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Follow on Google News | How Your Business Can Avoid ChargebacksChargebacks can seriously hurt businesses by costing your company money. Avoiding chargebacks enables your business to function without risking its reputation or its profits.
By: CheapestMerchantAccounts.com The Consumer Protection Act and e-Commerce Laws protect consumer’s rights in online transactions. These ensure that merchants are held accountable for delivering products as ordered in terms of price, quality, quantity, and time. According to CheapestMerchantAccounts.com, chargebacks on products are classified under two sections: customer-claimed and fraudulent transactions. Chargebacks on the customer front normally apply to claims that the product ordered was not delivered as promised; the customer was double-billed or incorrectly billed; or a promised refund was never made. Also if products are not delivered in the specified time, businesses are liable for the chargeback. Not only is the money then lost from the sale, but the credit card provider and bank charge additional fees. Protecting your business against customer-claimed chargebacks is simple and comes down to accountability. Perry advises that transactions and invoices be kept on file in the event of a dispute and that production always meets demand to help prevent customer claimed chargebacks. Fraudulent transactions are often harder to prevent but preventable none-the-less. Invest in technology that detects fraud. Sales clerks should be adequately trained in ensuring all relevant data is accurate and that all credit cards are valid and not expired. Overseas addresses have increased risks associated with them. Keep in mind that while really big orders or multiple orders from one customer are great, they are also suspicious. Check by phone and email for confirmation that you are dealing with a trustworthy client whose information all stacks up. The last step may be the hardest. Employees are the people you trust to help your business grow. Yet if one employee is engaged in fraudulent acts of credit card theft, the business owner is held accountable as their superior. Chargebacks can seriously hurt businesses in economic terms and in terms of their standing with customers. Preventing chargebacks rather than paying for them is the favorable option when running a business. Media Contact Info Gerald Evans CheapestMerchantAccounts.com 18572441614 http://cheapestmerchantaccounts.com/ gevans@cheapestmerchantaccounts.com SOURCE CheapestMerchantAccounts.com End
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