hostmerchantservices's blog
A chargeback is a dispute a customer raises regarding the validity of a particular charge to the customer’s credit card. If a chargeback arises, the issuing bank does not release funds to a merchant until the bank has decided on the veracity of the transaction. A lot depends on how the bank rules based on its due diligence. If the bank rules in favor of the merchant (smb merchant services), funds are released to them. Otherwise, where the bank rules that the customer is correct, the charge on the customer’s credit card is reversed. The whole process of a chargeback arising, being disputed, and decided on is a lengthy one and burdensome requiring a significant amount of documented proof and recordkeeping.
How can chargebacks happen for SAAS companies?
For a Software as a Service company, chargebacks can happen in several ways. Maybe the software the clients thought they were purchasing didn’t pan to be everything they were promised. It’s important to evaluate the sales pipeline and closing process to gauge what kind of promises are made to customers that are too aggressive.
Another issue can be disenfranchisement with the software business are selling. Customer Support tickets may reveal that numerous customers may be complaining about the same issue repeatedly that isn’t being resolved. Since many SAAS are sold with recurring payments automatically charged to clients’ credit or debit cards, the customer may block the processing of such payment, a classic example of a chargeback.
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Stablecoins don’t provide an opportunity to become rich quickly. Therefore, they don’t get as much hype as other cryptocurrencies. Although there are a number of stablecoins in the crypto market, Tether (USDT), USD Coin (USDC), and TerraUSD (UST) are the most common stablecoins people use for different purposes.
Tether (USDT) has a circulating supply of 72 billion units. And it’s the most popular stablecoin used for trading cryptocurrencies. USD Coin (USDC) has a circulating supply of 37 billion coins and it’s best known for its low trading fee. TerraUSD (UST) only has a circulating supply of 3 billion coins because it was launched just a year ago in September 2020. So, it will take some time to establish its reputation.
There’s a misconception among crypto (polygon matic crypto) investors that Tether is backed by the U.S government. But the senior investors understand that it’s not the truth. Tether was actually launched by Tether Holdings Ltd in 2014. This organization is responsible for maintaining the physical assets depending on the number of digital coins issued.
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