Owning and operating a successful business has its typical challenges under normal circumstances, which can oftentimes lead to frustration and anxiety. While most successful owners take safeguards to protect their businesses, chargebacks —or credit card disputes—can not only damage but in some cases destroy a business. So, the million-dollar question remains, and that is how to reduce chargebacks in your business.
When a customer receives their statement or reviews their account transactions online, they might question a charge and contact the credit card company. After a dispute has been submitted, the business will, in turn, be notified that a chargeback has been filed and that there is a review in progress.