Quote:
Originally posted by FloridaKid
I know I want all refunds to be approved by me...no one else....and if visa or MC comes a calling....Im damn sure that I can prove that mr or mrs customer approved that transcation....often times...people are just confused...you set them straight..keyword is YOU....
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Hello Florida Kid,
I disagree with the statement because the major portion of all internet fraud is is not someone confused if they did the charge or not.... its the consumer denying the charge or caliaming I didnt do it.
CDC's (Customer Denies Charge) as they have been referrenced here, are seen on your merchant statement as Code 61 for Visa and Code 37 for Master Card. High risk merchants are kept to a 1% CDC ratio or they are fined $100.
The chargebacks for consumers calling in and claiming they didnt do it are automatic...meaning you do not receive a retrieval request asking for proof. These disputes are charged back automatically without conferring with the merchant.
Often the consumer will still call the merchant after calling bank, unknowingly merchant issues credit and later receives chargeback... ask your customers if they have contacted their bank yet , regardles i would always contact their bank and findout if a chargeback had been initiated before giving a credit. This will save you great deal of $$ and aggrivation.
You may collect AVS/CVV/SS#/Issuing Bank,Email, IP, and a blood sample and Visa will not overturn the charge. Trying to obtain a 1% treshold on something you have limited control over is extremely difficult.
Only 1 in 100 has to say I didnt do it and you have reached your thershold. A reverand would have trouble selling bibles to his congregation and sustain that ratio. Another problem is that chargebacks trail transactions, meaning that a chargeback is not counted in the month it was transacted but against the month when the consumer called in to complain.
So J Jones hasnt been paying attention to his statement and realizes the last 3 months hes been paying for that porn site he never used. Calls bank claims ignorance. Now you are looking at 3 CDC chargebacks in a given month.
Heaven help you if your sales are down that month. Visa/MC wont take into consideration a loss in sales. So if you did half the transactions as last month for whatever reason, you may be seriously at risk of hitting your ratio.
In referrence to your statement "I can prove that mr or mrs customer approved that transaction". When considering CDC's, MC/Visa arent concerned that you can prove J Jones did the charge, they wont bother to ask. You may be able to occasionally correct the confused, but those consumers who know the game know they cant loose if the simply say "I didnt do it".