5 Ways to Reduce Chargebacks in 2021

There are two main reasons why you can face the chargeback. In the first case, the customer is not satisfied with the service or has personal issues. However, some people just want to make a profit on you. In recent years, the level of online fraud has increased several times. At the same time, various chargeback prevention measures have appeared. Here are the most reliable of them. 

1. Create a Clear Service

The chargebacks decrease a lot when the customers start to trust you. For this to happen, you should provide a clear payment description. A person should see the company’s name, the full name of the purchase, and, if possible, the customer service phone number. Also, allow the customers to follow their product delivery. You can offer a clear return system where they can track its process.

2. Make Connection with Customers

Sometimes, the clients just don’t have the opportunity to ask the question or to change the purchase. That’s why your service ought to allow people to connect with you quickly and easily. Leave a message where the customer can ask for help after each payment transaction. You can also send emails to discover whether a person liked the service or how you can improve it. 

3. Analyze Your Chargeback’s Data

Of course, you can face diverse chargebacks at first. But you should use these issues to analyze which products or services are most likely to suffer from the chargebacks. The next step is to apply the needed precautions to them. Some software may provide real-time chargeback reporting. Thanks to this, you can see the possible problems and cope with them faster. 

4. Apply the Anti-Fraud Features

Among the most popular anti-fraud features are confirmation methods like address or email verification services, order validation mechanisms. If you offer smartphone applications, there are also various options. You can use the device fingerprinting, set the velocity limits for purchasing, and other protocols. Don’t apply a single service – try them all, decide which features are effective, and leave three or more.

5. Train Your Staff 

You can’t control all the workers in your company. However, you can teach them how to avoid chargebacks. Explain to them how the anti-fraud services work and how to analyze the chargeback data. Also, they should understand how to detect the possible issues. They can connect with the customer if needed or increase the protection. 

Be Confident in Your Business 

When providing client services, you can’t prevent all the problems. But you can understand how they happen and which protocols are required to decrease the chargebacks. You should remember that customers will trust you if the purchasing is clear and easy to track. The more you communicate with the clients, the more they are satisfied with the service and strive to work with you in the future. But don’t overdo it. 

Many methods of prevention are available today. So, try them and become more confident and satisfied in creating quality service and products.