Chargebacks happen when a cardholder asks their bank to reverse a credit card charge they’ve made.
When a chargeback is filed, a fee between $20 and $100 is deducted from the merchant’s account.
To avoid chargebacks, be clear about product and service descriptions, have understandable refund policies, well-outlined shipping expectations, and great customer service.
Companies work hard trying to give customers what they want while still being able to profit. Large companies such as Amazon and Walmart offer free shipping and returns that consumers now expect from retailers. In a survey, Shopify found that 80% of consumers expect free returns, and if they were charged a restocking fee, 71% would not purchase from that retailer again.
As consumer expectations and instant gratification becomes commonplace, e-commerce businesses must also adapt. unsatisfied customers initiating chargebacks, will hurt your business, causing higher rates or your account being dropped by your processor.
A chargeback differs from a refund; a refund is when money is returned directly from the merchant, a chargeback is handled by the card issuer.
Customers can request a chargeback for many reasons. These are some of the most common:
Customer not receiving the product or service
Description of the product or service was not accurate
Product being damaged or lost during shipping
Recurring billing was not canceled as requested
Issue with duplicate billing
A technical error
Some of the above scenarios such as products that are lost or damaged during shipping, may happen outside of your business control, however … Read the rest
Traditionally, business planning has been carried out for periods of one year or more. But in the past, the commercial environment was not changing as quickly and a 12 or 24 month plan was appropriate. Today the situation is different. The plan must reflect the changing commercial, financial and industrial environment. Changes are taking place at an ever-increasing rate. This means that businesses today have to be much more nimble and responsive to the changes in the marketplace and the needs of the customers. Furthermore, changes in technology can mean that today’s equipment is obsolete tomorrow. We recommend that businesses write their plan in 90 day cycles. This is a reflection of the current environment. Annual plans are normally written and filed. They are dusted off and rewritten for the next financial year. We suggest that a business plan is a dynamic document that is an integral part of the enterprise not a vague hope for the future. A good plan is not only a Encode management tool and a sales tool but a plan for the direction of the organisation. It is a valuable management tool for development, expansion and on-going operation of your company. It is also essential when you are promoting your organization to investors and lenders.
Writing down the direction of the company through the plan for the next 90 days allows the leader to explain to his or her team the reasons for decisions about the future. This means that the whole organisation can be … Read the rest
You’ve most likely heard or seen the advertisements for those organizations that state “Mac Home Development!” These organizations guarantee to offer money for houses in “as seems to be” condition, without any charges and none of the bands to bounce through which are related with a conventional land exchange. Look at Sell my house fast jacksonville for more information about trusted house buyers in Jacksonville, FL.
The primary inquiry to come into the brains of numerous imminent dealers is, normally, is this unrealistic? Particularly in the present not terrible, but not great either land advertisement, it’s entirely expected to be wary. So here are a couple of realities about the “Mac Home Development” individuals that each imminent merchant should know.
“Mac Home Development” Companies Are Real Estate Investors
At the point when you offer a house to an individual, you are normally managing somebody who intends to live in the structure. That implies that it must be in decent shape and stylishly satisfying to planned purchasers on the off chance that you need to sell it at a decent cost. In opposition to this situation, “Mac Home Development” organizations are ordinarily illustrative of a land speculation gathering.
This significant contrast evident here is that somebody purchasing land as a venture likely has the devices and intends to make the essential auxiliary and additionally corrective enhancements to the property. A speculation bunch has an alternate arrangement of aims than a private purchaser does, and along these lines takes a gander at … Read the rest