What are Chargebacks?

Transacting online in business is beneficial both to the business owner and consumers. It saves time and money spent on traveling to the store. Owing to technological advancement, many businesses have an established online presence. This means that customers can buy your products from your business website: the purchased item is delivered to the customer. Customers do not have to visit your store physically. There are, however, some issues that affect online business transactions. One of the problems is chargeback claims. 

 Chargebacks have become a common issue in companies or businesses that accept buying transactions using credit cards. What are chargebacks? There is a possibility of the card owner trying to dispute a purchasing transaction using a credit card on your business website. Your firm’s bank will let you know about the claim and the chargeback amount.  

The bills primarily impact phone, mail, and internet service providers: they mainly affect …