Purchasing resources for Credit Card Chargebacks

There are a myriad of reasons why consumers ask for credit card chargebacks (sometimes called "charge backs"). Some of these reasons are legitimate; for example, a person may detect a credit charge error. Or perhaps a customer dissatisfied with a product or service they've paid for may ask for chargeback services. However, a good number of return credit card charges are due to fraud.

As a business owner, there's a lot you can do to control chargebacks. Some of these things result from just doing good business. Other things may be less obvious but are easy to implement. When thinking about these business strategies, consider the following areas:

1. The main reasons for credit card charge backs

2. Measures that may be taken to prevent credit card chargebacks

3. Charge back solutions services

Know the top reasons for credit card chargebacks

The top four reasons for chargebacks are, according to Vantage Card Services, stolen cards (24.7%), counterfeit cards (23.1%), MOTO fraud (mail order/telephone order), Internet fraud (20.8%) and lost cards (14.9%). Skimming (theft of credit card numbers during a legitimate transaction) and identity theft account for most counterfeit cards, so the major reasons for all chargebacks are fraud.

Learn easy-to-follow chargeback solutions

Authorize every card and if you receive a "Call" message during the process, call your authorization center. Always obtain the cardholder's signature and ID, and be sure to disclose your return and refund policies during the transaction. Obtain proof of the card by swiping it or imprinting it on the receipt. And do be certain the transaction details are readable on the receipt, including the cardholder's signature, sale amount and your merchant name and location.

Purchase preventative charge back services

There are additional ways to prevent fraud, which not only protect you but also encourage your customers to make purchases with confidence. For example, the major credit card companies offer programs you can use on your business' website that make fraud less likely. You can also hire a company to provide fraud screening for your business' transactions.