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customized high risk merchant accounts, High risk credit card processing, High risk merchant, High risk merchant account, High risk merchant account provider, High risk merchant service provider, Merchant Account high risk
A chargeback is a transaction that the card holder refuses to pay or has a dispute about. There can be multiple reasons for a charge back, but they mostly occur when a customer returns the item, decides to terminate the services or if the transaction is fraudulent. Read on more to know about what you can do to keep the chargeback ratio to minimum.
1. Try to Keep The Risk Factors In Control
The transactions which are often disputed by a chargeback are the ones made by a telephone order, mail order and other online transactions.
2. Maintain a Customer Database
If the high risk merchant maintains a database of customers that are problematic, he will be able to control chargebacks better. He will be able to monitor such transactions and block credit cards if required.
3. Monitor Multiple Orders on A Daily Basis
If the merchant is able to limit the number of transaction per customer, he might be able to reduce the chances of a fraudulent transaction.
4. Get to Know The Customers
If the merchant makes an effort to know his customers personally, the chances of a chargeback will lower. If a customer has a problem, he might feel more comfortable talking to the merchant before calling the bank.
Keep these basic guidelines in mind if you want less troubles coming your way on a daily basis! Chargebacks aren’t pleasant, even if they are less in number, and you probably know that already.
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