09/13/2021

Seven Popular Chargeback Management Tools

Consider implementing these protections

Unfortunately, businesses that accept credit cards from customers and vendors also deal with chargebacks and the costly side effects that come with them. When a cardholder asks their processing bank to reverse a charge, it leaves merchants financially liable for the transaction. To combat the rise of credit card fraud, many merchants use chargeback management and protection techniques to protect their bottom lines.

Below is a list of the most popular — and effective — chargeback management tools being used by companies around the world today to help merchants protect themselves from nefarious and friendly fraud.

Seven Popular Chargeback Management Tools

1. Card Security Codes – Card security codes may seem like a basic chargeback protection technique for merchants, but they can stop fraud in its tracks. For a card-not-present order, asking for the security code provides an extra layer of protection for all merchants. If a fraudster has access to a credit card number but not the security code, they will not be able to complete the transaction.

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