LOS ANGELES — Mobius Payments has announced the launch of Mobius Chargeback Resolution Service, a managed chargeback prevention system where credit card issuers redirect chargeback requests to a resolution network, rather than proceeding with the processing of the chargeback.
According to the company, just as brick and mortar store owners accept shoplifting as a cost of doing business, anyone selling digital goods and services, or processing any online monetary transactions, has similarly accepted chargebacks as one their costs of doing business.
Mobius Chargeback Resolution Service helps resolve chargeback disputes —whether they are legitimate, fraudulent, or buyer’s remorse — before the chargeback process begins, by providing merchants with the first right to resolve the problem.
“Most chargeback disputes would probably be resolved if the buyer took the time to contact the merchant ahead of time,” Mobius Payments CEO Mia Zhu explains. “But the reality is, very few buyers reach out to the merchant until after they have started the chargeback process; and by that time there is very little the merchant can do other than take the time to fight it or accept the chargeback and the accompanying fees.”
Zhu says that when a merchant signs up with Mobius Chargeback Resolution Service, they receive the complete package of Mobius Payments’ backend chargeback remediation service, including prevention, remediation, recovery of funds, retrieval, and chargeback case files.
“No one likes giving a refund, but if the choice is a refund or a chargeback, the smart option is usually to just issue the refund and avoid fees associated with chargebacks and risk having your processing rates penalized,” Zhu added. “Mobius Chargeback Resolution Service allows the merchant to deal directly with the dispute before it becomes a chargeback, and we have seen this system lower chargebacks significantly for merchants.”