Chargeback protection does not stop chargebacks. However, it does keep you financially whole if and when a chargeback occurs. Chargeback transactions can be used by offshore merchants and protects international ecommerce transactions.
Chargeback protection is essentially like insurance. If a chargeback occurs, you submit the claim to the chargeback company. You are reimbursed for the entire sale price plus all bank fee incurred by the chargeback.
Here’s how it works.
The chargeback company plugs into your payment processing system through an API. You can use any gateway and merchant
You choose what transactions you wish to have covered. You can put all transactions or only those you think have a high risk of chargeback through the system.
When a buyer makes a purchase, the chargeback company routes the information through an extensive array of verification programs. Once the sale is authorized by the chargeback company, it is sent through your payment gateway and on to the banks. If a chargeback occurs at any time on the transaction, you are covered.
The chargeback protection company charges a flat fee and a small percentage for every transaction it insures against loss.
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