Four Ways to Avoid Credit Card Chargeback’s

It is an impossible task to completely eliminate the possibility of a chargeback but there are ways you can reduce the chances of having them happen to your company. If you follow the steps below the chances of receiving chargeback’s will greatly reduce. Even the best credit cards can’t avoid chargeback’s.

Match ID and Credit Card – The leading cause of a chargeback is from stolen credit cards. To protect yourself and the credit card holder a detailed look at the credit card and the ID could catch them before it even happens. A few items to verify are the name, picture, and expiration.

Verify CVV Verification Numbers – These numbers were made for a reason. Use them! If you are running an ecommerce store and you’re not asking for these numbers during checkout then you are inviting fraudulent charges and possible chargeback’s.

Address Verification – Verifying the address is becoming a standard now for online shopping but not everyone is doing it. The very simple process of running a verification of their home address that’s connected to that credit card will make a noticeable difference.

Challenge Your Customers – It’s not a commonly practiced method even though it’s appreciated by your customers. When you show your customers that you care about credit card safety you are welcoming them for another visit. While at check out give your customer a little quiz while you check their ID. What is your Date of Birth? What is your home address?

A few companies like St.George credit cards have taken a stand against chargeback’s and others are starting to follow.