The last thing you want is to have more fees you have to pay out of your profits every single month, but for merchants who experience continual chargebacks, that’s exactly what happens. Chargebacks can be frustrating for business owners. They’re incredibly costly, and they come with some pretty serious negative consequences. Companies looking to offset the potential damage from chargebacks turn to a number of solutions, including chargeback software, but is it really worth it? The short answer is absolutely.
What is Chargeback Software?
If you’re unfamiliar with the concept, software for chargebacks is a way to help you identify the process in its earliest stages. It helps to give you an upper hand. With the best IT chargeback software, you’ll find immediate notification that a chargeback is occurring. Then the software goes on to handle the entire process for you, helping to free you up to run your business.
So, why is a simple piece of software so valuable for your company? Maybe because the rate of friendly fraud is increasing enormously. In fact, many studies have found that 86% of all chargebacks involve friendly fraud. Some studies have even found that 81% of customers will initiate a chargeback because it’s more convenient for them than any other process.
The benefits of software like this are enormous. It means you no longer have to worry about your cash flow. You can begin to see what chargebacks are costing your company in clear terms, which may help you develop a plan for preventing chargebacks in the first place. What’s more, though, is that if they happen, you’ll have the immediate response of the software on your side to help you deal with them the instant they’re initiating, help you stop the problem before it becomes a serious issue for your company.
If you’re looking for the best chargeback software, look no further than Y2Payments. We can help you stop chargebacks before they start. To learn more, contact us today.