Success with Chargebacks!

• 

  Why did the bank take my money! 

Chargebacks are a forced transaction reversals initiated by a cardholder's bank. In other words, one of your customers were unhappy for any reason, they did not get satisfactory results when they came to your company for resolve and therefore submitted a request to their credit card company to get back their money! This mechanism is meant as a consumer protection mechanism against merchants who might be tempted to sell sub-par products or services. Merchants are forced to be more transparent in their dealings with their customers for fear of getting a chargeback. This is NOT to say that today, many customer are abusing this mechanism just to get stuff FREE!

How can I protect my business from Chargebacks? There are several things you can do to prevent disputes and chargebacks from happening:

• Provide your contact information everywhere. Buyers may not resort to a dispute or chargeback if they can talk to you about the problem. 
• Good Customer Service is a MUST for not getting disputes and chargebacks
• Be responsive. No one likes to wait! Make it a habit to respond to a problem within 24 hours. Allowing an issue to fester into a bigger problem, pushes customers to resort to legal matters like chargebacks.
• Suggest Dispute Resolution - compromise. Find some middle ground or look at the big picture....how will this disgruntle customer talk about our company to others. How can that negatively impact our business?
• Provide a clear return policy. Make sure it is visible EVERYWHERE! We suggest at the bottom of every page on your website. That the bottom of your receipt and of course something written right next to your check-out area of the store. 
• Leave nothing hidden and you will find yourself better covered. The more transparent you are the less costly chargebacks your company will get.

What happens when I get a chargeback? 

• Your customer has written a letter to their credit card company with a complaint about their purchase. 

  Wrong product sold

  Damaged product on delivery

  Fraudulent use of customer's credit card

  Tried to return merchandise to company but issue was not resolved.

• You get a chargeback dispute in the mail.
• You have 14 days to respond to this dispute letter with corresponding paperwork. 
• If you prove that you had visible Refund/Exchange Policies, that your product was not damaged or sent wrong, you may be able to win your dispute. 
• Most merchants don't even open their mail prior to the 14 days to know they had a chargeback! 
• Many do not have Refund/Exchange Policies visible EVERYWHERE and lose their disputes. 

Lastly, taking credit card information over the phone is VERY RISKY! Are they who they say they are? Is it their own credit card? Many merchants think that if they send out a Credit Card Authorization Letter for signature, they are covered....YOU ARE NOT! In order to win your dispute, you will need Photo ID from the customer, a picture of the credit card along with the Authorization Letter. If you key-enter into a machine, make sure you click on CARD NOT PRESENT. By saying the card is present, you run the RISK of having your dispute denied due to the fact that you lied by saying the card was present! 

We highly suggest that if the customer is not present that you refer the client to purchase online at your website. Your website can have VERY STRICT guidelines to help prevent fraud and potential chargebacks. The client inputs all their data and no member for your company is taking that information manually and putting it into a machine or Virtual Terminal. If it is a large priced sale, we highly recommend that you use ACH Accounts. 

Merchant Processing Solutions Inc has been highly successful in helping our clients mitigate their chargebacks. We ask our merchants to contact us if they get a chargeback so we can help them review the dispute and prepare their defense. Many times with the right paperwork, the dispute is favorably resolved for the merchant. 

We had a large client that was getting more than 25 chargebacks a month during their busy season. We found out that they were accepting credit cards wireless terminals that were cutting out constantly. This created confusion as to whether the transaction actually went through or not!! We suggested hardwired Internet terminals in to their multiple locations. The transaction began going through seamlessly and not duplicate transactions were being create. This merchant went down to less that 5 a season!! 

Testimonial: 

Yamilet, Claudia and Stephanie are the most dedicated customer service people I know. I make a phone call and get results! Recently, I had a customer dispute a large transaction. My "no nonsense women" reviewed my dispute documents, told me what I needed to provide and helped me get those submitted to the right people. Within a couple of days, the money was returned to my account! 

I love working with Merchant Processing Solutions they do everything and go above & beyong to make sure their clients are happy.  I can reach them at any time and I feel their smile shining through the phone as if they were right in front of me.  They are extremely reliable and passionate about what they do and I will support them always.  Merchant Processing Solutions is great to know and work with.  I would not trust anyone else with my merchant account.

Marj - Jus HipHop

 If you want a merchant processing company that cares this much about you and your business....call us today!     954-938-2420      

Who is my target audience? B2C, B2B, B2C, or B2G?

Many merchants are set up to accept payment from ALL Consumer Type Credit Cards! But what if you could get lower rates because you ONLY do business with other Businesses!! 

B2B Payment Acceptance

Business-to-business (B2B) is a business model that focuses on selling products and services to YOUR TARGET MARKET; other companies not consumers. Think of yourself as a support company that helps other companies succeed through your products and services! A B2B focused company is going to be successful, if they develop strong customer service, loyalty and create meaningful change in their customer’s business. 

• Strong Customer Service: When are my customer's open? Can I be there to keep their doors open? Do I help them be self sufficient? What do I need to do to make sure THIS CUSTOMER is not turning customers away?
• Loyalty: Have I created enough VALUE for this CUSTOMER so that he is loyal to my company? Does my customer feel that our company cares about them and want to make sure they succeed? Can I create reciprocal loyalty by purchasing their product and service?
• Create Meaningful Change: Does my product and/or service create enough synergy for my customer? Does it make a difference to the way they do business or create their business?

The companies you provide product and services to, are just like your company! They have employees to train, customers to satisfy, facilities to maintain, rules and regulations to abide by and all they really want; is to grow their business! By putting yourself in their shoes as a fellow business person, you can be a great asset to a new and existing business. You might also be working with several companies in the same industry. You get to see what works and what does not to help you create a viable niche within that industry. You can determine how valuable your product and/or service is to your target market.

However, In order to grow your business based on other businesses, you have to be accommodating with accepting payments. You will possibly need to accept checks, direct deposit, wire transfers, and of course credit card payments. Did you know that business credit card rates are higher than consumer cards? And I am not even referring to American Express which currently is less that some MasterCard and Visa Business Cards!!! Business are unaware that they can do something about the high rates of business cards, they can be set up with B2B Merchant Processing and start paying less! 

With the Merchant Processing Solutions Interchange Optimizer Software, you can be
confident that the credit cards you receive are qualifying at the best possible rates for all B2B, Purchasing and Corporate cards. The software identifies the proper data fields necessary to meet government contracts at an affordable rates! So whether you are a B2B or Government vendor, get set up with low rates for credit card payment acceptance!

Merchant Processing Solutions Inc! 

Call us today! 

954-938-2420

Increasing your business via Rewards Program

Merchant Processing Solutions Presents Real Rewards +

• Real Rewards Plus gives you a platform to engage with your customers 
• Real Rewards Plus supports e-gift cards for you or to send to family & friends
• Real Rewards Plus offers in-app messaging and promotional content.
• Real Rewards Plus allows fast food & restaurants to text their menu and customers can order from there and pay for pick-up via the Express Orders component!
• Real Rewards Plus offers a Loyalty Program - after so much money or visits, your customer can receive free or discounted merchandise.
• Real Rewards Plus will boost your sales by bringing back customer to increase their points for more purchases. 
• Real Rewards Plus allows you to CONNECT & ENGAGE with your customers via Push Notification Campaign right to their phones, no need for them to download another APP! 
• Real Rewards Plus is an affordable service @ $19.95 per month plus cost per text. 

Don't miss out on a chance to increase your sales & grow your business...

Call Merchant Processing Solutions today and ask about our Real Rewards Program!

$$  954-938-2420  $$