chargebacks
Making Painful Chargebacks a Thing of the Past
Larry Mogelonsky | April 22, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) In a socially distanced world, one thing we are already seeing is far fewer in-person credit card transactions because people aren’t out and about nearly as much. A lot of that traffic has moved online while some of it has shifted towards other types of less secure, card-not-present dealings like taking down a guest’s information over the phone. During this downtime we all find ourselves in, now is your chance to implement the necessary updates to ensure your payment channels are as secure as possible, while also reducing chargebacks wherein the credit card companies usually don...
What Are Chargebacks Costing Your Business?
Confirmed | December 22, 2015
Tired of doing the math and eating the cost of chargebacks? We had a feeling. There's nothing that can ruin your day like a chargeback from a customer's credit card. Invalid information, expired card or insufficient funds; these dreaded words can turn a profitable event into a time-sucking financial nightmare. Losses are not only incurred by the loss of payment, but most banks will charge an administration fee of $25 to $100. Even with one chargeback a week, that can be a $400 monthly loss to bank fees and up to thousands of dollars lost to non-payment. Whether you are a small company or large organization, these losses can add up quick...
