Do you know who sufferer is due to chargeback between the retailer and a consumer? Well, both of the parties can be the sufferer, but most of the time a retailer have to count more loss on their business due to the chargeback issues. Customers may issue a chargeback for various reasons. Identifying the fraud among the thousands of customers is tough. A client should know the exemplary procedure of chargeback. They should be careful while buying things or having any transaction. Most of the times consumers face loss due to the fault of the other parties. If any situation has arisen where you don’t understand or recognize the actual transaction, you can issue a chargeback against the other party. You can go through the MasterCard chargeback guide to know more details about the chargeback procedure.
In this article, we will discuss how a retailer or marketer will deal with the chargeback issues. If you are new in the e-commerce business, you have to be more cautious from the fraud. The fraud adopts much procedures to make people fool. Sometimes customers intentionally harass the retailer for their ill benefit. To deal with all of them and save your business from losses you can adopt certain things which will be proved as a savior for your business. Here is a small guide how you can prevent all of this as a retailer:
To prevent the cashback frauds you have to be aware of the certain facts. For the credit card payments, you have to monitor the both sides of the cards. Your cashier should be well trained up and has the capabilities to understand basic capabilities of fraud recognition. When a customer pays with the credit card or MasterCard, he should look at the front side of the card. Mainly he should check the embossed number of the cards if the numbers are placed in a right manner or not. Potential frauds usually remove the last some digits of the card and put other numbers manually. They do this thing following many procedures. So when your machine does not swipe the card, you should stop there and check the card correctly. You shouldn’t input the number typing manually. In this way, you can prevent the fraud in the very initial stage.
In the next step, you should look at the backside of the card where the signature is printed. Matching the signature while paying through the card after buying a product is paramount. If any of the customer show unwillingness to sign on the slip, you should encourage them to sign. Frauds actually remove the sign stripes from the card, and if you are aware of the facts, you can recognize the scams very easily.
So these are two methods of preventing loss of the retailer. If you as a retailer is aware, you can stop the chargeback from the consumers.