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FEW WAYS TO REDUCE TOBACCO CHARGEBACKS AND REFUNDS

Chargeback’s can make you go out of business. You will have to pay a large penalty for every chargeback and too many chargeback’s against your company will lead to the termination of the merchant account. Therefore, you need to take some steps to reduce chargeback’s and refunds. Given below are a few.

  1. Post Sale Bonus

Rather that giving everything at a time, a few smart businessmen set up several free bonuses that are given to their customers 1 at a time. This technique works in most cases as your customers have more to loose than gain if they file for a chargeback. This can be set up easily by sending messages containing the link for their next bonus.

  1. Be open about your 3rd party account

If you are using a 3rd Party account like CCNow, 2CheckOut or Clickbank then tell your customers that you do. One drawback of using 3rd Party account is: your company’s name does not appear in the statement of your customer’s credit card. Therefore, your customer’s should be aware of this.

This will ensure that they will not be surprised on seeing their statement.

  1. Be Available

Provide your email address to your customers so that they can contact you in case there is a problem, otherwise they will file for a chargeback.

  1. Give more than what you promised

If you promise more and deliver less, then, you will not only have to face many refund requests, but you will also be taken to court for breaking the law. Therefore, at least deliver what you promised.

  1. Give a lifetime bonus

You should give something to your customers which they will use for a long time. The best example is an online tool or a member’s only forum for discussion.

If they request a refund they know that they will loose this ebook or the membership, which makes it more difficult to file for a chargeback.

  1. Keep Records

Keep records of your customer’s details like when they bought the product, the credit card details etc. When the customer files for a chargeback then you at least have proof to prove you’re self.

  1. Advanced Processes for authorisation

Some processors require just the expiry date, card number and name to process the transaction. However, a few processors require more information like security numbers printed on the back of the card, name, address, etc. All this information will be checked against the details of the card holder which will reduce fraudulent transactions and lessen the chances of chargeback’s.

  1. Be Likeable

It sounds primitive and simple, but this method still works. If you are helpful and likeable you will be saving your self some hassle. When customers post queries answer them well. Don’t just turn your back on them when they ask for a refund. Find out what the problem was and rectify it or else be ready to face a chargeback and loose everything from that transaction.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.