How Happy Customers Reduce Friendly Fraud & Makes Merchants Money

5 Friendly Ways To Fight Fraud

Following these tips for an ethical e-commerce business will lead to more satisfied customers, more orders, less chargebacks, and higher profits.

Be Honest

Often the cause of  a chargeback is an unsatisfied customer with buyers remorse. It is important to market honestly to create trust and brand of your business. When your product is delivered it must be as described, free of defect or damage. Delivery issues often result in dissatisfaction and ultimately lead to chargebacks. With any business, it is better to under promise and over deliver rather than fall short of customer expectations.

Be Aware

It’s important to review Network Rules and Chargeback Reason codes for Visa, MasterCard, American Express, and Discover. Have easy to follow protocols in place. Annual meeting and frequents training seminars will ensure all employees are informed and updated.

Be Proactive

Strive for customer service excellence.

Analyzing your business with customised reports to understand how you can improve protocols and customer experience is one way to be proactive. Pay extra attention to new customers, large, unspecific, multiple orders with matching information. A Chargeback Alert System, Customized Reports, Real-Time data, and a Chargeback Management Team will ensure a more successful business.

Be Responsible –

Employees must respond to customers with concerns promptly, effectively and efficiently. Verify information and always authorize before processing a payment. Monitor for missing information or multiple accounts with overlapping info. Create aChargeback Management Teamor hire an expert Chargeback Management Company for best results. A highly trained staff that feels valued means that you will have customers that feel valued.

Be Trusted – There is no better marketing than a happy customer. On the flip side there is also no worse advertising that a dissatisfied customer. Customer must believe in your product and high quality customer service that they receive from your business. Creating trust will results in repeated customers.

Verifying Credit Card Details Will Save You Money

• Here is a quick list of Important Card Information
• Date of Expiry
• Name on Card
• Addresses for billing and shipping
• IP Address
• CVV
• Authorization

Missing any of the above information can lead to revenue damage as some customers will receive refund and replacement. As a result, the business is losing money and fraudsters are finding it in their pocket.

In Closing,
A business with employees and leaders that are honest, aware, proactive, responsible, and trustworthy is the best kind of business.

Chargeback Expertz provides services like chargeback alerts which act as a notification prior to a Chargeback. To know more, call us anytime at the toll-free number i.e. +1 (888) 901-8653 or visit chargebackexpertz.com for the same.