The NFIB Small Business Legal Center has released a new Credit Card Chargeback Guide aimed at helping small businesses handle and prevent disputes related to chargebacks. Chargebacks arise when customers contest charges with their credit card companies or banks, posing challenges for small business owners. These disputes can affect customer relations and accounting, sometimes leading to fees or income loss.
Beth Milito, Executive Director of the Small Business Legal Center, stated, “Unfortunately, single-handedly winning a chargeback dispute is extremely difficult. In fact, statistically speaking, merchants win only 32% of the time. The best way to win a chargeback is to prevent it in the first place.”
The guide offers background information on chargebacks, strategies for contesting disputes, and advice on preventing them from happening.
The complete NFIB Small Business Legal Center Credit Card Chargeback Guide is now accessible along with other resources and guides from NFIB’s Legal Center.
A note accompanying the guide clarifies that it does not provide legal advice and recommends consulting an attorney for specific situations.
