The ability to receive credit card payments is crucial for any up-and-coming online business. Without a functional payment gateway, your customers will be limited to paying with cash or a check, which isn’t efficient in the modern age. However, taking credit cards also opens you up to a whole new world of challenges, and unless you educate yourself and prepare in advance, you won’t know how to avoid many of the common issues that online merchants face.
Problems with the Bank
Problems with your acquiring bank can lead to declined transactions or even a terminated merchant account, so it’s important to figure out how things work before you open for business. Sometimes merchants accidentally go over their monthly processing limit, which can result in a suspension. There also may be times when technical difficulties cause your bank to go down, halting your ability to do business. For this reason, some business owners choose to have multiple merchant accounts to ensure they can receive credit card payments from their customers at any given time.
Managing your merchant accounts can be confusing, so choosing a trustworthy payment gateway like Allied Wallet is your best option. We have the experience to handle everything and keep transactions flowing smoothly for you.
Problems with Chargebacks
If one of your customers disputes a purchase, the bank will undo a sale. This is known as a chargeback. To some degree, chargebacks are an inevitable hassle that any business owner must deal with. While you’ll always need to guard against fraud, most chargebacks are avoidable on the part of the business owner. If you want to receive credit card payments, learning how to prevent chargebacks will do plenty to keep your profits strong.
Practice Excellent Customer Service
A dedication to service is a required component of any thriving business, and it can also help you avoid chargebacks. Every time one of your customers cancels their subscription, returns merchandise, or otherwise backs out of your services, you will have to eat that financial loss. In today’s tight economy, strong service skills can make a big difference in whether you fail or succeed. Keep your customers happy by offering the very best.
Have Clear Policies
If you receive credit card payments online, be sure to have clear policies regarding your products and services. If you have a return policy, make sure that it’s readily available and fair to both you and your customers. Use your website to provide as much information as possible about what your company has to offer. If a customer clearly understands what he or she is about to purchase, it’s less likely that there will be a dispute later.
Have a Good Training Program for Employees
The people who you hire have a lot of power to bring success or failure to your business. Inappropriate behavior or mishaps on the part of even one staff member could harm your reputation in a big way, so set up a good training program right from the start. If everyone is on the same page, it’s less likely that a miscommunication could result in a chargeback.
Use a Secure Payment Gateway
Choosing a secure payment gateway with a strong reputation is your best option to guard against chargebacks. Allied Wallet features Fraud Scrub, proprietary software used to check for red flags that could potentially be a sign of fraudulent activity. We also offer plenty of other security features, such as 128-Bit SSL encryption, which will protect sensitive information from thieves and help you develop your reputation as a trustworthy business.
Allied Wallet: Safely Receive Credit Card Payments and Make More Money
We are proud to be a global payment gateway with a strong reputation for customer satisfaction. If you’re ready to begin taking advantage of our integrated payment solutions, please contact us today. We can’t wait to discover all the ways we can help your business thrive.