THERE IS NOTHING I CAN DO TO PREVENT CHARGEBACKS – THE CARDHOLDER ALWAYS WINS
*Chargeback allows the consumer to ask their card provider to reverse a transaction
The most common cause for chargeback is fraudulent transactions. This happens when the Debit/Credit card is used without the authorization and consent of the cardholder. In cases like these, the merchant is held solely responsible.
Establishing a secure payment processing process when dealing with customers will help create good habits. Always check the name on the credit card, and keep your terminal technology up to date with the required EMV and PCI compliant hardware. Also, when in doubt, ask for a secondary piece of ID. There is no law that says you have to accept a credit card from a customer. You have the right to refuse any business you feel may be fraudulent or a customer using a stolen card. Also, always keeping receipts of the transactions for your files is a great habit to keep in case you need to fight a chargeback.
About Cornel Sampson
Helping UK Businesses MAKE MONEY and SAVE MONEY on rates they pay to the bank for taking payments by Debit/Credit Cards
Helping Retailers and service providers to take payments by debit/credit cards face to face or online – Saving up-to 40% in Fees & Charges
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