Chargebacks are an inseparable part of running an e-shop and accepting online payments. However, there are certain steps you can take to minimise the risk of getting them, so take a look at the following list and protect your business from potential loss.

Information

1. Remember that clear information can save you a lot of money and trouble.
2. Make sure that you provide your customers with all the possible contact information.
3. Your contact details such as a physical address and a telephone number should be clearly visible on your website.
4. Provide accurate descriptions and images of your products.
5. Use a clear DBA (Doing Business As) name that customers will recognize.
6. Put your phone number on your customers’ statements. If they do not recognize your DBA, they can call you to find out who you are and why you have charged them.
7. Be clear with your return policy, as well as your shipping policies. Make sure that customers read the policies before their order can be processed.

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When applying for a merchant account, you’ll be asked to fill out a merchant application. The application is typically standard across most merchant service providers with regard to the information collected on the application.

In addition to the application, you’ll be required to provide support materials as they relate to the business and owners. Required merchant account support documents are as follows:

• Business organization documentation
  • Business articles of incorporation
  • Or Non-Profit documentation
  • Or Sole Trader documentation
• Company Directors’ proof of identity
• Voided business check
• Business or applicant financial documentation
  • Previous processing statements
  • Or business banking statements
  • Or owner(s) personal banking statements

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