Be Secure! 4 Proven Ways To Reduce Refunds and Charge Backs

Perhaps the biggest thing you want to avoid while processing credit cards are chargebacks. Chargebacks are bad for your business as on top of the returned sale, there are also bank fees attached to them. You want to avoid them at all costs and here are 4 simple steps to do just that:

1. Good Record Keeping - Keeping organized records of your customer’s sales details such as the card they used, date and time of purchase, and purchase amount can protect you from false claims. It also shows your bank that accountability is important to you.
   
   
2. Likability - If customers like you, they will be less inclined to do chargebacks. Simply put, if they feel like they are part of your store, rather than just a customer, they won’t want you to lose money. You’d be surprised how far an extra smile or other common courtesies will go in building customer relationships that protect your business.
   
   
3. Availability - Always be available to answer the questions of your customers whether it be by phone, Internet, or face-to-face. Diffusing problems and answering questions quickly will lead to less chargebacks and higher customer satisfaction.
   
   
4. Offer Time Sensitive Bonuses - A great way to ensure that customers will think twice before returning a product is to offer time sensitive bonuses that only become active after, say, a month or two. If the customer feels that they will gain something by retaining a product, even though they feel unsure about the original purchase, they will be far less likely to ask for a chargeback.

Implement these trusted methods to ensure the highest level of customer satisfaction that will protect your revenue and your credit.