Credit Card Processing Experts - Credit Card Processing : 6 Easy Ways To Reduce Chargebacks -

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Credit Card Processing : 6 Easy Ways To Reduce Chargebacks

by Trisha Echols      If your business accept payments through credit cards, chances are you will soon experience chargebacks.      When a customer disputes a charge on his credit card for any reason whatsoever, the amount is then “charge back” to the merchants, thus the term chargebacks. As merchants with credit card processing service know, chargebacks are costly. It can potentially harm your business. Getting more chargebacks than you can handle will result in stiff penalty fees and may constrain your bank to close your merchant account. Taking positive steps to deal with chargebacks will definitely boost your business. Here are some tips to reduce chargebacks: <ol><li>SELL TOP-NOTCH, QUALITY PRODUCTS Implement a thorough product screening and select only the products that meet the highest criteria. In the same token, avoid any poor or substandard product quality. </li><li>BE WARY OF SUSPICIOUS-LOOKING CUSTOMERS If a customer comes to your store, casts furtive glances around, makes large purchases in a hurry using a credit card and avoid your gaze, chances are that this particular customer is using a stolen credit card. Make further but discreet inquiries with him. If you feel he's a bogus, turn down his credit card purchases. </li><li>FOLLOW-UP ON DELIVERIES Make special arrangement with your courier to brief you on product deliveries. This way, you can track down the status of the product en route to delivery. At the same time, you know what products were delivered and to whom. In addition, instruct your couriers to have customers sign for delivery receipts. You can then keep these delivery receipts as proofs against fraudulent claims of non-delivery. </li><li> INFORM CUSTOMERS IN ADVANCE IF YOU USE THIRD PARTY CREDIT CARD PROCESSING ACCOUNT If you use a third party credit card processor, like Clickbank for example, your customers will see the name Clickbank in their credit card billing statement and not your business name. Inform your customers in advance about this so they will not be surprised to see certain charges billed to them by a company that they had never transacted business. Otherwise, they would dispute the charges and you could end up with chargebacks. </li><li>PROVIDE CUSTOMERS WITH YOUR CALLING CARDS Your calling card should contain telephone numbers or email address which customers can use to contact you in case of any problem with their purchased product. Make sure you tell them that. And see to it that customers can immediately contact you-- not your accountant, not your store clerk but you in case they have any complaint regarding their purchased product. In this way, you can promptly deal with it before customers will initiate chargebacks. </li><li>OFFER FREE AFTER-SALES SERVICE One enterprising businessman with credit card processing service in his establishment adopts this strategy: he hires two personnel to call on a regular basis those customers who bought appliances from his store and check the status of purchased items. If the appliance breaks down after expiration of warranty, this businessman dispatches repair men to make minor repairs for free. As a result, his customers are satisfied with him and usually do repeat business. His business chargeback records? Zero.</li></ol> ( Trisha Echols currently is a long-time financial consultant with established consultancy offices in Amsterdam, Halifax, Malaysia and other key cities. Her clients belong to the top 500 companies in England and in the United States. She does lectures on strategic business practices and also writes for various magazines on business matters.) <a href="http://www.onlywire.com/submit?u=http://www.creditcardprocessingexperts.com/credit_card_processing_6_easy_ways_to_reduce_chargebacks.html;t=credit%20card%20processing;tags=credit%20card%20processing" target="_blank" title="Add this Article to Onlywire"><img src="http://www.onlywire.com/i/onlywire.ico" alt="" />Add to Onlywire!</a>

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