Some Useful Tips To Reduce, Manage & Win Chargebacks

At any time, the customer can file a chargeback for any reason code. Chargeback not only effects profits but also, the image of the business. Lesser the chargeback ratio better will be the reputation of the business. We, at Chargebackexpertz, provide tools and technology that prevents chargebacks and in case, you get one, we will help you fight that chargeback.

Chargeback process

When a customer files a chargeback, this is done by opening a dispute and asking the issuer to reverse the charge. The Credit Card Company will contact merchant’s bank who will notify merchant regarding the same. A detailed analysis and strategies are required to win a chargeback dispute. Chargebackexpertz provides the merchant with the management tools to achieve substantial results.

Causes of Chargebacks

Chargebacks can occur due to various reasons, but the most common ones are as follows:

• Item not received
• Item received is not as described
• Unauthorized transactions

How to Reduce or Prevent Chargebacks

• Mention clear and easy to understand return policy
• Provide contact information (phone number and email address) and a 24*7 customer service
• Respond to customer inquiries ASAP (as soon as possible)
• Provide customer with realistic delivery date, and tracking & shipment information
• Inform customers about out-of-stock items.
• Provide an exact picture and detailed description of the product.
• Provide adequate disclosures about the item to be sold.

Benefits

• Reduced Risk
• Increased Profits
• Ensured Sustainability
• Customer Retention and Loyalty
• Recovered Revenue
• Improved Brand Name
• Improved Industrial Relationships
• Declined Chargebacks.

Tools and Strategies for Effective Chargeback Management

• Identify the source so that appropriate prevention technique can be applied.
• Management platform that audits, review and reports alert.
• A customized action plan to reduce risk and chargeback issuance
• Challenge faulty customer behavior and friendly frauds

At Chargebackexpertz, we provide effective strategies to our clients to find the chargeback source, manage them and fight them in the most efficient way. The three major chargeback sources are:

• Merchant error
• Criminal fraud
• Chargeback fraud