What Is A
Chargeback Report?
A chargeback
involves various parties- Cardholder, Merchant, Issuers Bank, Acquirer Bank,
and Card Network. A chargeback goes through the system of each of the entities
mentioned above.
A chargeback the report contains the flow of money and mentions the stage where the things went
wrong leading to a chargeback. A merchant can create his own database logging
the details of each chargeback that occurred in the business.
When it
comes to business, the data and services are needed to be organized. This is
because one needs to keep a record of everything from revenue to product to the
number of chargebacks. If you have a business that accepts credit card payments
then there sure will be some chargebacks.
If you are
connected to a chargeback management company and think that all your chargeback
issues are taken care of, then you may be wrong. You need to keep an eye on
each of your chargeback reports, monthly.
Ingredients
of chargeback report
•Transactions
Details (Amount, Mode of Payment, Customer’s Information)
•Chargebacks
(Chargeback Amount, Reason of Chargeback, Time Frame to resolve the Chargeback)
•Representments
•Pre-Arbitration
•Finally,
Chargeback Reason Code
Short
Summary
A well-composed chargeback report can actually help evaluate the pattern of the
chargeback occurrence. Furthermore, you can study the pattern to finally assess
risks.
•Prepare
Chargeback Alerts
•List
Win-Chargeback Report
•Calculate
the Number of Representments resulted in merchants favor
•Report the
number of days of a month rich in chargeback
•Identify
merchant errors
•Review the
risk causing factors
•Identify
areas offering most profit and loss
•Identify
the most common chargeback reason codes in the business.
A well-organized chargeback report can
actually, help:
•In
predicting chargeback in upcoming months
•In creating
a more effective chargeback prevention strategy
•Designing
methods to recover the revenue lost due to excessive chargeback
•Finally, decreasing
the frauds caused in the name of chargeback
To get an
information about chargeback reports you need to get in touch with us.
Chargeback expertz will give you a proper diagnosis about the business and
suggestions which is more fruitful and productive for your firm. Call us at +1
855-465-4723 or mail us at app@chargebackexpertz.com.
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