Avoiding chargebacks

Chargebacks occur when your customers contact their credit card issuing bank to initiate a refund for purchases made on their card.

CHARGEBACK MANAGEMENT:

• Use a clear company name customers will recognize. An unrecognized DBA name on billing statements is one of the most common causes of chargebacks.

• Be reachable (put your company phone number and/or website on your invoices) and communicate promptly. A limited amount of time (10 business days) is available to resolve a chargeback.

• Obtain authorization for the full amount of the sale. Declined transactions should not be accepted or split into smaller amounts. • Encourage Chip & PIN payments.

• Use the fraud services offered by the

Processing Bank including AVS (Address

Verification), CID and CVV2.

• Never accept an expired credit card.

• Clearly state your refund policy on your website and in your business location.

• Establish a clear policy in case of complaints regarding product quality.

Work closely with the customer to establish a mutually satisfactory resolution.