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Chargeback Management

TIPS: Dealing with Cashback Chargebacks

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While offering cash back for purchases is really beneficial and satisfactory for customers, there are costs associated with it on the merchant side.

Debit card cash back first started 1980s and was a hit among consumers. There was no need to go to an ATM anymore for cash! 

There are restrictions that merchants and banks have placed on these cash back transactions. For instance, the cash back cannot be the total amount of the transaction. It also requires a terminal that can process these types of transactions. Merchants don't encounter fees with these transactions, but since all debit card purchases are subject to interchange fees, some merchants do require a minimum purchase.

How do these cash back transactions impact chargebacks? One concern for merchants is that consumers could return to the store and claim that the merchant did not give them the correct amount that they requested in cash back. One protection against this is that some stores require customers who want cash back to initial their receipt, acknowledging that they received the correct amount.

While there are some other concerns, it's important to note that true fraud from debit card cash back transactions is fairly uncommon due to the fact that the fraudster cannot remain anonymous.

This is good news for merchants wanting to implement debit card cash back but worried about the vulnerabilities that it may present for fraudsters.

Source:
https://www.chargebackgurus.com/blog/dealing-with-cash-back-chargebacks

©Chargeback Gurus 2020
Production: Courtney Freeman
Narration: Sarah Rife

TrustRadius is a technology and business research firm based in Austin, Texas. The company is known as a review platform for verified B2B technology and software reviews through a proprietary algorithm and human verification.

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