Ways to Prevent Credit Card Chargebacks
Chargeback is what it's called when a transaction is reversed ,the word that merchants fear . In other words, rather than adding money to your account it is deducted. Chargebacks can occur for a wide variety of reasons, such as double-charging, credit card expiration, bank error and customer disputes. Many chargebacks can lead to the possibility that you will loose your merchant account. Once you've lost your merchant account you are placed on the Visa/MasterCard MATCH list for several years which all Merchant Account Providers have access to, and if they find you on the list they won't reissue a merchant account to you.
Here are some tips that can help you reduce chargebacks:
1. On your order confirmation page provide the customer with the name, phone number, e-mail address, etc., of your company so that they will recognize it when it appears on their monthly credit card statement.
2. Include this same company information in the e-mail confirmation that your customers get when an order is placed .
3. Use Address Verification. People ordering products using a stolen card number will never use the real cardholder's billing address,
4. Scrutinize orders from foreign countries. A large percentage of fraudulent Internet purchases are made from Indonesia, Russia, and other eastern block or developing countries.
5. If an order seems suspicious, call or email the customer and attempt to verify anything you can about them.
6. If you ship a product, include the customers invoice.
7. Be wary of accepting orders from people who used a free e-mail address when ordering (i.e. Hotmail, Yahoo, etc.).
8. If your business delivers products use a carrier that requires a signature on delivery, and allows you to have a copy of the signature.
9. Taking the time to post a warning message on your order page to those who may attempt to make a fraudulent order will greatly deter the number of instances of fraud.
This article is sponsored by Jack Chevalier at Paynetsystems Credit Card processing and Merchant Services provider.
Here are some tips that can help you reduce chargebacks:
1. On your order confirmation page provide the customer with the name, phone number, e-mail address, etc., of your company so that they will recognize it when it appears on their monthly credit card statement.
2. Include this same company information in the e-mail confirmation that your customers get when an order is placed .
3. Use Address Verification. People ordering products using a stolen card number will never use the real cardholder's billing address,
4. Scrutinize orders from foreign countries. A large percentage of fraudulent Internet purchases are made from Indonesia, Russia, and other eastern block or developing countries.
5. If an order seems suspicious, call or email the customer and attempt to verify anything you can about them.
6. If you ship a product, include the customers invoice.
7. Be wary of accepting orders from people who used a free e-mail address when ordering (i.e. Hotmail, Yahoo, etc.).
8. If your business delivers products use a carrier that requires a signature on delivery, and allows you to have a copy of the signature.
9. Taking the time to post a warning message on your order page to those who may attempt to make a fraudulent order will greatly deter the number of instances of fraud.
This article is sponsored by Jack Chevalier at Paynetsystems Credit Card processing and Merchant Services provider.
0 Comments:
Post a Comment
<< Home