Retail Services - Transaction disputes

Prevention is better than cure, says Andrea Dunlop, CEO of Card Solutions and Acquiring at Paysafe

Chargebacks can be extremely costly to businesses if they are selling services or products online.

The cost to businesses is twofold, both in the monetary sense and damaging to their reputation with the customer and card processors.

Therefore, it is in the business owner’s own interest to take steps to prevent chargebacks, aiming for a low chargeback rate.

However, dealing with chargebacks can be a challenge for retailers – especially for those in which payments issues are just a small part of running their business. So, what can be done?