We are seeing disputes on the increase recently, which is why we want to bring up this subject and provide info to help protect your business.
Although chargebacks and disputes are an unwelcomed part of business operations, you can minimize the chances that you’ll be impacted by this growing hazard. Using a “broad brush”, there are four basic reasons why a business might see a dispute/chargeback. 1. Services not provided or merchandise not received 2. Services or product not as described or defective 3. Credit Not Processed 4. Cardholder Reports Fraud There has been much focus on the Coronavirus - Covid-19 and the long term effect in the future of business. This is particular true in the restaurant space. A phases mentioned many times is “the new normal”. Even with a vaccine it is hard to say with certainty what the future holds.
For restaurants it is important to have a system in place for delivery, curbside, and takeout orders. They are essential to the customer experience, and to restaurants seeking new revenue channels. But how many restaurants have been shut out by the big meal delivery services because of exorbitant fees? And for the restaurants paying those high fees, how long can they sustain it? Most people know that money isn’t clean but they also forget that their credit cards pass through just as many hands as the dollars and coins in their wallet. Likewise, the many touchpoints on a terminal—such as inserting a card, entering a PIN, and signing—heighten the need for a cleaner payment experience. Luckily, with contactless payments, proper sanitization, and other helpful tips, a cleaner way to pay is possible.
As a business owner in the midst of a global pandemic, it is now more important than ever to offer and promote contactless payments to reduce physical contact with payment terminals. As mentioned, you need to promote contactless payments with signage. This is good for you, your employees and your customers. Contactless pay doesn’t just limit the credit card’s exposure to payment terminals in the checkout line, it also reduces consumer contact. In the news we hear of security breaches from large retailers that credit card data is exposed and thus stolen. This data is then posted on the dark web to be sold to others that will try and use these credit card numbers for fraudulent purchases. Not all of the credit card numbers are still valid and usable. The fraudsters will go or call an unsuspecting business looking to purchase expensive items that can later be fenced and converted to cash.
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Point of sale (POS) credit card processing solutions in Atlanta, GA Archives
February 2024
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