What To Do When A Customer Disputes
Customer disputes are painful. And costly. According to The Nilson Report, $31 billion will be lost to chargebacks by 2020.
But chargebacks don’t have to claim any more of your business’ hard-earned revenue. With proper post-transaction fraud management, you can recover the revenue from chargebacks filed fraudulently and/or mistakenly, as well as the unfounded product or service-related chargebacks. Typically, these represent as much as 70 percent of customer disputes.
In this post, we’re going to explain how merchants should handle customer disputes to recover the most amount of revenue possible.
Dave Wilkes is CEO of Chargeback. Wilkes has dedicated the last 20 years of his life to the payments industry. He started out with a company called ProPay back in 1999 where he was the senior vice president of business development, managing every aspect of sales, business development and product development there.