If there is one word most Internet marketers quiver at the sound of, it is chargebacks. A chargeback is a dispute over a charge -usually an unauthorized or fraudulent charge- between the customer and the company. The merchant must pay back the entire amount along with any credit card fees. This amount is automatically deducted from your merchant account. There are three main problems about chargebacks that concern the merchant: 1. they lose the payment -and also the inventory if it was sent, 2. the fees associated with every chargeback are between $15 to $25, and worse of all 3. chargebacks don't look good, and you may lose your merchant account. Merchant services are pretty finicky; they do not just hand out accounts to anyone.



The customer could either be dissatisfied with the product, or there could be a duplicate order, or it could be fraud. Whatever the reason may be, it is crucial to your online business to keep chargebacks to a minimum. One way to stop chargebacks is to stop fraudulent orders by checking to make sure the order seems legit. http://Verexo.org offers a free online transaction verification system that is geared to consumers who would like to protect their credit card from unauthorized users. Verexo stores telephone and credit card numbers for consumers that are interested in an additional layer of security and protection for their credit card(s).

The way it works is simple. Through http://Verexo.org the consumer provides their phone and credit card numbers. This information is transmitted and stored on Verexo's secure servers. When the consumer's credit card is used for an online purchase, Verexo calls you to verify that you are the card holder. In addition to this step, online merchants will query Verexo's database to check and compare Verexo's information with merchant's information, to ensure that your card is being used by you. If not compliant with your profile at Verexo, the transaction would be denied.

With your support Verexo will be able to convince online merchants to query Verexo's database to ensure your card only gets used by you. You determine which stores are allowed to charge your card, you decide where you want your credit card to be used, and set a limit on how much you would like to spend. Verexo will offer you the option to opt-out of certain Internet purchases, opt-out of buying from specific online merchants (e.g. porn and gambling sites), and opt-out of purchasing from sites hosted in certain foreign countries.

One thing is for sure, in order to stop chargebacks we should first stop fraudulent transactions. That is why the Verexo system is the ideal solution for protecting consumers from online fraud and protecting merchants from chargebacks that cost them billions of dollars each year.