A chargeback or payment dispute is a claim that gets created when a customer asks their bank/card issuer to reverse a charge. The reason could be the customer does not recognise the charge, or they felt the quality of goods or services wasn’t as promised or up to standard.
When this happens, our partner bank approaches us about the chargeback. We then reach out to you, the merchant, and request all documents that you have for the disputed transaction.
Tips on how to minimize and prevent chargebacks
- Keep it all on file.
- Make sure to keep a signed copy of your refund policy, all email and SMS invoices, and a complete record of your sales—including signed contracts, invoices, and purchase orders. This helps speed up the process if there’s ever a dispute.
- Always get a signed receipt for large sales.
- Disclose your refund policy at the point of sale.
- If possible ask for identification from the customer for high priced purchases.
These are the few pointers you can follow. If you have any further queries please reach out to us.