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Chargeback Prevention
Services Not Rendered
Once the transaction has been made, supply all details of the agreement to the cardholder in writing, and ensure your company's terms and conditions are clear.
Credit Not Processed
Always ensure that the terms and conditions in regards are clearly stated when the transaction is made, including the refund policy. If a credit is due, this must be processed within 30 days of a refund being offered to the cardholder.
If the customer has advised the card issuer that you have not credited the transaction, but a refund has been made via an alternative method, such as a cheque or store credit, respond to the retrieval request with proof that the credit was paid by other means.
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General Information for Chargeback Prevention
Keep all transaction records accessible for 180 days so they will be readily available in the event of a retrieval request. If you cannot provide the information within the allotted time frame the chargeback will be issued. When responding to a dispute, ensure the documentation is legible as the issuing bank can still process the chargeback if the information you have provided is unreadable.
Always send your customer confirmation of their order by post or email once the transaction has been processed. Many disputes occur because the customer cannot recall what they have purchased on their card. Providing written confirmation of an order should serve as a reminder.
In the case of telephone orders, staff should repeat the number back to the customer to ensure it is correct. In any non face to face transaction staff must exercise caution when typing in the card details.
Be aware of fraud prevention measures such as the Address Verification System and requesting the cardholders CVV2 (Visa) and CVC2 (Mastercard) number. Many small businesses fail to implement these measures, and ultimately lose out when a chargeback is issued against them.
Previous page - Preventing Chargebacks
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