Payment Gateway
Payment Links
Payment Pages
Payment Buttons
Invoices
What is a chargeback? It’s a dispute against a particular transaction raised by the cardholder also known as the end-user. It’s a feature offered by banks and credit card companies to shield customers from fraudulent or unauthorised payments. If it isn’t fraud, it’s usually associated with unsatisfactory products or poor service. So why and how should you avoid chargebacks?
Why avoid chargebacks?
It’s best to avoid any kind of chargebacks, as banks and card networks can label your business as high-risk. This could lead to undesirable outcomes. A high number of chargebacks can lead to the bank holding your business’ remittances. The worst case scenario? A ban on online payment services is imposed upon you. However, customers usually have a timeframe of 120 days to file a complaint, which means your sales are reversible in that period!
How to avoid chargebacks?
Most cases come up due to miscommunication between the buyer and seller. Here are a few tips you can keep in mind to avoid any complaints.
Dos |
Make sure return policies are mentioned clearly on the website. |
Keep customers updated regarding the status of their orders. |
Share tracking numbers, invoices, and all other order-related references with your customers. |
Promptly acknowledge and respond to chargeback alerts. |
Don’ts |
Breach the deadline in responding to chargeback notifications. |
Overlook the importance of providing necessary documentation, |
Share incomplete proofs or details while responding to complaints. |
Neglect communication with relevant teams during the process. |
In conclusion
Chargebacks pose significant risks to businesses, potentially leading to financial losses and reputational damage. Curlec however, has dedicated on-ground support that can offer valuable assistance in mediating and resolving chargebacks promptly. With the Payment Gateway, your transactions are ensured to be smooth, secure, and one less thing to concern yourself with – so you can focus on what matters, growing your business.
