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
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