Skip to main content

Merchant Services for Website : Vital Facts About Credit Card Chargebacks


Nowadays, it is very common and easy to get started with merchant service accounts. One of the major risks possible due to them is chargeback. This is something that occurs but not frequently. They happen if the customer is not satisfied with the products or services offered by the merchants. Need not say, these claims are no less than a headache for the business. Hence, it is very important to know the basics about it and the way it works. If you are familiar with these useful points, it’s well and good; if not, the provided information will definitely help.

Not harmful for the consumers

Chargebacks happens when a consumer complaints against the merchant. For instance, there’s a customer who has ordered a product online but does not receive it on time or finds any fault in it. In this condition, he/she can request the credit card company to cancel the transaction. Now, the company will contact the merchant and ask for the information. If it finds flaws, it will pull the money from the merchant’s account and credit it into the customer’s account.

Charges for the merchant

Besides suffering from loss of payment, merchant also has to pay the charges imposed by the credit card company. Even if the customer’s request is denied, charges have to be paid by the merchant. In case this chargeback approves, merchant has to pay an additional charge.

Good service, no chargebacks

As long as you provide good service, you are safe from penalty or fine. If you offer transparent and useful information before the sale and ensure timely delivery of products, your chances of facing the fine reduce largely. Asking the costumers about the feedback after delivery of the product is also a way to win their trust.


It can’t be denied that merchant services for website brings profits to businesses and comfort to its customers. However, it is important to be careful and avoid every chance of getting trapped with fake charges. Be alert towards your services and offer friendly customer support to your consumers. This way you won’t give them even a single reason of cancelling their order or questioning your services. 


Read More: https://paycronus.wordpress.com/2016/06/02/accepting-credit-card-a-boon-for-your-business/
Labels:
Location: United States

Comments

  1. UnknownDecember 19, 2016 at 11:30 AM

    Sometime you face credit card payment errors; we are providing the solution for credit card payment. You can check for credit card payment solutions, credit card processing solutions and electronic payment solutions or international payment solutions.

    ReplyDelete

Post a Comment

Popular posts from this blog

Offshore Merchant Account: Why Your Business Need it?

Credit card payments have improved the prominence of many online businesses. If you have an eCommerce site, it will certainly do the same for you too. But then you will require to make certain that the offshore merchant account system you select is protected and secured for any kind of payment transfers. Getting an offshore merchant account would be a prudent thing to do. There are offshore merchant account providers in the market these days who can assist you with this. A business may not be able to run without having a merchant account as it allows the business owners to hassle-free credit card transactions. An offshore merchant account allows you to get away from paying high taxes. It gives you the chance for international trading, whereby offering multicurrency accounts.  Moreover, it also improves the potential of the company. By having installed, you can anticipate acquiring higher sales every month. Also, it decreases the tax liabilities of your business. With this, you
26 comments
Read more

Why Businesses These Days Swear By Online Payment Processing?

If you own a small organization, you must be accepting payments via checks or cash. Though this seems easy and working for you at the moment, the rapid growth of credit card processing will surely affect it later. This is because every business is turning towards online payment processing services and accepting cash or check is reaching the edge of extinction. Well, there’s nothing to feel worried about, as online payments offer a number of advantages to the business as well as its customers. Nowadays, consumers feel more comfortable paying online. Therefore, websites that still don’t allow customers to use credit or debit cards are going out of step. Speed up the process There is no denying the fact that online payment processing is faster and better than manual payment. This is because there is no need to wait for the check to arrive or keeping any eye on it to see whether it’s clear. Right from submitting the payment to updating the bank account takes just a few seconds
8 comments
Read more

How To Choose The Best Payment Processor?

  Choosing the best payment processor for your business can be tricky considering it involves so many factors and variables. As a business owner, one might be perplexed as to which model fits their business best and minimizes losses in terms of chargebacks and friendly frauds. However, there are several guidelines and tips out there to solve this mystery and chalk out a clear checklist to determine the payment processing services one needs. If you are a startup or small business, laying down the foundation of your e-commerce business and setting up a payment processing system to receive money from the customers becomes imperative. It becomes difficult to find a reliable payment processing service sometimes, it is mainly because:     1. Your business is classified as high-risk.     2. You are a newcomer or an unknown brand or business.     3. If payments take a long time to process.     4. If there are more ‘card-not-present’ transactions. A trustworthy payment processor provides you s
6 comments
Read more