To help your business grow and to increase efficiency that enables you to focus on your business, we have introduced a more efficient way of managing transaction disputes between you and your customers. Introducing: Rave Chargebacks.
First, what are chargebacks?
Chargebacks are used by consumers to dispute transactions and secure a refund for their purchase.
Basically, a chargeback voids a card transaction, withdraws funds that were previously deposited into the merchant’s account and credits it to the consumer.
So, isn’t this basically a refund?
Well, no. Chargebacks are different from refunds. For a refund, the consumer contacts the business for a refund while for chargebacks, the consumer goes over the merchant and asks the bank/processor to forcibly remove funds from the business’s account back to them.
Will the bank/processor always forcibly move funds back to the consumer?
If the bank/processor judges the cardholder’s request as valid, the funds will be removed from the merchant’s account and returned to the consumer. And this is where Rave Chargebacks comes in.
Rave Chargebacks provides you, the merchant, an opportunity to dispute any chargebacks.
How have we handled this prior to now?
Up till now, we handled this via numerous phone calls and different email threads. A hassle for you, really.
What have we done differently?
We have created a system where your chargebacks are handled right inside your Rave dashboard. You can view any chargebacks logged on your account by clicking “Refunds & Chargebacks” then selecting “Chargebacks” in the next screen. You can either accept the chargeback which means value is deducted from you and deposited with the customer or you deny it giving enough proof why you are denying it. You can deny it in a situation where you have proof that customer got value, for example, customer logged a chargeback because of a delay in receiving goods but at the time of your response, customer has received goods. In this case, you show proof of this and that’s it.
As always, we’re committed to improving your payment collection experience.
If you have any questions, we’re happy to provide answers.
As always, with ❤️, Flutterwave.