The rise of e-commerce has made shopping easy and quick. Unfortunately, it has also made it easier for shoppers online to commit fraud. Fraudsters can make several claims or accusations when filing a dispute for friendly fraud, including services or items that were not as described, the cardholder didn’t authorize the original transaction or a service or item that wasn’t delivered. The negative impacts of friendly chargeback on a business can be painful because a venture is likely to lose revenue from the sale and the merchandise. You can prevent these losses by considering these suggestions.
Match Descriptions With Products
Disputes may occur when the product descriptions fail to match product expectations. You may not have mismatched descriptions on purpose, but products ought to be as described during a purchase. A chargeback can occur if a business is unclear with the description. That’s why it’s wise to disclose everything about your services or products so that you can disprove disputes that indicate a mismatch of description.
Get Help From Professionals
Merchants can lose more revenue to chargeback fraud than criminal fraud. That’s why it’s advisable to seek help from a professional in Ethoca who is conversant with the evolving fraud techniques. The expert can give unique tips for dealing with chargeback fraud and exposing trends in the payment industry.
Use Electronic Signature Pages
The more transaction-specific information your business can capture, the better. You may obtain the signatures of your clients on an electronic signature page once they are through with an online purchase. You can help your customers to understand what they are purchasing and the terms they agree to when you require a signature form them. It can also offer you enough documentation that you may use to dispute future chargebacks.
Promote Communication With Customers
It’s wise to provide a company email, a chat feature and contact number that cardholders can use to contact you. The information, together with an encouraging tone, can motivate holders to contact you for any question. It can reduceand force cardholders to contact you first before filing a dispute.
Keep Records and Account Histories
A risk mitigation plan can significantly lower friendly chargebacks. You can maintain detailed records of your customers to assist in making a compelling case and recovering more profits. You can automatically archive all details of clients such as electronic signature page, IP address, and delivery tracking information. The account histories can save you revenue, time and headaches.
You can improve your dispute management skills using these suggestions. It’s wise to handle disputes with excellent customer service. You can also get the right tools to avert chargeback fraud.