Chargebacks – Fraud – Claims – Disputes – Refunds
Here is the deal: A lot of Customer success directors want to own the Risk/Chargeback manager of the company they work for.
Not so fast. Do you know the difference between a refund and a chargeback?
Do you know the difference between a dispute and a claim?
Does your back end translate the difference?
1. Disputes should be under Customer Success, since the customer needs some help for a purchase that was either never received, or received and has an issue.
There is where the Customer success department sets the policy for such transactions to make a customer happy.
2. Claims and chargebacks fall 100% under Finance department, since it involves money/revenue at risk to be lost.
This is where your Risk Manager fights back against all those transactions and with a few clever steps wins them for the Company.
3. Fraud: Also under Finance Department. Here is where the Risk Manager sets up and adds fraud filters to all your online transaction channels.
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