What are a few things I can do to reduce my risk of chargebacks?
Ten ways to reduce chargebacks:
- If your business is in Indiana and you get a large phone order from someone in California that you don't know, it is most likely fraud.
- Swipe magnetic stripe cards, insert EMV cards, get signatures and authorizations.
- Respond quickly to requests for transaction copies (Retrieval Requests)
- Issue credit / refunds quickly.
- Avoid duplicate transactions
- Cancel recurring transactions when asked.
- Get signed proof of delivery when shipping goods to your customer's billing address.
- Don’t continue with an authorization after the card has been declined.
- Resolve disputes with the customer early. Make sure the customer has a clear understanding of your return policy.
- Make sure the embossed numbers on the card match the printed receipt.