E-commerce payment methods without chargeback

Diego Katzman

Diego Katzman
Published 01/12/2020 · 3 min read

Before we start showing you the most advanced payment methods on the market for e-commerces and marketplaces, let's clear up the question around chargebacks. What are they? Why do they occur? What causes them? Are they the same as refunds?

Join us in this post and clear up all your doubts.

 

What is chargeback?

It is known as the returns that occur when the bank responsible for a request requests a refund on behalf of the holder. You do not agree with the charge for some reason, so you claim the transaction through the card issuing bank and a dispute is initiated based on the rules

That said, it is not to be confused with a refund because they're not the same thing. Unlike the chargeback, it is not a cancellation of a purchase made by the card operator, but rather a refund of the money spent by the customer and carried out by the company making the sale.

 

What are the most common types of chargebacks?

Pay attention to the most recurrent types of chargebacks in e-commerces and check if you've experienced them in your business too:

  • Duplication of the charge.

The shop charges the product twice by mistake.

  • Goods not received.

It is ideal to have well-defined information about delivery times and the tracking of the purchased product.

  • Fraud.

This is perhaps the most common chargeback between the cardholder and the e-commerce.

  • Return of the sale.

Sometimes, the buyer can request a refund or cancel the purchase, but does not receive a refund of the money.

 

How can you solve this?

 

PayXpert: payment gateway to stop your e-commerce chargebacks

Are returns affecting your business? How do you control your e-commerce transactions?

It's time to find a solution with PayXpert, a payment gateway that will allow you to control all your operations through an advanced dashboard. Imagine having all your financial data at any time to diagnose failures or risks. At PayXpert, we make it easy for you to increase your customers' conversion while reducing the chargebacks that affect the operation of your online business.

Thanks to its cascading method, you can redirect transactions to alternative payment methods when an error occurs, as well as comply with the Data Security Standard for the Payment Industry through data tokenization.

It is true that the chargeback alone does not constitute a type of fraud, but it can be a procedure that makes it easier. Get ready, control your finances and have access to a complete view of your online business payment processing!

 

Advantages of using PayXpert payment methods

Returns or chargebacks are the great nightmare of online entrepreneurs. Especially when they're fraudulent. A very effective method to avoid them is to hire PayXpert payment gateway services, which make secure transactions possible, among other things:

  • Centralise and streamline payment processes.
  • Offer different advanced and completely secure payment methods (MOTO, PCI IVR, SOFT MPOS, etc.).
  • Advanced statistics to analyse data and get easy-to-understand statistics.
  • Technical and support team always available and trained to provide solutions in any situation.
  • Dashboard to observe customer and business behaviour.
  • More than 100 different payment methods adapted to the needs of your national and foreign clients.
  • Different currencies, thanks to the extensive network of acquiring banks.
  • Maximum security in payment data, thanks to the token technology of your platform.
  • Multi-bank functionality to operate with different entities.
  • It provides alternative means of payment and reconciliation in a single platform.
  • Internationalisation, as it allows payment from any location or origin and offers local payment methods.
  • Increased sales.

Having an integrated payment gateway, which offers good support, will eliminate all barriers that affect conversion and abandonment in your e-commerce shopping cart.

 

Frauds on the rise during the COVID-19 pandemic

The figures published by Autónomo Digital  state that "fraud with bank cards issued in Spain has been on the rise in recent years". And even worse, they have multiplied during the months of lockdown. The impact of the pandemic on financial institutions' fraud has been made clear through "fraudulent doctors and tests that, in the face of a shortage of tests and assistance, are offered in exchange for financial contributions; false suppliers of scarce products, such as masks or hydroalcoholic gel; cybersecurity threats, such as phising and malware; etc.".

Similarly, "there has been an upsurge in e-commerce, resulting in a massive migration to a non-present card (NPC), with the risks inherent to this operation and the difficulty in detecting fraudulent use of credit cards."

 

The security of e-commerce with PayXpert

The threat to the security and privacy of users is a reality that lives with us. It is no coincidence that the PCI DSS or Data Security Standard for the Payment Card Industry has emerged.  It is responsible for regulating the management and storage of data associated with individuals’ payment cards.  

Who should comply with these regulations? None other than all those businesses that manage or store data associated with individual payment cards. The only way to keep your business safe is to adapt it to the PSD2, whose main goal is to bring new electronic forms of payment to life and increase consumer confidence.

With PayXpert, it's possible! It is the payment processor capable of improving the security of your electronic operations without complications (optimisation of rejected operations, control of operations, processing, access to limited lists of filtered transactions, etc.).

Add value to your business with PayXpert!

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