Chargebacks happen in the world of retail. They are not good for business, and they can cause rifts in customer relationships. They should only be used when absolutely all other avenues have been explored. Unfortunately, not all customers know this. We’ve got some information for you to help reduce your chargeback rate and improve your business relationships.
A chargeback is when a customer disputes a charge with you, but instead of coming back to you to resolve the issue, they go straight through their credit card company. The credit card refunds their money and then usually charges you some sort of processing fee. This is not a great thing for business and should be avoided when possible.
There are a few ways you can avoid having chargebacks on your account. It is not good for business and makes extra work (and possibly fees) for you. Here is a list of a few things to try to keep your chargeback rate down.
Reducing your chargeback rates as much as possible will help you conduct your business without any hiccups. We all want to aim for the least amount of fraud possible, so by working together, we can try to get there. If you are looking into a payment processing system, look for one that offers security measures and ways to combat fraudulent transactions to ensure that your relationships with your customers are not damaged.
Posted in Payment Processing on Oct 18, 2016