make an investigation to the claim. A chargeback can be brought about by a variety of reasons such as when a customer claims that the transaction never occurred or that the service that has been promised to them has not been realized. It is the merchant’s job to prove that the transaction is not fraudulent and that what has been stated in the customer’s credit card statement is true. If they fail to do that, the bank will issue a refund to the customer and they will take back the original value of the product or service from the merchant’s account including a service fee. Dealing with chargebacks can be time consuming and not mention may force merchants to use additional resources just to handle each of them. A large number of chargebacks each month can also create a negative impression on the image of the company and in the long run, on its reputation among their customers and to the other businesses in their industry. Acquiring credit card chargeback insurance can help merchants manage all the chargebacks that they have to deal with each month. They will help monitor all the credit card transactions and make sure that incidents of fraud are lessened if not completely eliminated. A chargeback management company can help provide the services that merchants need to protect them from fraudulent credit card transactions. For small companies, especially those that are still in their first years of operation can benefit greatly from the services that chargeback management companies offer because it will help them save hundreds of dollars in refunds and penalties that would have otherwise been used for the expansion of the business


* This is a sponsored post however, all the points and views are my own.

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Working Towards This Year’s Goals


They say that among the most common New Year’s resolutions that people make are being more mindful of their spending and start saving and to be more health conscious. I would say that one of the things that I would like to be able to do this year is to start saving not just for family’s future needs but also setting aside a certain portion of our income so that we can buy some of the things that we need here around the house. Or perhaps we can set aside some funds for a much needed home renovation project. We are aware that we really need to work hard and save whatever we can so that we can achieve our financial goals this year. We just pray that blessings continue to pour in this year, with more earning opportunities coming our way. Who knows, if we are able to save enough, we can invest them and buy something valuable such as a real estate property or jewelry whose value may increase over time. We just have to learn to stay focused, work hard and of course, pray so that despite whatever hardships we may come across this year, we can still make this year as productive as possible.

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Avoiding Bankruptcy and Achieving Your Financial Goals

Achieving financial stability is what most of us are aspiring for. At the start of every year, being able to handle our finances better is almost always a part of our New Year’s resolution. We think of the mistakes that we have made in the previous year especially those that may have led us seek bankruptcy information california or seek financial advice from experts.

However grave you think your financial situation is right now, it is still possible to have that secured and stable financial future that you want. It may take a lot of work, but as long as you stay committed and focused, you can achieve your financial goals. The wrong spending habits that we have been doing for most of our lives, for instance, are something that we may not be able correct instantly but if we work hard in correcting them, we will be able to eliminate them completely in time.

Making an honest assessment of your current financial situation is also important. Know how much money is coming in each month. Monitor your expenses and eliminate unnecessary spending. Drop your cable subscription if you rarely watch TV. If you don’t have the time to read the newspaper, then you can consider getting your daily dose of news online instead of buying the paper every day even if you don’t get to read them. Consider doing your grocery shopping from stores that offer their products at wholesale rates. You’ll be surprised with how much you’ll save every week. Eating out, either at fancy restaurants or at your favorite fast food should be lessened.

Draw a financial plan, one that states your goal for the year. This may include being able to steadily pay off your debts, starting your own retirement fund or opening a savings account at the local bank. Let the people around you, particularly your family, know what you are trying to achieve. Their support and encouragement will make a huge contribution as to how you will remain focused all year round.

Overcoming any financial difficulty may be a huge hurdle at first but it is something that anyone with a great amount of commitment and determination will be able to do.


*This is a sponsored post however, all the points and views are my own.

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