We launched Chargeback Protection ( https://stripe.com/radar/chargeback-protection … ) earlier today. I'm super excited about this because I would probably have been a user back when I was running my SaaS business. Story time:
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So I spent some time investigating and it turned out a customer, who I thought was a long-established and happy customer, had filed chargebacks against us. For all of their usage. For six months.
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This is not a happy CS case to work over vacation, but I got in touch with them, and their CEO was mystified. So he called their external bookkeeper, and we found that a *relatively common* mistake had happened.
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The external bookkeeper didn't recognize our business name on the credit card statement, felt that that suggested we were defrauding the business, and immediately filed the chargebacks. We rectified this understanding over a three way call.
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I then got the CEO to give me an acknowledgement in writing that they were happy customers, asked the bookkeeper to call their bank and drop the chargeback, and got together a multi-page letter to the bank explaining the situation.
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Savvy founders already know the punchline: "You lost the disputes, didn't you?" Yep, of course with that setup I lost the disputes.
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Among the most fun mails you get when running a small Internet business is the "You've got money!" email and the absolute least fun is a chargeback out of the blue.
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And it would be bad enough if it were just losing the sale and the chargeback fee, but you get to go through multiple stages of will they / won't they before losing the chargeback, tying up founder cycles utterly pointlessly.
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Thus Chargeback Protection. Pay Stripe 40 basis points. Never think about this again. The end.
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End of conversation
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