Win Chargebacks and Lower Refunds in your Business

Chargebacks are the bane of online merchants globally. Only few things are as disappointing and agonizing as receiving notice of a chargeback. To make the situation worse a lot of merchants’ state that they can do nothing about it. They consider it final and don’t even respond to the notice. However, there are some steps you can take to win chargeback against your consumer.

  1. Dispute it with your bank instantly when you receive the receipt.
  2. If point 1 fails and your bank upholds it, go to the customer directly for the chargeback amount along with all the other expenses incurred by you such as bank fee.

Sometimes a lot of products that come with money-back guarantee are claimed for a refund. Though you cannot just check every credit card transaction, you can definitely win and recover your money. The steps include:

  1. Use AVS on your merchant account and reject orders that don’t have a valid billing address.
  2. Use CVV codes from customers and reject orders of those who provide invalid code.
  3. You can go for American Express. A lot of merchants don’t go for this because of its high processing fee but they have a fairer chargeback procedure. They consider the merchant’s side too.
  4. Use a trackable shipping company and get a delivery signature if possible.

In case, you are selling electronic items, make sure you have proof of delivery or you will end up with high refunds and have no chance of preventing chargebacks as there will be no evidence available with you. Check out the best chargeback sites online and learn about the topics more in detail.

People usually don’t choose the trouble of returning an item till they really want their money back or are looking for some scam. While you may not be able to discover between legit and fake customers, hence it is important to be cautious with every transaction you make.

Lastly, you need to have a clear and precise return policy mentioned on your website. If there is any time limit on the return policy, just mention it. If you charge a processing fee, then also state it. If there are conditions about returning new and undamaged products, say it.