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.
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:
- Ensure that all displayed pricing is clear and up to date.
- When appropriate, collect billing address, zip code, and CVV.
- Use additional ID verification such as a driver’s license.
- An agreement or authorization form provides you with additional documentation for large purchases and can also detail the product or service should a dispute arise later. Have the customer sign the form.
- Maintain a history of tracking and proof of delivery.
Credit Card Dispute Handling:
When it comes to resolving disputes between cardholders and merchants, each card network follows its own set process. Merchants have the option to contest the dispute by submitting evidence to the card issuer, or they can decide not to contest it and accept the dispute. The card issuer will then make a final decision based on the evidence provided. With Worldpay, through the Worldpay IQ portal, you are provided several tools to assist you, the merchant, in this process. The dispute process, when working with Worldpay, is handled entirely outside of the FusionPay dashboard or Service Fusion platform. These are handled with Worldpay directly through their IQ portal.
Take me to the Worldpay support page to help me with the dispute process using the Worldpay portal