How to handle the chargeback claim if the sales receipt is lost

Today, we are living in a world where people prefer to carry card over cash to pay. This use of cards for paying is also among one of the safest ways for buyers. That gives them the authority to question the authenticity of the product or transaction. Also, to ask for money back if they don’t like the merchandise.

But, a thing that doesn’t change with this new method of collecting the payment through cards is the billing/invoice process. A business has to give the sales receipt of the sold product and for the merchant’s safety. They need to keep a copy of the receipt and one addition in this process is creating a copy for the bank to get a refund against the processed transaction from the card.

How to Deal with Chargeback in Absence of Sales Receipt

In businesses, the receipts are the only physical document that can prove that transaction is valid to get funded. As discussed above it’s the merchant’s responsibility to provide the appropriate and correct copy of the receipt to the bank. If the details on the receipts misprints due to paper quality, color, fading of ink becomes invisible. That can be or the receipt tear apart. This causes the loss of correct data. In this case, the card holder’s bank with their right to question the transaction can ask the merchant to again submit the transaction details.

To submit the exact and appropriate details to prove the validity a merchant has a few remedies that can be practiced:

1. If the merchant has the transaction proofs in details that prove the validity of the transaction, they should send it to the bank within time.
2. If the merchant has the copy of transaction that to is not able to give the detailed information then the merchant should accept the chargeback and pay for it.

To prevent this error to happen regularly, a merchant can take few precautionary measures:

1. A merchant should have sufficient copies of the sales receipts that can save the time whenever a merchant gets the retrieval request.
2. Always keep the printer carbon ribbon filled and use less carbon so that the prints should not destroy the text written.
3. Always give print on white paper to the customer and keep the colored paper as the file.
4. Company’s logo should be available on all the receipt prints, this proves the authenticity.
5. In card present situation of the transaction, a copy of sign sales receipt should be in place as the proof. This helps to prove that the transaction was in pace with card holder’s will.