Free Ebook • The retailer’s guide to managing and preventing chargebacks
The retailer’s guide to managing and preventing chargebacks
Chargebacks can be a major source of financial loss for businesses of all sizes. While it’s easy to dismiss them as just “the cost of doing business,” the reality is that many chargebacks are preventable. With the right tools and strategies, you can significantly reduce your chargeback rate.
This ebook includes:
Why should you care about chargebacks?
Financial losses: Chargebacks result in direct financial losses, as you are forced to refund the purchase amount despite, in many cases, delivering the customer a product or service.
Loss of customer trust: Allowing an avoidable chargeback to progress to the chargeback stage when it could have been prevented or resolved directly can leave customers feeling unsatisfied and distrusting of your business.
Administrative burden: High chargeback rates increase the amount of time and effort your financial team spends on dispute resolution when they could be focused on generating revenue for the business.
What you need to know
FAQs
Common reasons include unauthorised transactions, friendly fraud (where customers request a chargeback on a legitimate purchase), unsatisfactory products or services, and processing errors.
Businesses can prevent chargebacks by choosing a secure payment processor, being clear and transparent about products and services, simplifying the checkout process, and being responsive to customer concerns.
Merchants should respond promptly, compile and present evidence to dispute the chargeback, and follow the protocols provided by the customer's bank. Keeping detailed records of sales and customer communications can aid in this process.
Managing chargebacks effectively is crucial because they result in financial losses, reduce customer trust, increase administrative burden, and incur additional fees and penalties. Proactively managing and preventing chargebacks can protect a business's revenue and reputation.
Discover more in our free ebook.
Free EBOOK
Discover how to preven chargebacks today
Gain valuable insights by downloading our exclusive Ebook. Discover how to prevent chargebacks. Fill out the form to access your complimentary copy instantly!
Don't miss out on this opportunity to take your business to new heights with a payments partner that cares.
- Learn strategies to shift from a reactive to a preventative approach to reduce chargebacks
- Understand the importance of choosing a secure payment processor
- Get tips on monitoring transactions, appealing chargebacks, and maintaining clear communication
Fill out the form to access your exclusive ebook instantly!
Stay in English