The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Chargebacks

MidwestLandlord

Legendary Contributor
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
759%
Dec 6, 2016
1,479
11,226
How can fight our chargebacks and win at least 98% of chargebacks?

Why?

It's a cost of doing business.

Do you have a lot of them in your business? Is there anything you can do that better explains your product or service so you have less chargebacks?

In my B&M business, I get a lot of chargebacks. I think my record is around $3,000 in a single month. It's easy to defraud me in this B&M business with legitimate card charges that are later disputed. Plus I operate in some shady areas that just naturally lead to more fraud (and shoplifting)

I just informally add it to my cost of goods sold and keep it in the back of my mind that credit card processing fee's and chargebacks increase my costs (currently my CC fee's and chargebacks add 2.141% to my COGS)

I could get butt-hurt and defensive, try like hell to not get ripped-off from these bloody a-holes that defraud me...

or

...I can concentrate on taking care of the awesome customers I do have that pay me like they should (which are the vast majority)

Do what you can to educate your customers about your product or service so that you reduce chargebacks from confusion. (good copy, good pics, etc)

Other than that, don't sweat the small stuff.
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
445%
Jul 23, 2007
38,079
169,496
Utah

Because the user is attempting to be duplicitous advocate. He/she comes from a charge-back prevention firm and was expecting to return with his own links to his own solution, while trying to appear objective.

Nope, the jig has been cancelled.
 

ThirtyOne

Bronze Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
149%
Jul 18, 2017
191
284
37
Los Angeles
Because the user is attempting to be duplicitous advocate. He/she comes from a charge-back prevention firm and was expecting to return with his own links to his own solution, while trying to appear objective.

Nope, the jig has been cancelled.
haha +rep to you sir for the "BANNED" label forever engraved on the fake's profile
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top