A BRIEF GUIDE ON CREATING A CHARGEBACK POLICY
When it comes to managing chargebacks properly, a merchant must really focus on developing an effective chargeback policy. For a merchant, a chargeback policy is a very important aspect, as it has the ability to impact the chargeback either negatively or positively.
What is a Chargeback policy?
A chargeback policy is simply a set of merchant’s management standards and philosophy for disputing and preventing chargebacks. Usually, the approach to the chargeback policies differ from one merchant to another, as some prefers to be aggressive, while some likes to make their chargeback policy in a conservative way.
Many merchants accept and consider a chargeback as part and parcel of the game. But in the long run, such approach will only prove to be costly and probably disastrous as well.
Here’s a look at some of the steps that you should follow to create an effective Chargeback policy:
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