Ernesto Lopez

One chargeback can ruin everything in your business. Business owner knows that chargebacks are a headache, but did you know they can escalate into a full-blown disaster? We constantly monitor chargeback ratios to ensure our clients stay within compliance. Why? Because a single chargeback can push your business over the threshold. And that can potentially lead to your merchant account being shut down. Here’s why you should take chargebacks seriously: ✅ Protect Your Merchant Account Even a single chargeback can inflate your chargeback ratio, potentially leading to your merchant account being shut down. This could halt your ability to process payments and severely impact your revenue stream. ✅ Maintain Compliance High chargeback ratios can put you out of compliance with card brand guidelines. Non-compliance can result in fines, increased processing fees, and even blacklisting by credit card companies. ✅ Preserve Business Reputation Frequent chargebacks can damage your business's reputation with banks and payment processors, making it harder to secure favorable terms in the future. ✅ Prevent Financial Loss Chargebacks not only mean lost sales but also incur additional fees and potential penalties. By addressing chargebacks promptly, you can minimize these financial losses. ✅ Enhance Customer Trust Proactively managing chargebacks shows customers that you take their concerns seriously and are committed to resolving issues, which can enhance trust and customer loyalty. Chargebacks aren’t just about numbers. Each chargeback reflects a potential issue with customer satisfaction, product quality, or even fraudulent activity. Ignoring them can lead to severe consequences, including losing the ability to process payments entirely. Our job is to make sure you never reach that point. We provide the guidance and support needed to keep your business running smoothly. Don't let a small issue snowball into a major problem. Address every chargeback with the seriousness it deserves. #BusinessSecurity #ChargebackPrevention #MerchantSuccess #PaymentProcessing #PaymentSolutions

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Curious about how long it takes to get a merchant account? 🤔 Dive into our resources to learn about the intricate timeline and factors that influence the process! https://lnkd.in/gbEFRzre #MerchantAccount #PaymentProcessing #BusinessTips #FinancialServices #FinTechRead

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Many merchant processors focus on rates and percentages, and then hit you with all kinds of back-end fees that are either buried in your contract, the statement, or both, making it hard to know how much you’re really paying until it’s too late. At TransAct, you don’t have to worry about any of that. We don’t lock you into a long-term contract and then increase your rates after a few months. In fact, we believe in our mission of building a solid relationship with our current clients backed by a strong team here to service our clients. We are so confident in our solutions that we offer most of our services without any contract at all. Contact us today to learn more about the TransAct advantage. #TheTransActAdvantage #BeExactWithTransAct . . . #PointOfSale #buckscountypa #buckscountybusiness #doylestownpa #NewHopePA #SupportLocal #smallbusinesses #supportlocalbusiness #ReduceCost #PaymentProcessing #merchantservices #CreditCardProcessing #cashflow #smallbusinesssupport #StreamlineYourBusiness #PhiladelphiaPA #TrentonNJ #WilmigtonDE #NewYork #Chicago #Baltimore #Orlando #Newark #RichmondVA #AustinTX #Ecommerce #smallbusinesssolutions #BNI

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Our Reporting Suite simplifies the complex, bringing all your mortgage data into one centralized platform. Quickly access pre-built reports that highlight what is and isn’t working, or have our support team build out custom reports that match your lending organizations unique needs. Ready to turn insights into action? #Aidium

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Struggling with complex and time-consuming Loan Origination System (LOS) development? 🤔 Our latest blog post has the solution! Learn how to streamline the process with our no-code approach and revolutionize your lending operations.  Say goodbye to coding headaches and hello to efficiency! 💻 Read now: https://bit.ly/3y0E1mn #Fintech #Innovation #NoCode #LoanOrigination #enterprisenocode

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How can a merchant prevent CHARGEBACKS? 1. Clearly communicate your refund policy if there is an agreement/proposal/invoice signed, make sure they initial any refund policies. 2. Train your staff how to handle returns and refunds so as to not provoke a Chargeback! 3. Make sure your transactions show the name that the customer knows! An unusual business name on a transaction creates doubt and Chargebacks! 4. Make an employee responsible for getting Chargeback Notifications; whether by email or mail! Chargebacks have about 14 days to be contested, when a merchant never opens the mail or checks emails it costs the business a lot of money! 5. Keep impeccable records of all payment transactions including a copy of the customer's signature, an authorization code, or a receipt showing the customer's full name, address, and other details. Whether online, in-person, receipts, invoices and email/text communications. All of these documents need to show that the customer knowingly and willingly made the transaction for you to win a dispute! Call Merchant Processing Solutions for more information: 954-938-2420

Did you know that Equity Protection, powered by NFP's has the option of an automated lending platform with your increased equity lending parameters built in? See how our lenders have given their members immediate access to increased equity loan options. https://bit.ly/3Yw2KrD

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Rose Rocket just launched a new mini series to teach you exactly how to leverage our online payments and powerful accounting features to speed up cash flow. The first video is now LIVE! Learn about Rose Rocket's online payments here: https://lnkd.in/gHSWkfgf #RoseRocket #Academy #OnlinePayments

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What’s the deal with friendly fraud? First-party fraud? Chargebacks?! No matter what way you choose to call it, it's an e-commerce nightmare for merchants, and it's the core reason for everything we do at PAAY. Friendly fraud is when people dispute charges on their credit cards, and in 2024, consumers are disputing charges more than ever before. This comes with a plethora of negative impacts for both the consumer and most of all, the merchant. Have you ever experienced #friendlyfraud ? 💳🔍🕵️‍♂️💼 https://lnkd.in/gqaPJJrg #FriendlyFraud #CreditCardChaos #NBCNews

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How many of you are still using checks to pay vendors or claimants? Now, you can disburse payments online quickly and easily. Tranzpay improves the customer experience with fast, outbound omnichannel payment options. https://lnkd.in/gb7v6b_r #outboundpayments

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Merchants always ask themselves why customers charge back instead of asking for a refund. Here's 3 reasons rooted in consumer psychology and steps you can take to reduce chargeback risk. https://hubs.ly/Q02yG4Fk0

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When a chargeback happens, it's important to act fast and be thorough. Here’s how to win your next chargeback: 1. Keep detailed receipts Make sure you have records that show the date, time, amount, and a clear description of what was sold. These should match the order and payment information exactly. 2. Provide proof of delivery Always use trackable shipping methods and get delivery confirmations or signatures, especially for expensive items. This shows the customer received their order. 3. Record all customer communications Save emails, chats, and phone call records to show you tried to resolve any issues and confirm the transaction was real. 4. Include extra evidence for specific cases For example, if you run a software service, include records of the customer’s usage, login times, and activity. 5. Use digital evidence Include things like IP addresses, device IDs, and location data to connect the transaction to the cardholder. That’s how you maximize your odds of winning and minimize the harm.

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Who Reviews Your Chargeback Evidence? | What Merchants Need to Know In this video, we’re sharing essential tips on the importance of knowing who’s reviewing your chargeback evidence. As a merchant, you may have multiple entities, including your PSP/acquiring bank, the issuer, and potentially the card scheme (in arbitration) reviewing your case. Each has its own processes, procedures, and a limited timeframe to make a decision. Have you noticed differences in win rates based on the issuer or acquirer? #Chargeback Evidence #justt #issuer #evident

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The most not-so-wonderful time of the year is fast approaching - Black 𝘍𝘳𝘢𝘶𝘥ay! While shoppers are hunting for deals on Black Friday, fraudsters are hunting for their next target 🎯 In fact, nearly 34 million Americans have been scammed during this time of year. 😱 Be sure to follow along as we’ll be sharing helpful tips, stats, and insights throughout November to keep you informed (and entertained) about fraud management for the holiday season. #FraudandDisputes #DisputeManagement #AutomatedDisputeManagement #FraudManagement #FinTech #BlackFriday

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Mail Order/Telephone Order numbers may be down in the age of eCommerce, but they’re not out. Many merchants still generate revenue through MOTO transactions as part of a well-diversified retail strategy. If you’re processing orders over the phone or through “snail mail” you’re facing unique challenges when it comes to preventing chargebacks. Check out our recent article to learn what it takes to navigate those challenges. #fraud #mailorder #moto #telesales #payments #chargebacks #transactions

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When your business is new, cash is tight and you don’t have an operating history to base payments on, so you wind up paying an exorbitant rate for merchant services. You’re looking for the lowest upfront cost and the fastest payment processing time. Start by leveraging our expertise. We’ll show you how to determine your true “cost of ownership” instead of dangling a low price in front of you. We’ll also show you how to use our payment processing system as a strategic business advantage that helps your new business to grow. You can also take advantage of the cost savings that TransAct offers over your bank or other options like Square. With TransAct, you’ll never pay for costly leasing programs or get locked into lengthy contracts. Call us today to learn more 📱800.335.6717 . . #TheTransActAdvantage #BeExactWithTransAct #innovation #startup #NoHiddenFees #ExceptionalService #PointOfSale #buckscountypa #buckscountybusiness #doylestownpa #Doylestown #ExploringDoylestown #SupportLocal #smallbusinesses #supportlocalbusiness #ReduceCost #merchantservices #CreditCardProcessing #cashflow #smallbusinesssupport #StreamlineYourBusiness #Philadelphia #PrincetonNJ #TrentonNJ #WilingtonDE #Chicago #AustinTX #Boston #smallbusinesstips #NYC

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The secret to supercharging your lending growth ⚡️🤫 In the final part of this series, Nathan Rea reveals the key to accelerating your time to ROI—lending data and projections. Book a FREE demo with one of our experts today to see how we can help you accelerate your path to profitability! 👉 https://lnkd.in/gXTkJ5Nb #Lending #LendingTips #LendingGrowth #LendingData #LendingProjections

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