Secure payment options are absolutely necessary for businesses today, but it’s almost surprising how difficult it can be to find secure payment solutions that offer features like MOTO card processing and card not present transactions without costing the merchant a fortune.

There are likely to be plenty of roadbumps along the way, and every business owner has dealt with credit card payment system problems even with the most advanced system and the best security protection. One of the biggest issues that business owners face today is a credit card chargeback. Here’s what you need to know about credit card chargeback processes and how to prevent them:

• A chargeback is something that protects consumers when they use a credit card or debit card to pay for something; consumers can file a complaint after their card has been used to make a purchase, and they can explain why they shouldn’t be held liable for a purchase.
  

• The most common reasons for a chargeback are fraudulent purchases (like what happens when your personal information or credit card information is stolen), because an online vendor never sent the product that that customer paid for or sent a damaged product, because there was a technical issue with the credit card payment system that caused the consumer to be charged twice, or because the product was returned to the vendor but the consumer’s money wasn’t refunded.
  

• The chargeback system is in place to help protect consumers, but the result is often that vendors are penalized simply because their secure payment options malfunctioned or because a customer’s personal info was stolen. The vendor is typically charged by the issuing bank, or the institution that provided the card to the customer, and it can be very expensive if the merchant is constantly found at fault.