Practices to avoid chargeback

Prevention is better than cure - like that establish practices helpful to safe guard against chargeback claims.

• Cancellation and return policy must be stated on the website
• Refer local laws or advised from law expert for policies, terms, conditions to protect and fight back
• Use a clear payment descriptor – like Billing company name that reflects on payment statement.
• Contact to your payment processor to learn more about their chargeback policy.
• Identity  confirmation through services like Verified by Visa or MasterCard  Secure Code, which require customers who opt in to enter an extra  password to authorize credit or debit card payments online.
•  "chargeback protocol," that helps detect signs of fraud. 
• Pay  attention to alerts that inform if there are any suspicious details,  such as if the credit card security code isn't correct or if the billing  and shipping addresses don't match.
• Checking Address Variations
• Merchants will often come across orders where the “Bill To” address is different than the “Ship To” address.
• Dispute All Friendly Fraud
• Merchants must dispute all friendly fraud chargebacks to improve their reputation with issuing banks.
• Get  chargeback protection coverage from respective payment processors or  third party that help to defend chargeback and helping to save huge  revenue loss.

Next > Click to read "Fighting Chargeback"