Chargebacks are an ever present thorn in the side of business owners, however; chargebacks are a necessary option for cardholders who can sometimes feel powerless in the face of fraud or an unresponsive business. Premier Merchant Services outlines some helpful points to assist merchants in reducing the possibility of chargebacks which will ultimately create happier customers and more profitable businesses:
Prior to checkout/Sale
Disclose all terms and conditions at checkout including returns, warranty, additional fees etc…
- – Require customer to initial or check off their acknowledgement of these terms before purchase
- – Request both a billing and shipping address
- – Request CVV2/CVC2 security code on the card (usually the 3-digit code on back or 4-digit code on the front).
- – Authorize each transaction on the date of the order
- – If transaction is declined, request alternate form of payment. Do not force the sale or split transaction into smaller amounts
- – Utilize AVS (address verification) and CVV information
- – Notify customer and gain a new authorization if ship date is beyond 30 days
- – Email sale confirmation with shipping and billing info along with delivery date and return policy
- – Notify customer of order status and any delays
- – Do not ship internationally unless you have a good history of doing this
- – Ship to the address used for AVS and require signature on delivery
- – Capture transaction ASAP once purchase is eligible to settle
- – Do not settle a transaction until product ships
- – Certify that your best customer service number shows on the cardholder’s bank statement
- – Double check that the merchant name is the same on the receipt as well as the cardholder’s statement
- – Process credits ASAP when they are due. Alert cardholder as soon as a credit is issued
- – Promptly respond to cardholder inquiries. Stop recurring billing upon request
- – Respond to your disputes when notified by the processor; both retrieval requests and chargebacks
- – Provide all documentation in support of the transaction. Include case number on each sheet of paper. Authorization, AVS, CVV response, signed shipping receipt, etc.
Premier Merchant Services provides electronic payment solutions for all business types, whether they’re in a low, medium or high-risk industry. Services include Credit Card transactions, Debit Card transactions, ACH Debit, Electronic Check Service, Gift Cards, Loyalty Cards, System Upgrades, Online Processing, Mobile Processing, ATM Machines, Cash Advance Programs and Data Protection Programs. Our payment processing and business development solutions are designed to create convenience for our merchants and their customers! Call 888-316-3894 or email email@example.com for a Free Rate Comparison analysis and EPON vendor pricing.