Merchant Services: Ways To Reduce Chargeback?s
Accordin to netregistry.com.au,Chargeback, the word that Internet merchants fear. A chargeback is what it's called when a transaction is reversed. In other words, rather than adding money to your account it is deducted. ChargebackÔ??s can occur for a wide variety of reasons, such as double-charging, credit card expiration, bank error and customer disputes. If you get too many chargebackÔ??s against you, there is a possibility that you will lose your merchant services. Once you've lost your merchant account and services you are placed on the Visa/MasterCard Terminated Merchant File (TMF/MATCH list) for several years which all Merchant Accounts Provider have access to, and if they find you on the list they won't reissue a merchant account to you. If you are one of those merchants who have lost their merchant account, there is still hope. Bank Card Law specializes in helping companies who've lost their merchant account because of excessive chargebackÔ??s.Here are some ways you can greatly reduce the instances of chargebackÔ??s and fraud, even potentially eliminate the risk altogether:
┬? Watch out for orders using free e-mail addresses: Tracking people who used a free e-mail address is almost impossible; it's much easier for them to get away then if they used their Internet Service Provider (ISP) or their own company web site e-mail address. To check whether an e-mail address is a freebie or not just take the part of the address after the "@" symbol, add "www" to the front of it and see what website it brings up (i.e. email@example.com = www.yahoo.com).
┬? Posting a warning message: Taking the time to post a warning message on your order page to those who may attempt to make a fraudulent order will greatly deter the number of instances of fraud. Be sure to mention that IP (Internet Protocol) addresses are being logged. IP addresses can come in handy when locating people about fraudulent orders.
┬? Handle suspicious orders accordingly: If an order seems suspicious the best way to handle the situation is to either call or e-mail the customer and attempt to verify that they placed the order. As a rule of thumb, if in doubt, check things out. It may be a good idea that if a customer makes an unusually large volume purchase from your site to follow-up with a verification.
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