3 Tips to Reducing Chargebacks
2. Use a web-based CRM program. This usually provides auto-responder options for sending emails based on a predetermined schedule. If your business engages in recurring billing models, this option is highly encouraged to curb chargebacks. A major reason for customers turning to their bank to cancel a subscription or obtain a refund is due to lack of time. The easier you make it for your customers to contact you, the less likely they are to seek other means for assistance.
Monica Eaton is the founder and CEO of Chargebacks911 and Fi911, as well as Chief Information Officer of Global Risk Technologies. Monica has worked tirelessly to educate merchants and financial institutions about hidden threats in the rapidly changing payment fraud landscape. Leading Chargebacks911, was founded in Tampa Bay, Florida, expanding internationally also to become Europe’s first chargeback remediation specialist to tackle the chargeback fraud problem. In ten years, Chargebacks911 has successfully protected more than 10 billion online transactions and has recovered over $1 billion in chargeback fraud.
Recognizing that the impact of chargebacks goes beyond merchants, Fi911 provides unrivaled support to financial institutions with innovative back-office management technologies. Fi911’s pioneering DisputeLab™ tool streamlines chargeback management for acquirers, automating legacy processes and standardizing methods that simplify and speed the end-to-end workflow, improving the customer experience and accountability for all stakeholders.
Monica is a passionate diversity advocate committed to developing and sharing innovative solutions that empower the global fintech space. She has earned numerous awards, distinctions and special recognitions, including the Retail Systems Awards, where she received the ‘Outstanding Individual Achievement Award’ and was named ‘Global Leader of the Year’ at the Women in IT Awards.
