#chargebackfight

What Is A Chargeback Report?

A chargeback involves various parties- Cardholder, Merchant, Issuers Bank, Acquirer Bank, and Card Network. A chargeback goes through the system of each of the entities mentioned above.

A chargeback the report contains the flow of money and mentions the stage where the things went wrong leading to a chargeback. A merchant can create his own database logging the details of each chargeback that occurred in the business.

Importance Of Chargeback Report

When it comes to business, the data and services are needed to be organized. This is because one needs to keep a record of everything from revenue to product to the number of chargebacks. If you have a business that accepts credit card payments then there sure will be some chargebacks.

If you are connected to a chargeback management company and think that all your chargeback issues are taken care of, then you may be wrong. You need to keep an eye on each of your chargeback reports, monthly.

Ingredients of chargeback report

•Transactions Details (Amount, Mode of Payment, Customer’s Information)

•Chargebacks (Chargeback Amount, Reason of Chargeback, Time Frame to resolve the Chargeback)

•Representment

•Pre-Arbitration

•Finally, Chargeback Reason Code

Short Summary

A well-composed chargeback report can actually help evaluate the pattern of the chargeback occurrence. Furthermore, you can study the pattern to finally assess risks.

•Prepare Chargeback Alerts

•List Win-Chargeback Report

•Calculate the Number of Representments resulted in merchants favor

•Report the number of days of a month rich in chargeback

•Identify merchant errors

•Review the risk causing factors

•Identify areas offering most profit and loss

•Identify the most common chargeback reason codes in the business.

A well-organized chargeback report can actually, help:

•In predicting chargeback in upcoming months

•In creating a more effective chargeback prevention strategy

•Designing methods to recover the revenue lost due to excessive chargeback

•Finally, decreasing the frauds caused in the name of chargeback

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