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November 12, 2014

7 Tips for Preventing Chargebacks

Credit card chargebacks can cause major headaches for merchants. If a customer disputes a transaction for whatever reason, you will have to go through a complicated process that costs you fees as well as losing the sale.

As a merchant, you first must be fully aware of the most common reasons for chargebacks. Read our post on the 4 main reasons for chargebacks.

To prevent chargebacks, follow these 7 tips:

  1. Always enter the address and zip code information when prompted
  2. Always attain a signature on the receipt for Card Present Transactions
  3. Always have the invoice acknowledging services received as outlined and signed by the authorizing card holder; credit card authorization form for Card Not Present Transactions
  4. Always enter the 3 digit CVV code when prompted
  5. Keep a detailed record of shipping documentation, request signature for shipped items
  6. If the billing address is different than the shipping address take caution
  7. Request a copy of the drivers license to ensure it matches the card used for Card Not Present Transactions

The best way to prevent and handle chargebacks is to use a credit card processor who understands you, your business, and your industry, and can offer expert guidance. The Chosen Payments team is available to help you out with any questions you may have, so please feel free to contact us at (855) 424-6736 or fill out the form below:

 Image courtesy of BimXD at FreeDigitalPhotos.net

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