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How To Protect Your Business Against 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. Yes, this is a huge advantage for customers, however, the same thing cannot be said for 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 from banks will accumulate and the merchant has no choice but to pay for each one. 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 without a doubt, an alarming problem for merchants because the bank won’t allow them to open 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. Even though it is a fact that there are some customers out there that are taking advantage of chargebacks just to gain goods for free, this doesn’t mean that merchants cannot protect their business against these unfair chargebacks.

In this article, allow me to share with you some tips that you may use as your guide when protecting 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. Remember that excellent customer service should be the foundation of your business. Provide your customers with a lot of options to get in touch with you, including a landline number or a cheap 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. Be clear when it comes to the items your customers are buying.

According to the chargeback company, if you want to reduce the number of chargebacks you receive, see to it that you provide your customers with a good product description. If you make sure that all of your products have a detailed description, you will definitely avoid any misunderstandings.

3. Be on the look out for fraud.

According to the chargeback company, you can easily avoid chargebacks by simply, being vigilant to fraudulent activities. Invest on the training of your employees to make sure they are capable of spotting any fraudulent transactions.

4. You should implement a secure payment system.

It is a fact that online fraudsters are usually one step ahead of the merchants, because of this, we must do something to keep up with them. 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.

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