Chargebacks have become a growing problem for ecommerce companies. In fact, credit card chargebacks are rising at a rate of 20% each year.
Statistics show 40% of consumers who file chargebacks will do so again within 60 days. And 50% of those people will file another one within 90 days.
Banks and credit card companies make it easy for their customers to dispute charges on their accounts. Ecommerce companies are paying the price for this behavior.
Those of you who have an ecommerce shop know what I’m talking about. I’m willing to bet you’ve had to deal with these situations in the past.
They are a real pain, to say the least. On your end, you thought you did everything right.
A customer placed an order online. You fulfilled the order and got paid.
Only later, you see that the transaction was nullified. You probably weren’t even notified of this chargeback until after the fact.
What happens now? Why are you being punished for fulfilling an order? How far do you need to go to optimize the customer experience?
Chargebacks have become a hot topic lately in my consulting work. And nobody seems to know how to handle them.
That was my inspiration for writing this guide.
First, I’ll explain what you need to do once a chargeback has been filed. Then, I’ll show how you can prevent this from happening again in the future. At the very least, you’ll be able to minimize your chargeback rates moving forwar… Read More