The title sends shivers down your spine, doesn’t it?
If you are an internet merchant, that is.
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Implementing Credit Card payments is not as tough a task as it may seem at a first glance.
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From the outside it may seem that online payments are easy. You just need to attach your webpage to a paying agent of your choice and swoosh, ready to go. The money just starts flowing.
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Why should an Internet merchant bother with lowering the chargeback rate? Why constantly keep the matter on the radar? (Such a nuisance!) After all – it’s just another way for the client to get the money back, right?
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Yeah, that’s possible. And in fact not so rare. The same card, similar transaction. We are able to pay for one product (on website #1), but we aren’t for another one (on website #2).
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People often ask: when is the best time to ask the customer for their credit card details? Should they ask them while the customer is signing up or maybe later?
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The most common and the most irritating error message when you accept credit card payments in your online business: “Transaction rejected by credit card company”.
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Nowadays, with constantly increasing number of online transactions and better consumer awareness (which is great!), it is important things are under control.
The cardholders are entitled to invoke a chargeback procedure. This may be carried out in the event their merchant does not perform a contract for the items they have paid for or when their card has been used for a non-authorized payment. While this option is extremely convenient and safe for the cardholders, it is less fun for the merchants to deal with such a request.
Agreed, it is the issuer bank’s duty to take this up, on the other hand, it will be the merchant who will be charged for each procedure. Unless they have strong arguments that the chargeback shouldn’t have been initiated in the first place.
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You can try to minimize the risk of chargebacks and it’s surely recommended and worth doing. But it is nearly impossible to completely avoid them. Chargebacks just happen. Even if you never make any mistakes, your deliveries are on time and your policy is absolutely transparent – chargebacks are a matter of time. The good news is that you can defend against them, especially if you have done nothing wrong and the chargeback request was uncalled for.
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If you want to accept card payments with a mobile device, you’ll probably end up with Square or one of similar solutions (mPowa, iZettle etc.) – that’s what the search results will give you. But ask yourself, do you really need and want to set up a new account and attach a piece of hardware every time someone pays you?
Is this really the only solution?
Well, it depends.
There are alternatives, but whether you should use them or not – this mostly depends on your business type, its model and needs. It’s quite different if you want to accept payments in a single restaurant, a chain of restaurants, if you deliver goods to your customers or sell both online and offline.
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