How I Achieved Maximum Success with Services

Protect Your Business And Do Something About Unfair Chargebacks

The law that protects customers whenever they purchase items using their credit cards is known as consumer law. If a fraudster steals their credit card information and the merchant refuses to refund their money, the owner can call his credit card company in order for him to get his money back. Even though this is good news for the customers, the same thing cannot be said for the merchants.

Chargebacks are perfectly legal and the customer has every right to request for one, however, too much chargebacks against a merchant can be the downfall of his business. This is because fees and fines from banks will pile up and a lot of merchants will lose money. In addition to this, the bank can even close the merchant’s account which will eventually shut down his business. This is a huge problem for merchants because they won’t be allowed to apply for another account for the next five years.

According to the chargeback company, merchants can prevent this from happening by simply controlling the number of chargebacks they receive. Yes, it is true that there will always be some customers who would take advantage of chargebacks to gain goods for free, however, merchants can still do something to defend their business against unfair chargebacks.

In this article, we will be discussing some tips that will help you protect your business against unfair chargebacks.

1. Provide them with excellent customer service.

According to the chargeback company, merchants can easily prevent chargebacks by simply offering superlative customer service. Don’t forget that the foundation of your business is none other than excellent customer service. You have to consider having low-cost communication options for your customers like a landline number or even a web chat. It will also benefit your business a lot to train your customer service team so that they can easily handle difficult customers.

2. See to it that your description for your items are clear.

According to the chargeback company, one effective way to reduce the number of chargebacks we receive is to make sure we provide our customers with a good product description. If you have a detailed description for every product that you are selling, there won’t be room for any misunderstandings.

3. Be on the look out for fraud.

According to the chargeback company, most chargebacks are caused by fraudulent activities. Teach your employees how to easily detect fraud before they process any purchase.

4. Your business needs a secure payment system.

Because online fraudsters are always one step ahead of you, you need to level up your game. According to the chargeback company, merchants will avoid chargebacks if they decide to implement a secure payment system. Make sure that your network systems are secured and that you protect your valued cardholders.