Category: Finance

Investing in the Cryptocurrencies Airdrop 0

Finance

February 2, 2021

Investing in the Cryptocurrencies Airdrop

1,236 ViewsOne way to make the most of your cryptocoin age is to learn how to buy and sell Cryptocurrency with the help of The cryptocurrency Airdrop. Airdrop is an automated trading platform that...

Unwarranted credit card chargebacks — known as friendly fraud — likely cost e-commerce merchants over $25 billion by the end of 2020. Not all chargebacks are fraud but it can hit honest merchants’ bottom lines hard if left unchecked. What is a chargeback? Let’s take a look at what it means and what you can do to avoid them. What Is a Chargeback? A chargeback is the reversal of a charge on a buyer’s credit card but instead of coming to you for a refund, they go directly to the credit card company. To initiate a chargeback, they need to claim some sort of fraud by you, the merchant. This could be any number of things, including: • They never received the product or service • The product was not what they paid for • The charge was never authorized Why Credit Card Companies Allow Chargebacks Chargebacks are meant to keep merchants honest by providing consumers a way to recover their money if a shady company doesn’t deliver what they paid for. They also protect consumers whose credit cards are used fraudulently. When Should a Buyer Initiate a Chargeback? A buyer should only initiate a chargeback in the case of a truly fraudulent transaction, such as the situations listed above. Chargebacks should never get used as a way to get a refund for a legitimate purchase. There are two major problems with this kind of “friendly” fraud. First, if they did receive the product or service they paid for and request a chargeback, the merchant could end up with nothing. The payment they received gets refunded to the buyer and the buyer doesn’t need to return the item they bought. Second, most credit card companies charge a significant chargeback fee to the merchant so they’ll be out even more money at the end of the process. Tips for Preventing Chargebacks There are several precautions you can take to reduce chargebacks. First, provide buyers with a fast, easy way to request a refund of their purchase. The more difficult the process is and the more time they have to spend on it, the more likely they are to go straight to a chargeback. Next, make sure you have good documentation for the entire sales process. You want to be able to verify the item purchase was actually delivered and the correct buyer received it to avoid potential chargeback fraud. Third, don’t ignore chargebacks if you receive them. Credit card companies have a chargeback cycle that includes an investigation of the claim. Part of that process is gathering information from the seller. If you ignore the claim, the credit card company will almost always process the chargeback for the buyer. Once it’s processed, you’ll have a hard time reversing it. Don’t Let the Threat of Chargebacks Stop You From Accepting Credit Card Payments Now that you’ve got an answer to the question, “What is a chargeback?”, you might think it’s more risk than it’s worth. While cases of friendly fraud do occur, the benefits of accepting credit card payments outweigh the risks in most cases. Be sure to check out the Business category on our website for more helpful articles about running a small business. 0

Finance

January 4, 2021

What Is a Chargeback? A Business Owner’s Guide

6,328 ViewsUnwarranted credit card chargebacks — known as friendly fraud — likely cost e-commerce merchants over $25 billion by the end of 2020. Not all chargebacks are fraud but it can hit honest merchants’...

Transfer Money to India Online 0

Finance

December 22, 2020

Valuable Safety Tips to Transfer Money to India Online

1,165 ViewsWhile online remittance service providers do their part by taking multiple security measures, customers should also know the basic safety tips for securing their transfers. Some useful safety tips for online transfers to...

A Unique Kind of Interest of People Today 0

Finance

December 18, 2020

A Unique Kind of Interest of People Today

1,453 ViewsMany people today have different interests. It is not a questionable thing because we have a different background, upbringing, and even the kind of run of our mind. These are just some of...

Preparing Your Store For the Christmas Season 0

Finance

September 5, 2020

Preparing Your Store For the Christmas Season

1,718 ViewsExperienced retailers will understand that to get the most out of seasonal trade businesses must adapt themselves. This encompasses more than simply adding extra and temporary employees to the rota because no matter...

2020 Earnings of the AvalonBay Communities 0

Finance

August 22, 2020

2020 Earnings of the AvalonBay Communities

1,436 ViewsDuring the second quarter of 2020 earnings conference call, the AvalonBay Communities, Inc. answered a lot of questions. There were some uncertainties associated with the answers, and the results were quite different.Various discussions...







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