How can I decrease chargebacks for my company?

The truth is that chargeback initiatives are going to occur for a wide range of different reasons and they could cost the merchant a lot of effort, time and money to deal with. With this in mind, we’d like to bring to your attention 10 quick ways to reduce the amount of the chargeback claims that your company receives. This is a type of risk management which is designated to spare you quite a lot of money.

Transparency is key

Well said that transparency is key, you customers should aware about what you are selling to them. They must have a clear vision about the product or services they are willing to purchase. There shouldn’t be anything hidden from your customer. They must be aware about the pricing structure and should have complete information for which they are paying.

Respond as quickly as it’s possible

You need to respond by the date which is stamped on the enquiry letter. With this in mind, even if the customer has no merit, failing to dispute the claim on time would render you responsible for paying it off.

Use CVC2 as well as CVV2 Verifications

Visa has definitively said that this could actually reduce chargebacksby up to 26%. This is an extra layer of security that’s going to help you against fraud. If somebody trying to make an order online using only 16 digits of other’s card with the intention of fraud cannot succeed.

Use AVS (Address Verification System)

You need to be very cautious of orders which contain different addresses. People who have been using a stolen card number, for instance, are never going to use the real billing address. If you are using AVS system you can reduce fraud in your business. AVS system will ask your customers to processed with the correct billing address of the card they are using, if they would failed to provide correct billing address the transaction will not take place.

Terms and Conditions should be visible

Make sure you website should disclose the terms and conditions in proper manner so that customers can read carefully before they made the purchase. By this way, your customer will aware about product / services and will be aware about the delivery of them along with the charges they are going to pay.

Inform Customers About the Name on the Statements

Let your customers know properly about what name will going appear on their credit card statements for the purchase will help them to recognize the transaction. Sometimes customers dispute the transaction due to non-recognizable name appearing on their statements. Make sure the customer identify your business or website by your descriptor.

Get the Signature

If your business is product based and you deliver the product upon order, you can get signature from the customer on delivery receipt as confirmation of delivery. Your courier partner can helps you to get signature from your customer, it’s known as valid proof of delivery.

If you are running a service based business like tech support, you can get signature from you customer electronically using any e-Signature software on the delivery of the services. The customer will be aware of the validation of the services.

Request a Copy of ID

If you have a copy of your customer’s ID / credit card for the transactions, you can rest assured that everything is in line. This is going to help you reduce chargebacks.

Do you want to cancel and find a new credit card processor that will treat you better?

This is a good time to ask yourself why you'd want to keep working with a processor that has jacked up your rates for no good reason. (Is this a good time to insert a shameless plug to work with me? At Acardpay we value our clients and don't do rate increases.). The reality is that it's important to remember that this is a long term partner for your business. If it's happened once, it's likely going to happen again. Plus, just from an ethical standpoint it probably feels very wrong. That was not what was agreed to originally, and it's not right to just change your rates.

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If you are Canadian you happen to be in a particular good situation. In Canada you can exit your contract penalty free any time there is a rate increase. That makes it easy to escape from processors who aren't treating you right. Outside of Canada, you might have a fight on your hands.

Is there a service to manage recurring payments to multiple merchants?

This is a major irritant for the consumer, Issuer and the recurring billing merchant. However, there is no magic silver bullet yet to solve this completely. The problem to solving this is not technical but more business related, including fraud concerns and problems related to authorization/credentials to each and every stored payment location/website along with website terms forbidding screen scraping.

Some of the solutions include:

Many merchants have an Account Updater Service, where the Networks (Visa, MasterCard, Discover etc.) provide this as a service by plugging directly into their Issuers based on events such as Expiration date change, Lost Stolen, etc. Merchants can benefit by plugging into this service offered either thru’ their Payments processors or thru’ the network directly.
Many PFM providers have attempted to do screen-scraping to get consumer authorization to go in and change the stored information. However, tere are terms and privacy issues related to this
Many issuers have inbuilt logic where if they see a stored or recurring payment for the previous card, they will let it go thru’ for a certain period of time without declining it.

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Can you really get rich by drop shipping?

Dropshipping is just like any other business in terms of ability to get rich.

There is no such thing as a get rich fast company. It really also depends on what you consider to be rich. Could you do $100,000 in sales/month doing dropshipping? Yes. Could you do $250,000 in sales/month doing dropshipping? Yes. Could you do 2–3 million in sales/month doing dropshipping? Yes. Does it mean you will too? No.

There are many companies out there doing millions in sales a month doing dropshipping, but like any business, it takes a lot of hard work and dedication to grow it.

8/10 businesses fail in the first year or so, and only 3% last longer than 5 years. And Acardpay is no different.

Like all business, you’re going to need to understand the category and build up a brand. You can’t just slap products onto a website and hope to be successful. There are thousands of new stores (dropshipping stores) opening up each week, huge competition. You need to come up with a way to make yourself stand out. Not to mention spend a vast amount of money on Facebook ads (once you grow and can afford it).

You can essentially start a dropshipping company from nothing, it’s possible to spend $0 and grow it into a multi million dollar company organically.

Realistically, if you’re looking to just to get into dropshipping because everyone is doing it, and fake guru’s are saying its easy and there’s lot of money to be made, then you’re setting yourself up to be the 8 of the 10 ones that fail.

Being an Entrepreneur is going to be one of the hardest things you’ll do in your life. If you need fast money, you will earn more money short-term working at McDonalds and put in way less hours.

Entrepreneurship is becoming a huge trend, very popular. And so is Acardpay. But websites and media, and fake guru’s are over-hyping it and convincing soo many people to start it without giving them proper expectations of what is truly required for success. There are tons of people out there getting involved in the hype, starting up a business, and wondering why they have 0 sales after 6 months.

If you want to make it big in Acardpay, you got to find a unique way of doing it, something above and beyond your competitors. Find a specific niche and grow it, it’ll be an uphill grind. But if you can make it over the hill, and become that small percentage of dropshippers that find success, then yes you can get rich. But it’s no different than any other business in overall outlook.

You can follow me here. I also blog about my travel and business experiences and give advice to entrepreneurs and start-ups.

What is payment gateway and Payment processing Solutions?

payment gateway is ‘software we use to transfer transaction data from the merchant to the acquiring bank. This software serves as an interface between the payment form on the merchant’s website and an acquiring bank.’

Payment processing is ‘a company or a financial institution chosen by a merchant to process his online payments.’

For more comprehensive information, check out the article in the footnotes. It covers everything you need to know about payment processing, payment gateways, and merchant accounts.

What are the website requirements for payment gateway integration?

Yet whether or not you need payment gateway integration depends on the process of dealing with the end users/providers of your service/products.

For example, if you need only to collect money from your customers, you could just integrate with a Merchant Account, sometimes with the API documents, sometimes even without any technical issues, especially if the Merchant Accounts provider could provide payment pages or payment button. such as Global Payment Service Provider - Acardpay

If you need to payout to someone or enterprises directly by channels that could be dealt with online operation most of the time , you’d better integrate with payment service provider that could do remittance work. What you need to know is that even e-wallets like PayPal cannot do remittance in many regions because of local policy restrictions.

The requirements for integration with a payment service provider usually include a scanned copy of your ID, Business Registration (or TAX ID) certificate, a valid billing address and your banking information for a payout.

Are there any good merchant account service providers?

Of course, there are lots of them out there. Being the best provider, it wasn’t very easy though but I eventually found a couple of reliable and good merchant account service provider I can recommend.

Acardpay


They do not only specialize in online gaming merchant accounts but have also been really helpful to me when it comes to online payment gateways. I will say out of all the high-risk merchants account providers I have used, they are the best in the industry. Their team is the listening type and will closely work with you for the best experience when it comes to accepting gaming card payments and paying out winnings easily and securely.

They have a platform rich in dedicated gaming solution with lots of features to help your business grow fast. It will become easy for you to accept credit and debit card payments easily and securely, process repeat and deferred payments, manage refunds, pay out winnings into one easy to use and customizable platform.

If what you want is

online merchant account
merchant account for online
online credit card processing
merchant account
payment gateway or
online gaming merchant account and payment gateway
Then,Acardpay will, no doubt, be your best shot!