Chargeback Prevention is very different than chargeback management. There are many chargeback management services that offer dispute representation in that, when a chargeback occurs, they will represent the merchant in the dispute resolution process and respond with the necessary documentation to, hopefully, win the dispute so the merchant isn't out the cost of the sale IN ADDITION to having the chargeback on their record.
That's right! Winning the dispute does NOT cancel out the chargeback!
This is very important to understand since having an excessive amount of chargebacks can result in the termination of a merchant account. See Chargebacks Explained for detailed information on chargebacks and their implications.
Chargeback Prevention is a service that intercepts chargebacks at the credit card holders issuing bank and sends an alert to the merchant who can then issue a refund BEFORE the chargeback is ever issued!
This eliminates the chargeback entirely and helps the merchant maintain a good processing history and preserve his existing merchant accounts.
CyoGate's Chargeback Prevention services typically reduce chargebacks by 30%-40% or more, and is compatible with most card processors without requiring a CyoGate merchant account or use of the CyoGate Internet Payment Gateway.
See our list of Chargeback Reason Codes for MasterCard, Visa, Amex, and Discover to understand the causes of chargebacks and how they are reported with the different credit card companies.
An Internet Merchant Account is sometimes referred to as a "MOTO" (Mail Order & Telephone Order) Account because they all require the ability to process a credit card payment when there is no physical credit card present to be swiped. A standard retail "swipe" merchant account does not allow processing of these "card-not-present" transactions.
If the domestic banks are denying your merchant application because they believe your industry is considered high risk, CyoGate can help! We have an offshore network of merchant processing partners that enable us to provide low cost, high risk merchant solutions to a much wider range of businesses and industries.
The CyoGate Internet Payment Gateway offers one of the quickest and most cost effective ways to accept and process credit card and electronic check payments online. Our payment gateway works with most existing merchant accounts and supports hundreds of popular web shopping carts and eCommerce platforms.