Protect Your Business And Do Something About Unfair Chargebacks
Consumer law is created in order to protect customers whenever they are using their credit cards. In the event that someone steals their credit card details and the merchant refuses to give them a refund, they can get in touch with their credit card company in order to receive the refund they deserve. Although this benefits 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 the fees and fines the bank charges the merchant for chargebacks can easily pile up. This is the least of their problems because the bank can even terminate the merchant’s account which will leave his business disabled. This is a major problem for merchants considering the fact that they cannot 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. Make sure your business provides excellent customer service.
According to the chargeback company, if the merchant would like to prevent any chargebacks against him, he should see to it that his business offers superlative customer service. Keep in mind that the foundation of your business is excellent customer service. You have to consider having low-cost communication options for your customers like a landline number or even a web chat. Investing on the training of your your customer service team so that they can easily handle difficult customers will also play to your advantage.
2. Make sure that your description for your items are clear.
According to the chargeback company, by simply providing our customers with a good product description, we can cut down the number of chargebacks we receive. If you make sure that all of your products have a detailed description, you will definitely avoid any misunderstandings.
3. You have to be vigilant when it comes to fraud.
According to the chargeback company, you can easily avoid chargebacks by simply, being vigilant to fraudulent activities. Teach your employees how to easily detect fraud before they process any purchase.
4. You need 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, we can do this by simply implementing a secure payment system. As the merchant, it is your responsibility to secure your network systems in order to protect your cardholders.