While not common, sometimes there will be disputes between business owners and their customers with regard to credit card charges. This can result in a chargeback.
A chargeback is a reversal from your merchant processing company of customer payments. Chargebacks might be initiated by the merchant company or your customer, depending on the reason for the reversal. You might have several procedures in place to prevent chargebacks, but even with those procedures, chargebacks can still occur. Some chargeback scenarios are resolved with brief customer contact and other chargebacks require communication with both your customer and the credit card or merchant company.
Common reasons for chargebacks include a declined credit card payment, customer-initiated disputes, issues with the quality of products, or undelivered orders.
Each payment processor in Full Slate has its own policies and procedures with regards to chargebacks:
To help with preventing chargeback claims with regards to a fraudulent credit card entry, Full Slate recommends that you select "Name, address, card number and CVC" under Setup --> Client Payments --> "What fields do you require to accept a card?"
If you have any questions about this, please feel free to reach out to Full Slate Support at firstname.lastname@example.org or (888) 489-6543.