Arbitration with Visa Credit Card?
Posted on October 2nd, 2009 by admin
One of our online customers placed an order 11 times during the month of August. Each worth about $80. He, then, filed chargeback(s) with his credit card company claiming that those charges were frauds.
However, all the credit card information matches (billing & shipping addresses) with his.
Most packages were shipped via UPS and were delivered to his door. Some of them were left in front of the door and some of them were hand delivered.
After all those chargebacks and 2nd chargebacks, our merchant service rep is trying to convince us to to file the Arbitrations for those transactions. He says we have all the required documents and the customer’s credit card information matches, there is no reason why we would lose the cases.
The thing is arbitration costs $500 for each transaction. If we file the arbitrations for all 11 chargebacks, it would cost us $5,500 plus the lose of merchandise due to chargebacks.
What should we do? Do we have the case here?
Sorry, Yahoo wouldn’t let me type in more detail in the original question due to the 1,000 character limit. Thus, I’m adding an additional detail here.
Regarding the fees, both parties must make deposit of $500 for each case. Once the case is over, the losing party will lose all that money. In this case, $5,500 for 11 cases. Of course, winning party takes back all his deposits. In other words, if we win, we get back $5,500 deposit + the original sales amount (approx. $1,000 for 11 sales.)
We declined to file arbitrations by taking $1,000 lose due to chargebacks, but our merchant service rep keeps calling us to file the cases.
May be, he filed the arbitrations already without our approval, thinking that we will. I don’t know. It’s just my assumption.
7 little known Visa credit card facts to bowl you over
1. Visa stands for Visa International Service Association. The company consists of six different entities. Each segment focuses on one particular geographical area, providing offers and meeting regulations that vary from region to region.
2. There is a huge variety of credit cards suited both to the corporate and consumers. For every $100 that consumers spend, approximately $14.60 is spent with a Visa-branded product.
3. More than 500 million Visa credit cards are currently circulating in United States. This is the nations leading electronic payment brand.
4. No credit cards are directly issued by Visa. An association of member banks provide cards to its wide customer base.
5. Visa is accepted in over 150 countries around the world. This makes it as one of the most universal credit cards available. The wide acceptance of Visa is substantiated by the fact that more than 20 million merchants accept Visa cards across the globe.
Read more from: http://www.credit-card-gallery.com/article/211,7_little_known_Visa_credit_card_facts_to_bowl_you_over
October 2nd, 2009 at 10:53 am
7 little known Visa credit card facts to bowl you over
1. Visa stands for Visa International Service Association. The company consists of six different entities. Each segment focuses on one particular geographical area, providing offers and meeting regulations that vary from region to region.
2. There is a huge variety of credit cards suited both to the corporate and consumers. For every $100 that consumers spend, approximately $14.60 is spent with a Visa-branded product.
3. More than 500 million Visa credit cards are currently circulating in United States. This is the nations leading electronic payment brand.
4. No credit cards are directly issued by Visa. An association of member banks provide cards to its wide customer base.
5. Visa is accepted in over 150 countries around the world. This makes it as one of the most universal credit cards available. The wide acceptance of Visa is substantiated by the fact that more than 20 million merchants accept Visa cards across the globe.
Read more from: http://www.credit-card-gallery.com/article/211,7_little_known_Visa_credit_card_facts_to_bowl_you_over
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