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The chargeback challenge

The chargeback challenge

Source: Clear2Pay

Clear2Pay examines the implications and opportunities for banks in handling a rising trend in chargeback transactions on consumer card accounts.

Card disputes represent a delicate balancing act. On one hand is the cost of processing chargebacks and the potential operating losses; on the other hand are the potential impacts on customer service and client relationships. Banks must review the dispute handling process to optimise while reducing processing cost and maximising efficiency. This implies a redefinition of chargeback strategy and scope resulting in a review of their entire chargeback processes.

Under consideration are the management of business objectives and strategy, fraud reporting, dispute handling process flows, image processing, staff resources, efficiency through business process redesign, etc.

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