With the current situation of the world today whereby people can transact business online, without moving the location they are located. Through online payment one is able to buy and sell at convenient by making payment using his or her credit card, which is offered by banks. This service of payment tends to be reliable but it has drawbacks, whereby the seller gets more funds than expected from the credit card leading to a chargeback management service being considered as the solution to this fault. In some cases sellers of banks may sell a product more than the initial prices of the product, when such as situation is detect the seller is forced to refund the excess money to the credit card. When the merchant refunds the funds he promotes trustworthy business relationship with the buyer of the seller. The buyer is encouraged to buy more from the merchant, leading to more sales by the merchant. Through this system of payment online is prone to fraud, since this system lacks enough security to prevent one from getting funds from your credit card. Once the card holder notices a transaction on his card that he or she did not authorize, one can initiate a complaint to the issuing bank. Once the bank receives the complaint from the client and confirms to be true, a refund of the funds to the credit card can be done. Some instances where the merchant deliver the product which is sub-standard to the consumer and the consumer files a complaint. The product is returned back to the merchant and the consumer is refunded. The bank of the card holder initiates the transaction between the consumer and merchant and the funds are regained by the card holder. A consumer may pay for a product online and expect to be delivered in a given but the seller fail to honor the mutual agreement by not delivering the product. In such a situation the cardholder can seek a refund. The bank of the holder is able to initiate a chargeback management between the seller and the buyer. This system of getting back the funds is able to benefit the both buyer and seller. Chargeback Guardian is a chargeback management a proprietary software system that keeps CNP credit card processing accounts in good standing with Visa, MasterCard by preventing credit card Chargebacks, protecting against malicious and friendly credit card fraud and helping Merchants become and stay compliant. (www.chargebackguardian.com/)
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