Because of the COVID-19 crisis, chargebacks have become a nightmare for many e-commerce merchants. Is your chargeback almost 1%? How can you fight this situation? Who can help you with exceptionally high risk ACH processing? Just read below to know.
When Chargebacks Are Reaching the Dreaded 1% Mark
Companies have appeared in a struggling situation during the last months. On the one hand, the supply chain has been disrupted, thus creating problems for timely product delivery. On the other hand, people have been staying at home because of the lockdown, thus being focused only on buying only essentials.
The lockdown has made chargeback rates go higher. Lots of customers are cancelling orders and requesting refund. And that’s because they’re interested in spending less money and purchasing only essential items.
So, it’s no wonder that e-commerce merchants are in a struggling situation because of COVID-19. By the way, supply chains have been impacted more dramatically than any other operation in a business.
How to Fix the Situation? Where to Find High Risk ACH Processing?
If you’re interested in bringing down your chargeback rate, focus on managing the increase in sales and high demand. Don’t forget to let your customers know that COVID-19 will cause a delay in their orders.
Before discussing what you can do in this situation, remember that it’s more critical than ever to work with a respectable merchant services provider in your field. With a true payment expert in the U.S., you can get fast and easy access to the safest and cheapest merchant services, including high risk ACH processing. Also, you’ll be able to fight fraud and mitigate chargebacks successfully.
Here’re steps to take to reduce chargebacks:
- Make sure your logistics company is doing its best to give delivery confirmation
- You can benefit from the relaxation on chargeback dispute process
- Be in good relationships with your bank and payment processor: they can help you greatly
- Take advantage of anti-fraud tools used by acquirers
- Put a limit on the order size
As you see, chargeback rates are now a huge problem for many merchants running a business on the internet. The reason has to do with the COVID-19 crisis. To get out of this situation, take the right steps and work with a true payments specialist.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and can best help you with high risk ACH processing. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie on his backyard porch, as should all right-thinking people.