Internet Merchant Account – Preventing Chargebacks (part 3 of 3)
Use your business name, website address and/or 1-800 number as your identifier. Your identifier is the information that shows up next to the actual charge amount on your customers credit card bill or online account. Many people dispute credit card charges just because they don’t recognize a charge on their credit card bill and don’t take the time to investigate it. Make it easy for them to remember you by keeping your identifier up to date. This can be easily done just by contacting your current credit card processing company.
On larger (CNP) card not present transactions (over $100) obtain an authorization via e-mail or fax. E-mail or fax your customers a credit card authorization form that requires them to provide the name on the card, card number, billing address, expiration date, CVV2 code, and cardholder signature. To create a sense of urgency require them to send it back before you’ll ship their order. This is a great way to confirm their order and capture an authorization at the same time.
Take care of your customers – A big reason most people use their credit cards for online and phone purchases is because they know the credit card issuer will protect them. If they buy something and they don’t receive what they ordered or expected and the merchant won’t correct the problem they will get their money back if they successfully dispute the charge. Bottom line -do the right thing and deliver as advertised because if you don’t you could not only lose the product you shipped but the money collected as well. During the dispute process the burden of proof is on you…the merchant.
Communication is the key – As long as you communicate with your customers you should be able to keep internet merchant account chargebacks at a minimum or not have them at all.
Need immediate assistance? Complete this form or call us today at 888-383-8056.
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Most merchants are unaware that interchange rates are adjusted as much as 2x per year. Over the course of several years, those adjustments can hike up a merchant’s rate and cost the merchant thousands in processing fees. Contact us via the form above, or call us today at 888-383-8056. Chances are, we can save you up to 25% over your existing rates and fees!
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