How Chargebacks Help you, the Consumer

Payment processing consultant

These days cardholders have to be more vigilant than ever. Identity theft has never been worse, and thoroughly checking your credit card statement is essential. Inconsistencies on your credit card statement should be investigated immediately to avoid lasting damage to your credit. Chargeback credit card services helps cover the merchant from this and a variety of issues. The internet allows for products and services to be purchased even when a card is not physically present. There are many credit card payment services, but not many ways to protect consumers from fraudulent or wrong activity with that card.

Services are not Delivered
With a secure payment processing system you can be assured that your service will be delivered and that there is a record of payment for the services. With chargeback credit card protection, you the consumer are able to file a complaint in regards to fraudulent transactions that appear on your statement. This assures that you the consumer pay only for services you receive and are not charged for services that are not delivered.

Credit to Account not Received
Sometimes when services or products are received, consumers are not satisfied with them. For this reason many times the product is returned or the service is cancelled. If the full refund amount is not credited to your account this can cause problems. Charge backs hold the merchants liable for any and all charges to the account.

Technical Problems During a Transaction
Ever tried to check out with your credit card and received an error message? Were you concerned with entering your information again for fear that you would be charged twice for only one service or product? Payment processing companies typically do not have any control over problems during checkout, and if you end up getting charged twice then you may feel like there is not much you can do. With chargeback credit card services, you can have the money refunded if you were charged twice in the event of a processing error during the transaction.

The current number of visa credit cards is expected to rise 28% by the year 2017, and the number of master card credit cards should increase by 36%. This means many more credit card payment for online merchants. In 2010 the average family had four or more credit cards within their household. With so many online credit card transactions being processed daily, it is important for the consumer to know that they are protected from fraudulent activity.