Some Background Guidance On Protecting Your Business From Chargebacks

1
Some Background Guidance On Protecting Your
Business From Chargebacks

• Chargeback Expertz

2
Overview

• The most critical thing merchant has to be afraid
  of while selling products and services are
  chargebacks. If you get the chargebacks, it may
  lead to decrease in revenues and may also hamper
  the credibility of the business. To operate
  profitably in the ecommerce industry, you should
  have proper chargeback defense policies and fraud
  management policies. You should always ensure
  that chargeback to sales as well as fraud to
  sales ratio is always below 2.
• In the layman language, chargebacks are disputed
  transactions. Chargebacks were created by the law
  to protect customers from the unauthorized
  transactions. The consumers try to have a word
  with the merchant once or twice but if their
  issues are not solved they simply raise their
  concerns with their issuing bank.However, some
  customers use the chargebacks thoughtlessly and
  that can cause losses to your business in online
  ecommerce industry. There are few tips which can
  reduce the chargebacks of your business.

3
Easy Tactics
Descriptor and/or DBA Name

• DBA name i.e. Doing Business As. It is the name
  that appears on the bank statements of the
  customer. Mostly customers raise chargebacks when
  they do not recognize the name appearing on the
  payment slips or bank statements. You should make
  sure if DBA name is different from your business
  name and you should also make that thing
  understood to the customer. It is up to you to
  ensure the card charges are understood by the
  customers.

4
Contact Details

• You should provide proper contact details to your
  customers, if customers have any queries and if
  those queries are not solved they willsurely go
  to the banks and file dispute against your
  business. Customer service information of the
  business (Phone number email address) should be
  mentioned on website clearly for the customers.
  You can also add your customer service phone
  number on your Descriptor and/or DBA name
  that willshow on customers bank statement.
  Customers can contact you immediately if theyve
  noticed unrecognized transaction on their
  statement.

5
Fraud Management

• You should have proper fraud management team. The
  team should monitor all the transactions that
  take place on your website and as soon as you
  come to know about any fraud transaction, check
  the authenticity of the transaction. If it is
  complete fraud transaction then refund it
  immediately. The payment gateway providers and
  banks also monitor transactions and forward the
  same. It is up to you to make sure the
  transaction has not taken place through stolen
  card. If youve noticed any fraud transaction
  taking place on your website, the fraud
  management team either contacts the customer to
  verify the sale or refund the transaction to
  avoid any further issues.

6
Products and services up to the mark

• Many times chargebacks are not raised because of
  fraud transactions but because the quality of the
  products and services are not up to the mark or
  substandard or below customers expectations. On
  your website clearly explain the product with
  images and proper details. You should also
  have refund policy. In case if the customers ask
  for the refund after the time mentioned in the
  policies you can clearly show your refund policies
  to them.

7
Accurate records and customer service

• You should maintain proper call records, email
  conversations or any other conversations you had
  with customer somewhere. Maintain a proper track
  record of everything. Keep proper proof of
  delivery with you. You should also have a
  customer service team which should take feedback
  calls from the customers and in case of any
  issues they can be solved on priority basis.

8

• Chargebacks can lead to high losses especially
  when your business is high risk business. To make
  sure you do not get caught in a trap of online
  fraudsters, take proper actions in the beginning.
  It is tough for the merchant to win the
  chargeback case itself however we as chargeback
  Expertz have proper chargeback defense,
  chargeback management and fraud management tools.
  We try our best that the chargeback is properly
  responded. Contact us today!

9
Thank You

• US HQ       10300 49th Street N Suite
  427 Clearwater, Florida 33762
• UK HQ       45 Rosehaugh Road
  InvernessInverness-Shire IV3 8SW
•            1 855-465-4723
•       app_at_chargebackexpertz.com