How your payment data can improve your business
- 9월 08, 2017
- by
How your payment data can
improve your business
Minimal chargeback
While product returns are bug bugs for all retailers, fraudulent payment rejection is even more dangerous.
As a result, retailers need to improve customer profiling and satisfaction systems and thoroughly analyze chargebacks and withdrawal trends.
Rather than simply following a formal return policy, retailers should dig deeper into the problem and find the reason for the chargeback.
Retailers can minimize dissatisfaction by lowering the chargeback rate and improving the accuracy of product descriptions by returning revenue to customers as easily as possible and by clearly communicating policies.
Before the peak shopping period begins, the retailer must be confident that his back payment process, handled by the merchant buyer, is stable, smooth and fast.
Although the retailer's payment process can be performed perfectly well throughout the year, pressure in times of peak usage can have a negative impact on performance.
The retailer must ask the buyer's buyer the following four questions:
1. How can I determine how the system can handle transaction volume fluctuations?
2. How fast is transaction processing?
3. What steps have been taken to ensure that the payment information is secure?
4. What is the fraud resolution process?
Obviously, retailers have a lot to consider in a busy time.
One of the most important is having a strong and resilient payment process.
Merchant buyers must be able to handle all types of transactions that customers use and be able to react to business peaks.
Retailers should use the increased duration of activity as an opportunity to identify the weaknesses or drawbacks of the payment infrastructure.
Working with merchant buyers to solve problems in this way can help you prepare for the next high demand period.
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