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Some ways to prevent chargeback frauds!!!

Today’s business largely depends on the electronic mediums of payments. People prefer online shopping now because it saves time and they can choose products from the wide range of collection. While making any transaction, people have to pay through the electronic cards. They use a credit card, Master card, Visa card, etc. for purchasing. People who visit the shop physically also use these mediums to pay all the bill. Nowadays none wants to carry cash along with them.

To run the business smoothly, you have to accept these payment methods. But these methods are not all time safe for the merchants due to many reasons. One of the primary reason is chargeback risk. If you make any fault of recognizing the dubious card which is used for the fraud, you have to give the full amount back to the customer for his loss. So this chargeback is actually a barrier to making profit in the business. So you have to take necessary steps to recognize this fraud instantly. You can see other cards and Master card chargeback information online guide for preventing the actual fraud.

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As a merchant or businessman, while accepting payment through these electronic cards, you should be careful. You can take precautions in the following situation:

You should be alert when a customer buys the same type of things forms your shop. You should be careful when they are buying something expensive. Customers who make abnormal transaction just at the time of opening the shop and at the time of closing are dubious. You should be extra careful while dealing with them. Remember you should only stay vigilant regarding these matters. It’s not necessary people who are buying the same type of expensive things are frauds.

You can also recognize the fraud by simply checking the abnormalities of the credit or debit card. Few things you should be taken into your consideration when you are accepting payments through these electronic cards. These are:

You should not receive any expired cards for settling any transaction. If any card seems broken or the number of the cards are fade, you shouldn’t accept the card. You should also match the customer sign in the credit card with the sign of the ID. If the sign is mismatched, you shouldn’t accept the card. After entering the card into the machine, if any written notice flashed on your screen like a call center, you should immediately call the call center and know the details about the card and the cardholders. Without these things, if you have the slightest confusion about the card, please do not accept the card.

Following these little precautions while receiving the payments through the card, you can prevent the chargeback losses into your company. You just have to be careful about your behavior with the customers. Your customers should not feel awkward while you are checking all these.

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