How to Become a Merchant Chargeback Manager
Step 1: Understand the job description and responsibilities of a Merchant Chargeback Manager
What does a Merchant Chargeback Manager do?
A Merchant Chargeback Manager manages and oversees the daily operations of a group of fraud analysts/investigators and/or chargeback analysts, either directly or through subordinate supervisors. Develops and implements fraud/chargeback policies and procedures in order to achieve an overall acceptable fraud rate on CNP transactions. Being a Merchant Chargeback Manager manages analysis of transactional records and databases to determine fraud trends and assist in the development of risk mitigation strategies. Possesses expert understanding of fraud related data, model schematics, systems and tools. Additionally, Merchant Chargeback Manager typically requires a bachelor's degree. Typically reports to a Director. The Merchant Chargeback Manager typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. To be a Merchant Chargeback Manager typically requires 3+ years of managerial experience.
All merchants who accept credit card transactions are vulnerable to chargebacks.
While many merchants simply accept the chargeback as a cost of doing business, the savvy merchant understands that managing this intrusive occurrence is the smarter approach.
To provide comprehensive protection, merchants must engage in both tasks.
Although chargebacks cannot be completely avoided, there are steps you can take to help prevent them.
The more you know about processing procedures, the less likely you might be to do, or fail to do, something that could result in a chargeback.
Step 2: Learn best tips to become a Merchant Chargeback Manager
Best tips for those who want to become a Merchant Chargeback Manager
Here are some tips to become a Merchant Chargeback Manager.
Manually Approve Each Transaction (at First).
Cross-Check Red-Flag Buyers via Social Profiles.
Automate Fraud Pattern Analysis.
Clearly Label Your Merchant Information for Customer Billing.
Call or Email Customers Who Chargeback.
Step 3: View best colleges and universities for Merchant Chargeback Manager
Best colleges and universities for Merchant Chargeback Manager
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be a Merchant Chargeback Manager
Is being a Merchant Chargeback Manager Worth it?
Merchants find themselves wrestling with the chargeback process, which is triggered when consumers dispute a purchase transaction, mostly on e-commerce sales.
Increasingly, friendly fraud has also become a direct cause of merchant chargebacks.
This report delves into chargeback reasons and implications as well as vendors of chargeback services that have emerged to provide solutions for merchants.
The report assesses the challenges and preventive solutions for this increasing problem that affects merchants of all sizes across vertical markets.Merchants are incurring a major pain point dealing with consumer-disputed sales transactions that can lead to chargebacks.
This can mean merchants lose not only the sales revenue but also the merchandise and related overhead costs as well.Highlights of this research report include.
Step 5: Prepare relevant skills for being a Merchant Chargeback Manager
What skills do you need to be a Merchant Chargeback Manager?
This role is not a beginner's role, as such, there are many skills required. It is vital to the role to command: Anomaly Detection Processes, Fraud Analytics, Transaction Analysis. For this position, you need to be experienced with: Banking Software. Management isn't easy, if it were, everyone would have the competenticies to execute the role with success.
Gareth Parkin the Managing Director of GoPromotional started out using Paypal to establish a credit history for his business and after 6 months was able to attain a traditional merchant account.
And while there are ways to prevent chargebacks, even successful and efficient businesses will experience them occasionally.
Experience with remote deposit and merchant card systems.
By adding Dispute Manager to your account, you are able to receive and respond to chargebacks and retrieval requests in a much more efficient manner, eliminating the delays and costs associated with faxed and mailed paper transactions.
This kind of automated, risk-based decisioning will help them maintain a great customer experience while minimizing fraud and any resulting chargebacks.
Step 6: View average salary for Merchant Chargeback Manager
How much does a Merchant Chargeback Manager make?
The average salary range for a Merchant Chargeback Manager is from $68,549 to $111,968. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for Merchant Chargeback Manager jobs
- Merchant Chargeback Supervisor
- Merchant Chargeback Analyst
- Merchant Chargeback Analyst Sr.
- Merchant Chargeback/Fraud Analysis Manager
- Merchant Chargeback/Fraud Detection Analyst
- Merchant Chargeback/Fraud Analysis Team Leader
- Merchant Chargeback /Fraud Detection Senior Analyst
- Merchant Card Sales Manager
Step 7: Find relevant Merchant Chargeback Manager jobs, and apply.
Looking for Merchant Chargeback Manager jobs?
Here are some Merchant Chargeback Manager jobs in the United States.