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What is a Credit Card Chargeback

If you are a small business owner and you accept credit card payments, then keep reading.

Did you know if your customers successfully dispute credit card payments to your company, you not only have to give the money back, but also pay a fee. This is known as a chargeback and the laws favor customers. This can hurt both your reputation and your cash flow.

This presentation is a short introduction to chargebacks.

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What is a Credit Card Chargeback

  1. 1. WHAT IS A CHARGEBACK? AN INTRO FOR EVERY SMALL BUSINESS OWNER WHO ACCEPTS CREDIT CARD PAYMENTS © 2017. Equilibria, Inc.
  2. 2. FLUSHING MONEY DOWN THE DRAIN © 2017. Equilibria, Inc. CHARGEBACKS ARE LIKE… 2
  3. 3. the charge a credit card merchant pays to a customer after the customer successfully disputes an item on his or her credit card statement . ~Investopedia.com A CHARGEBACK IS… ” “ © 2017. Equilibria, Inc. 3
  4. 4. If one of your customers successfully disputes a charge from your company, the credit card processor will not only require you to credit or charge back the disputed amount to the customer’s account, but will also charge you an additional penalty. © 2017. Equilibria, Inc. 4 IN OTHER WORDS…
  5. 5. Merchant & Processor Relationship - How it Works + © 2017. Equilibria, Inc. 5 When you accept credit cards, you are known as the merchant. You have options for how you accept credit cards. Both options require entering into a contract with a credit card processor where you will pay either a flat fee or % of each sale to process a payment. DIRECT OPTION INDIRECT OPTION
  6. 6. If too many of your customers request chargebacks, the processor can actually freeze your account and end your contract. © 2017. Equilibria, Inc. 6
  7. 7. THE FOLLOWING IS BASED ON A TRUE STORY The events described on the next few slides took place in Atlanta, GA USA in 2006. Names have been changed to protect the business owner’s identity. © 2017. Equilibria, Inc. 7TRUE CHARGEBACK STORY
  8. 8. Meet Sam Milton. He worked hard to build his online business, Stuff, Inc. After a successful launch, he knew he needed to prepare for the avalanche of business sure to come over the holiday season. © 2017. Equilibria, Inc. 8TRUE CHARGEBACK STORY
  9. 9. Sam’s preparation included:  Hiring more staff  Negotiating shipping and delivery costs  Website testing  Pricing items © 2017. Equilibria, Inc. 9TRUE CHARGEBACK STORY
  10. 10. Sam gained his e-commerce knowledge by being a vendor on Etsy.com. The experience taught him that the Nov. – Dec. timeframe accounted for 75% of his annual sales! © 2017. Equilibria, Inc. 10TRUE CHARGEBACK STORY SEPT OCT NOV DEC
  11. 11. But there was one thing Sam forgot. When customers purchased products, the vendor name cited on their credit card statements was Sam Milton, and not Stuff, Inc. © 2017. Equilibria, Inc. 11TRUE CHARGEBACK STORY
  12. 12. Confused, many customers called PayPal to report fraudulent activity. Because the number of people disputing charges in a short period was so high, his bank froze his account. Sam lost all of those sales and not only had to return the money but also pay additional fines. Unable to recover financially, Sam shut down his online store. © 2017. Equilibria, Inc. 12TRUE CHARGEBACK STORY
  13. 13. In Sam’s case, the one thing he did not have in place once he launched his online store were processes. Specifically, processes for handling product returns and chargebacks. © 2017. Equilibria, Inc. 13 BUT THERE’S HOPE…
  14. 14. Maximize Profit from Every Sale Processes are just one of the things Sam needed to prevent chargebacks. Gain more insights from Sam’s mistakes and avoid costly chargebacks with our additional tips. © 2017. Equilibria, Inc. Yes, I Want Free Tips to Protect My Business from Chargebacks 14
  15. 15. Thank You! © 2017. Equilibria, Inc. Alicia Butler Pierre Founder & CEO Equilibria, Inc. 15 Visit Us Online

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If you are a small business owner and you accept credit card payments, then keep reading. Did you know if your customers successfully dispute credit card payments to your company, you not only have to give the money back, but also pay a fee. This is known as a chargeback and the laws favor customers. This can hurt both your reputation and your cash flow. This presentation is a short introduction to chargebacks.

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