2TouchPOS and the Chargeback FEVER!

2TouchPOS Working for you to keep your money SAFE!

Keeping track of your charge payments and payment processes is becoming routine for business owners.  Monitoring your bank account balances is a daunting task, but now that consumers have the ability to dispute charges; more and more businesses are left “Holding the Bag”.  Chargebacks can happen when a customer claims that they did not get what they paid for.  A consumer can get their money back after a purchase simply by calling their bank or a Credit Card Dispute Agency; explaining the circumstance and then if the bank agrees or finds cause, the money is given back to the consumer.  This means that YOUR customers may have the ability to reverse a charge for a tab that you thought was paid for.  I was reading some articles on the topic as I continue to be concerned for our 2TouchPOS customers.  Take a look: Chargeback Article.

This concept is beginning to really hit establishment owners in the restaurant industry.  I’ve been concerned for our customers since the EMV Chip Card Technology was rolled out,  as the dispute process has been made simpler for consumers. Don’t get me wrong;  there are some situations where a chargeback is warranted, however it is becoming common practice.  This process of returning money to the consumers after they have spent an evening in your establishment weighs heavily on the owner or merchant who is now responsible for ensuring that guests always get what they pay for or; they will end up responsible.  

Chargebacks are becoming big business and I am sure that this trend is not going away.  At 2TouchPOS we have been working diligently to ensure that our recommended payment processing company has prioritized shifting liability through their fraud prevention practices.  Payment Processing Companies act as the middlemen between banks, merchants and the consumer.  As middlemen your payment processing company is partly responsible for collecting funds from the consumer.  With the right payment processor your liability becomes a shared responsibility.

Sometimes we get a call from a prospective customer who wants to save money using a payment processor that has not been fully reviewed through the 2TouchPOS Process.  In the long run we want to please our customers and we do what we can to help our customers get what they need to make payment processing affordable and to keep our customers safe from fraud.

So we have suggestions that may assist our customers and our future customers! Right now in the restaurant industry there is a BIG PUSH to create a customer experience. To ensure the customer gets what they pay for make sure that there is consistency in the preparation of your menu items, drinks and most importantly service. Now more than ever, YOUR Front of the House Staff HAS to be “ON-POINT”! If you have entertainment they must start on time, and play as long as you have advertised.

In the meantime watch your accounts, if a dispute is initiated tell your side of the story,  and work with your payment processor to avoid chargebacks. 

Push yourself to follow your sales history; monitor your credit card activities, keep an eye on your transaction history, and manage your business by making sure the ‘Right Staff’ have your back. Watch your profits increase through sound business practices and never ‘over promise’. If you need any assistance with your reports or are having trouble finding information that you need, let us know. We can help. Contact us!   

 

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