The best chargeback protection is a good relationship with your customers. If they are completely satisfied with your product or service, they will not go to the bank to demand a chargeback. In extreme cases, they will contact the company directly and ask for a refund. But what to do with those customers who are involved in various fraudulent schemes or simply do not recognize the purchase made due to forgetfulness or inattentiveness? For such cases, Maxpay offers to protect your account with the Ethoca Alerts tool.
What Strategy to Choose to Fight Chargebacks?
How to organize chargeback protection? What strategy to develop for customers who think this is the simplest way to refund? Let’s compare the two most generic approaches, namely, defending a company’s righteousness and compromising with a consumer. A particular plot for comparison is the following: a customer calls the bank and notifies it about the wish to initiate a chargeback.
| Defending the company’s position | Compromise with a consumer |
| Advantages | |
| You defend the honor and reputation of the company in case of victory in the dispute. Also, in case of success, you should not return the funds. | You keep a good relationship with the buyer. You will not have a chargeback. You will have a good rating in the acquiring bank. You will not have problems with loans and other necessary financial issues. |
| Disadvantages | |
| The dispute will take a lot of time and effort. If you lose the case, you must pay a commission for chargeback and dispute costs. There is a possibility that you will have to cover the costs even if you win the dispute. Chargebacks are taken into account by the acquiring bank, and your company’s rating will creep down. If there are a lot of chargebacks, there will be problems with financial institutions. | You will have to listen to negative words from the consumer. You will have to give in and, thereby, take a subordinate position. You will have to do a refund. |
This comparison proves that the best chargeback protection is the compromise with a customer. But how to get notified about the intention of a customer to initiate chargeback?
Open a merchant account at Maxpay and get the best Ethoca Alerts to safeguard you from chargebacks.
Build Your Chargeback Protection with the Best Gateway Services Provider
Business in Europe can be absolutely safe and chargeback-protected if you open a merchant account on the best Maxpay platform oriented to e-commerce. You will transfer money without any fear of fraud due to its advanced anti-fraud policies. The Ethoca solution is one of the most effective means of chargeback protection. It notifies the company about the possibility of a chargeback. When a customer complains to the issuer bank, the alert reaches the company immediately, thus giving it a lot of time to make the best decision.
Thanks to Ethoca Alerts, you will have a chance to reach a compromise with a customer and transfer money directly without the mechanisms of chargeback or dispute. Choose Ethoca and the wisest way of dealing with customers in any situation!
