{"id":197860,"date":"2021-12-31T18:21:58","date_gmt":"2021-12-31T18:21:58","guid":{"rendered":"https:\/\/www.360prwire.com\/?p=736443"},"modified":"2021-12-31T18:21:58","modified_gmt":"2021-12-31T18:21:58","slug":"mastercard-disputes-what-are-they-and-how-to-deal-with-them","status":"publish","type":"post","link":"http:\/\/ipsnews.net\/business\/2021\/12\/31\/mastercard-disputes-what-are-they-and-how-to-deal-with-them\/","title":{"rendered":"Mastercard Disputes \u2013 What Are They and How to Deal with Them?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Successfully dealing with chargeback disputes is a complicated and draining process for merchants. It\u2019s made worse by the fact that the chargeback process varies between card networks. Most merchants often deal with Visa and Mastercard chargebacks. Though their processes are similar, there are some minor differences in deadlines and rules merchants should adhere to. The differences in terminologies can be confusing as well.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-736442 size-full\" src=\"https:\/\/www.360prwire.com\/wp-content\/uploads\/2021\/12\/4694.png\" alt=\"\" width=\"417\" height=\"217\" srcset=\"https:\/\/www.360prwire.com\/wp-content\/uploads\/2021\/12\/4694.png 417w, https:\/\/www.360prwire.com\/wp-content\/uploads\/2021\/12\/4694-300x156.png 300w\" sizes=\"auto, (max-width: 417px) 100vw, 417px\" \/><\/p>\n<p><span style=\"font-weight: 400\">To manage disputes effectively, merchants should learn to play by the card network rules. Below is some information to get you on the right path of handling Mastercard chargebacks.\u00a0\u00a0<\/span><\/p>\n<p><b>What is a chargeback?<\/b><\/p>\n<p><span style=\"font-weight: 400\">A chargeback is a disputed transaction that involves a transfer of funds from a merchant back to a consumer\u2019s account after a purchase was made. These disputes are accompanied by <\/span><a href=\"https:\/\/justt.ai\/chargeback-reason-codes\/\"><span style=\"font-weight: 400\">chargeback reason codes<\/span><\/a><span style=\"font-weight: 400\"> which explain why the chargeback was\u00a0 filed. Mastercard had a long list of reason codes in the past, but they\u2019ve since simplified it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The four-digit Mastercard reason codes fall into four categories:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Authorization<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Fraud<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Point-of-Interaction Errors<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Cardholder Disputes<\/span><\/li>\n<\/ul>\n<p><b>How to fight Mastercard chargebacks<\/b><\/p>\n<p><span style=\"font-weight: 400\">The Mastercard chargeback process follows the below steps:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">First presentment<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Chargeback\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Second presentment<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Pre-Arbitration<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Pre-Arbitration Response\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Arbitration<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">In the second presentment, a merchant can fight the chargeback by submitting a rebuttal letter and compelling evidence to support their claims. The issuing bank reviews the documents and makes a decision.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Unfortunately, though Mastercard dictates chargeback reversal rules, different issuers interpret the guidelines differently, leading to different outcomes. If you are constantly losing to a specific bank, test different templates, documents, and letters to determine which gets the highest win ratio.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, such experimentation takes time. If time isn\u2019t a luxury you can afford, enlist the help of a chargeback mitigation solution to fight chargebacks and get you a higher win rate.\u00a0<\/span><\/p>\n<p><b>How to avoid Mastercard chargebacks<\/b><\/p>\n<p><span style=\"font-weight: 400\">The best way to deal with chargebacks is to prevent them from happening. Some tips you can use to do this include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Insist on authorization \u2013 Mastercard authorization on purchases is crucial. As a merchant, if every card purchase is authorized, you can rest easy knowing the consumer\u2019s bank knows about the transaction amount charged. If the bank declines the card for whatever reason, you should decline transactions from that specific card too.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Avoid double-charges \u2013 duplicate transactions often result in chargebacks. They happen when a consumer accidentally clicks the \u2018buy\u2019 button twice on an online store. Or when an in-store employee swipes a card twice to try and complete a transaction. MasterCard encourages businesses to monitor sales records to catch these errors and initiate refunds to avoid chargebacks.\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Ask for\u00a0identification \u2013 a merchant can avoid in-store fraud by asking for consumer signatures or personal identification for large purchases. Creating an online identification verification system for the business is crucial too. The system can be as simple as verifying the cardholder\u2019s address or requesting the CVV code.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Institute clear and honest business policies \u2013 being transparent and upfront with consumers helps avoid chargebacks. Clearly state your refund and return policies, honor the policies fairly, ship products fast, and be proactive in keeping customers happy.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Communicate with your bank \u2013 when dealing with Mastercard chargebacks, acting fast is in your best interest. Missing deadlines could lose you the chargeback, which translates to lost transaction amounts and incurring Mastercard fees.\u00a0\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Though these measures can help reduce the number of chargebacks you receive, they don\u2019t eliminate them 100 percent. Instead of busy merchants running A\/B tests to determine the best template, it\u2019s more efficient hiring a <\/span><a href=\"https:\/\/justt.ai\/\"><span style=\"font-weight: 400\">chargeback mitigation solution<\/span><\/a><span style=\"font-weight: 400\"> to increase your success rates.<\/span><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.360prwire.com\/mastercard-disputes-what-are-they-and-how-to-deal-with-them\/\">Mastercard Disputes \u2013 What Are They and How to Deal with Them?<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.360prwire.com\/\">360PRWire<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Successfully dealing with chargeback disputes is a complicated and draining process for merchants. It&rsquo;s made worse by the fact that the chargeback process varies between card networks. Most merchants often deal with Visa and Mastercard chargebacks. Though their processes are similar, there are some minor differences in deadlines and rules merchants should adhere to. The &hellip;<\/p>\n<p> <a href=\"https:\/\/www.360prwire.com\/mastercard-disputes-what-are-they-and-how-to-deal-with-them\/\"> <span>Mastercard Disputes &ndash; What Are They and How to Deal with Them?<\/span> Read More &raquo;<\/a><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.360prwire.com\/mastercard-disputes-what-are-they-and-how-to-deal-with-them\/\">Mastercard Disputes &ndash; What Are They and How to Deal with Them?<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.360prwire.com\/\">360PRWire<\/a>.<\/p>\n<p> <a href=\"http:\/\/ipsnews.net\/business\/2021\/12\/31\/mastercard-disputes-what-are-they-and-how-to-deal-with-them\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":331,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[374],"tags":[],"class_list":["post-197860","post","type-post","status-publish","format-standard","hentry","category-ipsnews"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mastercard Disputes \u2013 What Are They and How to Deal with Them? - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/ipsnews.net\/business\/2021\/12\/31\/mastercard-disputes-what-are-they-and-how-to-deal-with-them\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mastercard Disputes \u2013 What Are They and How to Deal with Them? - Business\" \/>\n<meta property=\"og:description\" content=\"Successfully dealing with chargeback disputes is a complicated and draining process for merchants. It&rsquo;s made worse by the fact that the chargeback process varies between card networks. Most merchants often deal with Visa and Mastercard chargebacks. Though their processes are similar, there are some minor differences in deadlines and rules merchants should adhere to. The &hellip;  Mastercard Disputes &ndash; What Are They and How to Deal with Them? Read More &raquo; The post Mastercard Disputes &ndash; What Are They and How to Deal with Them? appeared first on 360PRWire. 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It&rsquo;s made worse by the fact that the chargeback process varies between card networks. Most merchants often deal with Visa and Mastercard chargebacks. Though their processes are similar, there are some minor differences in deadlines and rules merchants should adhere to. The &hellip;  Mastercard Disputes &ndash; What Are They and How to Deal with Them? Read More &raquo; The post Mastercard Disputes &ndash; What Are They and How to Deal with Them? appeared first on 360PRWire. 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