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.
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
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