Posts Tagged ‘internet merchant account’
Preventing Credit Card Chargebacks
They say the customer is always right, and that’s a good philosophy for running a successful business, but when you find that too many customers are reversing the charges on their credit card (chargebacks), you have to do your part to reduce them. Luckily, there are many things you can do. For each chargeback, you pay a fee, plus if you get too many, your processing account could be closed. There are several reasons transactions can be disputed and returned but most chargebacks occur as a result of fraud. If you can reduce fraudulent transactions, you’ll have fewer chargebacks.
When the card is presented to you, check the expiration date and signature panel. If there’s no signature, check the customer’s ID and ask the customer to sign the card. If the customer refuses, don’t accept the card. Always get an authorization of every transaction by swiping the card through your terminal. If the card won’t swipe, follow manual key procedures and get a card imprint. Be sure to match the name on the account number of the card to the information on the receipt and match the printed four-digit number to the embossed number on the card. And of course, always get a signature. Finally, look for the hologram. It will be on the front or back of the card and should reflect light and appear to move.
When the card is not present, always obtain an authorization. Ask the customer for the expiration date and include it in your authorization request along with the three-digit security code. According to Visa®, verifying the card code can reduce chargebacks significantly. It’s also a good idea to use the Address Verification System (AVS) that is a nationwide system that verifies the identity of the person claiming to own the card. It makes sure the address entered on the order form matches the cardholder’s billing address. By the way, not using the AVS will result in higher processing fees. Scrutinize orders from foreign countries extra carefully as AVS is not global.
If an order doesn’t seem quite right, call or e-mail the customer to verify that he or she placed it. If your business delivers products, use a carrier that requires a signature upon delivery. Be cautious when accepting orders from customers who use free e-mail addresses like Yahoo or Hotmail. Tracking them is almost impossible.
Finally, make sure you respond quickly to every customer service request. If customers think they are being ignored, they will call their credit card company, which will result in a chargeback.
For more information on chargeback prevention, please call us at : (800) 616-1899.
Why Accept Credit Cards?
Allowing customers to pay with plastic isn’t an option for today’s merchants — it’s a requirement. If you don’t accept credit cards, your customers will go some place that does, plus, credit card users often spend more money when using a credit card compared to cash or checks.
First Data Independent Sales (FDIS) offers some of the most flexible credit acceptance options in the industry, enabling merchants across the nation to accept nearly every payment option including: MasterCard®, Visa®, American Express®, Discover® Network, PIN-secured and signature debit, gift cards, checks, wireless and eCommerce processing solutions. When you are making a decision about accepting credit and debit cards, consider the benefits electronic payment processing can deliver to your business and to your customers:
• Higher revenues – credit card customers spend more, on average, than cash customers
• Larger average ticket – customers who pay by card generally buy more than those who pay by cash or check
• Customer satisfaction – customers want the option of their preferred method of payment
• Faster checkout – electronic payments are quicker and more accurate, with less room for error
• Prompt payment to you – no waiting for deposits to clear
• Online payments – eCommerce could be a real competitive advantage to you
FDIS is a market leader in delivering tailored payment processing options that can help increase your sales, improve your bottom line and boost customer loyalty. But that’s not all. Our services also include the systems,
technology, processing services, customer support, clearing and settlement functions you need to succeed, all at a very competitive rate.
FDIS delivers exceptional efficiency, value and results to merchants of all sizes. This unequaled level of experience and expertise, coupled with the most powerful and flexible processing system, creates end-to-end card payment acceptance solutions for every stage of your customer lifecycle. And of course, we offer premiere customer service by phone 24/7.
For more information on accepting credit cards and how they can increase your profits, call your FDIS sales representative at (800) 616.1899

