By John Banks, Sr. Director, Product Management
Operating a subscription-based business imposes unique challenges on different types of businesses. For our customers who often deal with a high volume of transactions, one of the biggest issues they run into is chargeback management.
“Chargebacks” are the reversal of a prior sale transaction between a merchant and a consumer when a consumer contacts their credit card issuing bank to dispute the charge.
Subscription merchants have the most significant challenge as a single customer can easily dispute multiple transactions through a single phone call to their card issuing bank, quickly increasing chargeback volumes. That’s why I often hear questions like: “Should I fight the chargeback?” and “What happens if I don’t fight chargebacks?”
There are plenty of reasons to invest in managing the chargeback process, but what if you could prevent the chargeback from ever being created? It’s this line of thinking that has been driving our new partnership with Verifi, which we announced this week.
Preventing chargebacks can bring huge cost savings:
That’s why I’m so excited about our new integrated solution that combines our Z-Payments solution with Verifi’s payment management technology. Together, we help clear one of the biggest roadblocks for high-volume businesses moving into the Subscription Economy.