Important Terms:
Credit Card Dispute: A credit card dispute occurs when your customer contests a credit card transaction with their credit card company. This can happen for various reasons, such as unauthorized charges, incorrect amounts, or revoked authorization.
Credit Card Chargeback: A credit card chargeback specifically refers to when the disputed credit card payment is refunded to your customer.
Timeline for Credit Card Disputes:
A customer has 120 days after the payment was processed to dispute the charge.
Common Chargeback Reasons:
- Fraudulent transaction
- Duplicated charges
- Not as described/defective merchandise
- Services not provided or merchandise not received
- Refund not processed after the returned item
Best Practices for Credit Card Processing:
- Keep accurate records of customer agreements and transactions.
- If a dispute arises, reach out to the customer immediately to resolve any concerns.
- Regularly monitor transactions to detect potential issues before they escalate.
Credit Card Dispute Handling:
Service Fusion, nor Stripe, play a part in the dispute decision itself, but Stripe does provide tools to help you deflect the dispute. Use the Stripe portal to access these tools.
Take me to the Stripe support page to help me with the dispute process using the Stripe portal.