Tags: chargeback

MX Merchant – Setting Notifications

MX Merchant allows you to set different notifications for different account events. Never be surprised about your account! You can also set notifications to alert you when you receive a chargeback, get a large deposit, or when statements are available. Choose to receive each notification via email or text-message. To [...]

What is the chargeback fee?

Dharma’s chargeback fee is $25. A chargeback occurs when one of your customers disputes a sale with their credit card company. Visa/Mastercard have a specific process that both parties will follow during a dispute, called the chargeback process. When representing you in the chargeback dispute, we will communicate directly with the [...]

What am I responsible for?

It’s a reasonable question – and a good one to ask. Consider credit cards like any other form of payment. All payment forms carry an inherent risk. Someone can pay you by check, but the check can bounce. You can accept cash, but your store can be broken into or [...]

Chargebacks and Retrievals

Chargebacks and retrievals are both related to customer disputes of a credit card transaction. A retrieval takes places when a customer’s issuing bank formally requests specific information from you, the merchant or us, the acquiring bank. Retrievals are $5 each. They’re relatively rare, but often times a retrieval will come in the [...]

What is a retrieval fee?

A retrieval occurs when your customer’s bank requests additional sales information from our processing bank. Typically, a retrieval will precede a chargeback, since a retrieval request often indicates that a customer is concerned about a specific charge on their account. Dharma’s retrieval fee is $5 per retrieval. Most merchants will [...]

What is a Reserve?

A reserve is a risk-mitigation tool that helps processors and merchants ensure that there funds available to cover unforeseen losses. When accepting credit cards, there are certain risk factors that increase a merchant’s probability to incur disputes/chargebacks, fraud, or business closure. For these scenarios, it’s helpful for the Merchant Service [...]

Chargeback Ratios

Your chargeback ratio is defined by Visa/Mastercard as total count of chargebacks, divided by your total count of sales, for any given time period. For example – if during the month of January you processed 500 sales, and had 4 chargebacks, your chargeback ratio would equal 4/500, or 0.80%. This would be [...]