With all of the consumer fraud and protection technologies put into place, merchants often feel like their interests have been neglected when it comes to credit card chargebacks. When a consumer falls victim to credit card fraud, the merchant is usually the one who suffers.

After all, consumers are well protected from credit card fraud. The more merchants know about credit card processing procedures, the better protected they are against credit card chargebacks. The good news is that there are many times when a chargeback isn’t the fault of the merchant.

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Preventative Measures

As a merchant, there are many preventative measures you can take to avoid credit card chargebacks:

• During payment processing, hold on to the physical credit/debit card and examine it. Verify that the expiration date is accurate and compare the signature on the back of the card to the one on the customer-signed receipt.

• Always get a magnetic stripe reading of cards in your business and make sure the cardholder signs for his or her purchase.

• Never process a transaction where the authorization request was denied.

• Don’t repeat processing on a declined request.

• Make sure all printed receipts are legible by replacing printer paper, cartridges, and ribbons regularly.

• Don’t enter transactions multiple times.

• Disclose refund and return policies at the time of purchase.

• Deposit payments in a timely fashion.

• Respond to any retrieval requests quickly.

• Use the Address Verification Service, Card Verification Value, Card Verification Value 2, and Card Identification for card-not-present transactions before accepting payment.

• Never accept expired credit cards.