08/20/2020

Chargeback Prevention Tips for Merchants

Find out ways to reduce these costly charges

For merchants, chargebacks are a part of doing business when you accept credit cards. It can be costly, time-consuming and stressful to sort through legitimate and illegitimate (fraudulent) charges. But there are steps that can be taken to prevent them in the first place. Chargebacks911 provides a list of effective  prevention tips that can help merchants run offense instead of defense:

1. Reduce Merchant Error
Follow business best practices to reduce merchant error. Reference payment networks’ rules and regulations and obtain unbiased analytics on your business.

2. Use All the Available Tools
Be sure to use validation tools such as Address Verification Service (AVS), card security codes (CVV2, CVC2, etc.) and 3D Secure to help deter chargebacks.

Please select this link to read the complete blog post from OSAE Member Infintech.