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Why Resources Aren’t As Bad As You Think

Protect Your Business And Do Something About Unfair Chargebacks

Consumer law exists so that the customers are protected whenever they decide to utilize their credit cards. Just in case someone steals their credit card information and the merchant refuses to give them a refund, they would simply contact their credit card company to have their money refunded. Although this benefits the customers, the same thing cannot be said for the merchants.

Chragebacks are perfectly legal and every customer has the right to request for one but too much chargebacks against a merchant is bad news for his entire 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, we will be discussing some tips that will help you protect your business against unfair chargebacks.

1. Your business must have an excellent customer service.

According to the chargeback company, if the merchant offers superlative customer service, he can easily reduce the number of chargebacks against him. Keep in mind that the foundation of your business is excellent customer service. You have to invest on low-cost communication options for your customers such as a landline number or a web chat. It will also benefit your business a lot to train your customer service team so that they can easily handle difficult customers.

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. When it comes to fraud, you have to be very vigilant.

According to the chargeback company, most chargebacks are caused by fraudulent activities. Teach your employees how to easily detect fraud before they process any purchase.

4. You need a secure payment system.

Since online fraudsters are always one step ahead of the merchants, you need to be keep up with them. According to the chargeback company, we can do this by simply implementing a secure payment system. See to it that your network systems are secured so that your customers are also protected.

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