How are chargebacks handled on My Meta Fans?

Chargebacks, Explained:

A chargeback occurs when a customer successfully disputes a transaction on their payment card statement or report, resulting in the funds being returned to them.

How Customers Chargeback:

Customers can initiate chargebacks for various reasons, commonly due to fraud (unauthorized transactions) or disputes (unsatisfactory goods/services). They typically contact their bank to dispute the transaction, prompting the bank to request a reversal from the merchant's bank. Chargebacks can be initiated within 120 days of the initial transaction, although most occur within the first 30 days.

Friendly-Fraud:

Friendly-fraud, despite its name, involves customers making seemingly genuine claims that are actually deceptive. It's akin to theft in a physical store setting but disguised as honest disputes.

Impact on You:

In the event of an unsuccessful defense against a chargeback, 85% of your earnings may be deducted from your balance to cover part of the transaction cost.

Impact on My Meta Fans:

My Meta Fans covers the remaining 15% of the chargeback amount. Additionally, for each chargeback, My Meta Fans incurs a fee from the bank, ranging from $25 to $50, regardless of the transaction amount.

Preventing Chargebacks:

My Meta Fans employs both preventative measures and reactive management to address chargebacks. These include email verification, background checks, and transaction monitoring to identify risky behavior. In the event of a chargeback, My Meta Fans contests the dispute using gathered data and blocks the user's access if necessary.

Prevention Tips for Creators:

To minimize chargebacks and fraud, creators can:

• Be cautious of fans who make large purchases impulsively.
• Be wary of fans seeking excessive content shortly after subscribing, as it may indicate fraudulent intent.
• Implement delay tactics, such as limiting content access within the first 7 days of subscription, to deter scammers looking for quick access.

By staying vigilant and implementing these strategies, creators can reduce the risk of chargebacks and protect their earnings on My Meta Fans.