What Are Chargeback Rates?
Every credit card network has
its set of rules for merchants. According to one of those rules, a merchant
is allowed only a fixed percentage of chargeback each month. This fixed
percentage is called chargeback rates.
The chargeback rates are
calculated differently for different card networks.
In every
business, chargeback remains a topic of concern for the merchant. No matter
what you do and how you conduct your business, you will definitely get some
chargeback every now and then. However, you can possibly try some methods to
lower chargeback rates.
Tips To Lower Chargeback Rates
An excessive number of
chargebacks affects business and profitability. This is why you need to keep
chargeback numbers under the limit.
• Keep
A Keen Eye On Delivery Services – If your business involves the delivery of goods
then you need to make sure the customer gets the item on time and without any
defect. Ideally, you can offer live tracking services and customer support
services.
• Monitor
Disputes – Finally, you need to keep the record of all the disputes occurring
in the business. By using this data and analyzing them you can pinpoint the
cause of chargebacks and Lower Chargeback Rates, if possible.
•Communicate
Clearly –This is the first tip to avoid disputes in your business. If you and
your customers can communicate then most of the disputes will be handled
without having to file chargebacks.
• Explain
Terms & Conditions – The terms and conditions of your business should be
clear to the customer before the payment is made. This is the responsibility of
the merchant to make sure that customers know the product or services they are
purchasing.
• Hire
Trained Staff – A well-trained staff is important when managing the business.
Trained personnel can ease the customer by providing all the required
information regarding the product and make a good sale.
Chargeback Expertz
Chargeback Expertz is a platform
where you can get a lot of new mesmerizing techniques where a merchant can
easily defeat the chargeback rates and chargebacks. Contact us
PHONE: +1 855-465-4723 or mail us
at EMAIL: app@chargebackexpertz.com.
