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Tools Merchants Can Use To Reduce Chargebacks

January 22nd, 2011 Posted in Computers

If you are an online merchant you have already dealt with dozens of cases of credit card fraud and unsubstantiated chargebacks. Whether you are dealing with brazen crooks or unethical consumers, the future of your relationship with your credit card processors hangs in the balance. Having too many chargebacks in a short period of time may leave you unable to accept online payments at all. Out of all of the security measures that you can put into place using electronic signature verification will help you to stop fraud in its tracks. New technologies have made it virtually impossible for thieves to get away with online fraud when they come up against digital signature verification. Unlike systems that were used in the past, you can have your customers electronically sign for their purchases whether they are at their home computers or on the go. This will enable you to avoid costly additional expenses related to identity theft.

In addition to electronic signature verification you can also use other technologies to get your customers to sign up for recurring charges. If you offer a service and your customers want to do business with you for months at a time you can have them sign up for a service that will allow them to pay bills at the same time each month. Instead of manually sending out reminders each month your clients can automatically have their credit card on file debited, or they can sign in and authorize the payment at a time that is convenient to them. As a business owner you have other things to worry about, so use these technologies to help you manage your time better. Avoid chargebacks and other forms of fraud and you can be sure that your credit card merchants will continue to do business with your company in the future.

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