Exclusive service reduces chargeback numbers, saves merchants money
Even when a merchant account is forced to shut down, that account continues to be at significant risk from the damage done by chargebacks. Without the ability to intercept or refund those incoming disputes, merchants can suffer the effects of consumer frustration and experience a drop in consumer confidence.
National Merchants Association (NMA), a global merchant advocacy group and a leader in merchant services, is thrilled to announce a solution.
Accounts that are protected by NMA’s Chargeback Control Program (CCP) now have the added security of Post MID-Closure Refunds built in.
“This is a very big deal for agents and merchants,” said Chief Operations Officer Brian Randolph. “This is a major pain point for anyone involved in the payments industry and this is a solution that will help remedy an unfortunate side effect associated with closed MIDs.”
Armed with NMA’s CCP and Post MID-Closure Refunding, merchant accounts will stay protected with CCP’s continued bank-level interception and automatic refunding, avoiding the costly, damaging effects of chargebacks. That means the merchant saves money and will typically lead to earlier reserve releases.
This CCP and Post-MID-Closure Refunds program reiterates NMA’s dedication to protecting merchants and their consumers. It protects agents and advertisers from chargebacks piling up on their portfolio, thus improving their perception within the industry and increasing public trust.
“This is something merchants and ISOs have been asking of NMA for years, and we’re incredibly excited to deliver this,” Randolph said. “It is yet another example of how National Merchants Association continually works on behalf of its partners to optimize their ability for success.”
For more information about Chargeback Control Program and the Post-MID Closure Refund feature, visit nationalmerchants.com or call (866) 509-7199.
