How To Neglect Friendly Frauds Or Chargebacks?

E-commerce business has increased a lot, that many people are having benefits from this. Increasing the profits is okay but when it comes to frauds it happens just double of that in a few cases.

Every e-commerce business holder should have a sharp eye on the fraudsters. Friendly Frauds are hard to find but not easy to escape.

What are friendly frauds? 

Friendly Frauds (FF) are the one, when a customer purchases the product through their credit card and requests the bank to issue the chargeback, against the purchase made by him/her.

Where else the merchant faces a lot of loss if the chargeback is not into his favor. Here are a few common causes which a merchant faces.

1. The product or service is not delivered.

2. The purchase is not as it is which was described.

3. The cardholder is not aware of the purchase.

These,3 categories are the most common a situation which a merchant faces it, and suffers a loss such as product loss, bank fees and the penalties as well.

Few practices to prevent chargebacks?

1.      Use of Payment Check Out Properly.

Add some strong legal ends to the payment page, make the page full of agreement that the customer think twice to do a fraud.

2.      Use methods of capturing transactions:

Merchant must capture more transaction-specific details as to avoid the challenges in the chargebacks and if the action is taken, you will be ready to show the documents to the bank.

3.      Get help from Professionals:

All in all, there is a work in which everyone specializes. Professionals should be hired who knows in and out of the chargebacks and policies regarding various businesses. They clearly specialize in avoiding, fighting and reducing chargebacks.

Chargeback Expertz

Chargeback Expertz gives away the best and discards the unnecessary fraudsters which affect the business. For more information call: +1 855-465-4723Or Email: app@chargebackexpertz.com 

Strict Detection and More Profit.

Owning a business involves the risk of fraud especially, e-commerce business where transactions are done virtually, known as CARD NOT PRESENT. CNP payments increase the risk of fraud exponentially.

3 highly common causes of chargebacks.

• The charge or business name is unrecognizable on credit card statements
• Usage of your credit card without any intimation to the owner.
• The delivered goods or services is not actual as described or the good received is damaged.

In order to detect chargebacks, you must combine machine learning and a human interception. Machine learning will ensure data has been quickly analyzed, checked and balanced.

What can you do to prevent chargeback? 

Customer service – Expect excellence from your employees. Train them to be effective, efficient and empathetic when a customer concern arises.

Train your Employees – Invest time in their business knowledge and ability. Actively enforce relevant policies and procedures.

Know Your Customer – Monitor customer behavior and activity by calling or emailing the customer by which you can further confirm the security of sales.

Keep up to date and secure technologies – Always be informed of technological advancements to keep your business’s and customer’s safety.

Chargeback Expertz

Prevention and Detection of chargebacks will protect your e-commerce business’s profitability. For more information, feel free to contact Chargeback Expertz and get the information related to the various Chargeback Frauds and how to prevent them. Furthermore, Chargeback Expertz also provides assistance with the Representment and Chargeback Reversal. Contact now at the toll-free number +1 855-465-4723 or chat via Skype by visiting www.chargebackexpertz.com