Recently we’ve been talking about CDRN by Verifi, a Visa owned company, and how it can help protect merchants against false and erroneous chargebacks. And you may have wondered whether Mastercard has a similar program.
One way for companies to reduce chargebacks is to prevent them from ever happening in the first place. Another way is just to fight every dispute that comes your way, regardless of size and amount. That’s because chargebacks count against your dispute ratio, and if you get enough of them, you’ll be placed in your card networks’ monitoring services which means you pay a higher percentage of all your transactions.
Honestly, credit card statements and bank statements can be some of the biggest sources of chargebacks, and can be a real pain for both merchants and banks. When a consumer doesn’t recognize a charge on their bank statement, they immediately call the bank and dispute the charge.