Chargeback dispute management specialist, Chargebacks911, has elevated guidance for merchants seeking to take actionable steps to prevent chargebacks filed against their businesses, with the launch of its latest ebook, “50 Insider Tips for Preventing Chargebacks”.
The company has launched the ebook at a time when all industries have seen a sudden increase in chargebacks due to the COVID-19 pandemic. During initial lockdowns, businesses across all sectors moved into the online space in order to survive – and an increase in online spending usually results in higher rates of online fraud and chargebacks.
Consequently, the bustling online space is now fertile ground for payment disputes and some industries are experiencing 10 times the amount of chargebacks than before the pandemic.
Chargebacks911’s COO and Co-Founder, Monica Eaton-Cardone explained: “Changes to commerce brought on by the pandemic are likely here to stay. We expect the heightened levels of chargebacks to continue as customers are more comfortable than ever shopping online, while companies new to the online space are embracing their digital capabilities. With this ebook, we aim to provide businesses with the tools necessary to manoeuvre around the new digital environment.”
The ebook will allow merchants to benefit from the insight and experience Chargebacks911 has by highlighting key errors merchants have made – and continue to make – when providing services to their customers that result in chargebacks, along with advice about rectifying these issues.
This includes guidance on bolstering customer service efforts to ensure buyers are happy, improving communication with customers to make sure there are no misunderstandings, revisiting policies and procedures, and best practices for marketing products online.
At the same time, the ebook reveals today’s key fraud trends that can result in chargebacks. It explains what preventative measures must be taken against criminal fraud in order to reduce payment disputes. It also tackles the issue of chargeback fraud, also known as friendly fraud – which accounts for between 60 and 80% of all payment disputes.
The ebook is free to download and can be accessed here.