Zero ChargeBack Payment Processing: There is a solution

Chargebacks are payment disputes initiated by the consumer. They happen for various reasons including:

 Friendly fraud”. An example would be the consumer who really did call the 800# and got a fortune telling but realizing their wife/husband would not be happy they spent $99, call their credit card company and say–”wasn’t me”.

A second example is the product or service was not to their liking. The consumer may call and ask for a refund or be unhappy with the work or service performed.

A third example would be fraud. The card was compromised and used without permission.

If your business is in a higher-risk space chargebacks can cause serious problems with the most serious being account termination.

So is there a chargeback proof payment solution?

Yes.

But how?

Conventionally your merchant account provider (or Stripe etc) processes the payment by DEBITING (pulling $ out) of the consumer’s credit card or bank account. They then collect those $ and then in turn pay you out via an ACH credit to your bank account.

With Online Push Payments or Consumer Permission Payments, that payment flow is reversed. At checkout, the consumer connects to their online bank platform and an ACH credit is then pushed DIRECTLY from the consumer bank account to the business bank account.

The consumer authorizes the payment to be pushed to the business. The payment is both instant and final. There are no chargebacks because there was no debit.