Chargebacks happen, right?
A porch pirate steals a package.
An incorrect shipping label sends a down comforter to Dayton, Alabama instead of Dayton, Ohio.
The customer doesn’t really like that 9-function rice cooker with a delayed-start feature after all and sends it back.
Minimizing the occurrence of chargebacks is an important part of running a successful eCommerce business. Having a high number of disputes that result in chargebacks can negatively impact your revenue and cash flow, harm relationships with your financial partners, and damage customer loyalty— which can all hurt sales. While some chargebacks may be unavoidable, you can protect your business from chargebacks due to fraud and criminal behavior by having the right chargeback mitigation tools in place.
Chargeback Management Solutions: What to Look For
The best chargeback solutions include features that are designed to reduce the number of chargebacks, improve customer experience, and optimize your checkout process. An effective chargeback management solution needs to consider your unique sales pipelines, payment options, and Customer Relationship Management (CRM) platform. It should also offer a range of services, including consulting, dispute representation, and tools to recover lost revenue.
Here are some of the most important things to look for in a chargeback management software solution:
- Dispute monitoring
- Chargeback prevention and management tools
- Easy integration with your existing system
- Tools to identify and avoid chargebacks arising from errors, friendly fraud, and criminal intent
- Transaction-level fraud filters and fraud blockers
- Tools to easily identify, track, and resolve chargeback issues and disputes
- Web-based reporting and analytics
If you’ve spent any time at all researching chargeback and fraud management solutions, you have discovered that there are many products in the marketplace, all with different combinations of tools and services and price points. But which one is best for you? Which solution offers most of the tools you want? Will you have to implement more than one solution to get everything you need? And what about contracts, fees, and pricing?
One Payment Partner, One Chargeback Management Solution
The best solution is often the easiest one, like choosing to partner with a payment processor that can manage all your payment processing needs. Cartis Payments has a full suite of payment processing tools and services designed to integrate seamlessly with your existing platform. By leveraging Elavon’s payment processing software, there’s no need to buy multiple dispute resolution and chargeback management tools; Cartis Payments provides your business with a customized payment solution that includes robust fraud prevention tools and services to help you avoid costly chargebacks.
Contact us today to learn about how our comprehensive yet affordable merchant services solutions can support all your company’s payment processing needs.