Simple guidelines for online merchants to reduce the risk of chargebacks
In recent years, the growth of online stores seems unbeatable. Moreover, we can see that the increasing number of online businesses has brought the era of online payments.
However, every card-not-present transaction has opened the door for chargeback frauds, duplicate billing, undesirable impulse purchase, refund scams, and many other risks.
Chargebacks made by customers have become a matter of concern due to the never-ending growth of online stores.
Being an online merchant, you should know that chargebacks and accepting payments move together. Our secure payment gateway provider in India, handle chargebacks by our automated chargeback handling instruments in a formal API.
Chargeback process starts when customers feel that they have been unnecessarily charged.
Also, the chargeback process can be a puzzling thing.
If not taken proper care of, chargebacks can derail the business of an online store.
A chargeback is a method of safeguarding the customer in case of the fraudulent transaction during an online purchase. Also, the customer will get the refund for the disputed amount.
To mitigate the risk of customer chargebacks, Given below are some essential guidelines to be followed by merchants.
Exceptional customer support
You need to follow the chargeback process to win consumers trust. Ensure your customers that you will resolve their problems, and there is no need to visit banks for the disputed amount.
Additionally, by every possible way, prepare yourself to satisfy the customers with your solutions.
Assist your customers with different forms of support like phone, chat support, and e-mail. Bhartipay provides exceptional customer support with its reliable payment gateway service provider in India.
Also, merchants need to make sure that the support staff are dedicated and are at your beck and call.
Never compromise with the protocols
Some set of protocols are there to deal with card-not-present transactions. Our payment gateway in India will help you in following the protocols. Maintain a record of customer’s IP address for the further verification process.
Moreover, you can easily win the battle against fraudulent transactions by following the right protocols.
Use an identifiable payment descriptor having clarity
After making a purchase, customers see your business name (also used as the payment descriptor) mentioned on their credit card statements. Your payment descriptor should be easily recognizable to your customers.
Furthermore, your payment descriptor should be the same as the store name. Also, don’t forget to mention a working phone number in the description. At least customers will get an opportunity to interact with you before moving to any bank.
Send prompt emails
Send prompt confirmation emails to the customers after knowing that they have purchased the products and services.
Furthermore, you should know that the confirmation emails include transaction details, complete purchase details, and dates of delivery of the products and services.
These emails are delivered to the customers after the purchase takes place.
Additionally, in the case of freemium products, emails need to be sent in the beginning and also before the billing cycle. Customers should not get the feeling that someone has befooled them.
Maintain adequate records and backups of all the data
Store all the relevant data you gather at the time of online order. If you ever faced a chargeback, then it is going to help you in making your case that it was a valid transaction and carried out without any problem.
Choose a payment gateway that offers friendly payment gateway in India for merchants.
Get rid of delayed delivery
Timely delivery is the best way through which we can prevent the possibilities of the chargeback process. Delay delivery is something which tends to check the patience level of customers.
Moreover, it can be damn frustrating sometimes. Don’t force your customers to initiate a chargeback process.
Also, delivery tracking should be the most important offering to the customer as it allows the customers to know about the shipment status and thereby, reducing the chances of the chargeback process.
Adequate return policy
Give your customers faith that they will get the refunded amount and can return their products. It is not expected of them to dispute a charge.
Now, businesses can easily save the extra chargeback fees thrust upon them by the banks.
Clear cut description of products and services
Make sure that the customers will get a clear description of the products and services. Including the photos on the website can be a charm as it will make the customers familiar with the products.
If you want to increase the sale of service, you need to provide all the details at one single stop where customers can visit and get the information.
Also, due to the product/service mismatch, Don’t let your customers go for a chargeback process. Moreover, it can be time-taking sometimes.
Must to have a competent fraud prevention tool
You have to accept the fact that the reason behind customer chargeback process can be the fraudulent activities of the credit card.
To tackle this credit card fraud, merchants need to keep a regular check on suspicious fraudulent activities.
In other words, Proactive planning will help you in combating the chargeback fraud. Record all the transaction details in the right way. Our online payment gateway in India assists with competent fraud prevention tools.
Payment gateway services in India are unrivaled in sorting out the chargebacks/disputes. The chargeback process is somewhat similar to legal proceedings. Proper documentation of transaction details can ensure a smooth process.
To learn in details about our company, you must read what we provide you which other payment gateway companies don’t.
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