Articles

How to Avoid Chargebacks

Chargebacks can cause a great deal of trouble for a business, especially when merchant accounts initiate fees for them. Credit card processing has a wealth of benefits, but it also has complications such as consumer chargebacks. Consumers initiate chargebacks for a wide variety of reasons including fraud, attempted theft, honest mistakes and discontent. Every business […]

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Building Your Small Business

Accepting credit cards is a necessity for small businesses because it allows them to remain competitive, offer convenient payment methods to buyers and not forego a sale in the event customers come up short of cash. Understanding the world of credit card processing can seem daunting at first, but these 3 key principles help address […]

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Reading Reviews Before Selecting Your Merchant Account Provider

When looking to select a company to use as a credit card processor, it’s wise to choose one that offers all the right services at a good price. However, one should take it further, and here are three things to look at when reading reviews for a merchant services provider. Speed: Without a doubt, if […]

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All About Flagship Merchant Services

Flagship Merchant Services has been helping merchants conduct transactions online for many years. As a leader in credit card processing and merchant accounts services, Flagship Merchant Services has remained focused on giving business owners of all size the solutions they need to effectively do business completely online. How does credit card processing work? There are […]

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All About CreditCardProcessing.com

Without a doubt, when looking to get credit cards processed, one should go with a solid, reliable and trustworthy company. When doing so, it’s easy to avoid mistakes that others suffer from. While true, one should know where to look, and CreditCardProcessing.com is a great place to go, and here are three reasons why. Provide […]

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What is the Bankruptcy Notification Service?

Without a service, it’s hard for people to know when someone went bankrupt, and this is often a problem when dealing with merchant accounts or other financial services. For this reason, the two major worldwide credit card companies, Visa and MasterCard, have developed a service to help people track bankruptcies. With this, people can see […]

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Chargebacks can cause a great deal of trouble for a business, especially when merchant accounts initiate fees for them. Credit card processing has a wealth of benefits, but it also has complications such as consumer chargebacks. Consumers initiate chargebacks for a wide variety of reasons including fraud, attempted theft, honest mistakes and discontent. Every business deals with chargebacks on some level, but a whole lot of chargebacks can be the death of a company. The following are some tips on how to avoid a whole lot of chargebacks in business:

Always Represent the Products Accurately

One of the biggest reasons for consumer chargebacks is product misrepresentation and false advertising. Credit card processing allows consumers to obtain products quickly. Many consumers are excited about such products. A person who receives a product that does not match its description will process a chargeback. This person may call the credit card company and reverse the charge. The result will reflect the business owner’s merchant account negatively, and it will cost extra money. Additionally, the merchant may lose the product. For these reasons, it is best for online merchants to describe their products precisely at all times.

Create and Maintain a Fair Refund Policy

Every business should have a fair refund policy for its customers. Printing a copy of it and placing it on the counters is a smart practice. Online merchants should have their refund policy stated on their websites. Posting the refund policy will cut down on chargebacks because the merchant will have proof that that the customers knew the policy. Another way that a business owner can avoid many chargebacks is by resolving complaints immediately. A reliable business owner will apologize for the consumer’s displeasure and try to compromise on a resolution.

Use Secure Checkout Practices

The best way to avoid chargebacks that originate from fraud is to ask every credit card customer for identification. The name on the identification should match the name on the credit card. The credit card should be signed on the back, and the person’s identification should be current. Additionally, the cashier should obtain a signature from the customer that proves his or her authorization of the transaction. Online businesses should use encrypted sites and software that requests credit card expiration dates and security codes to ensure that the customers have physical possession of their cards.

Remaining honest and forthcoming is the best way to avoid many chargebacks. Businesses should strive to provide high-quality products, as well.