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A refund is guaranteed to the customer and the entire matter is handled without incurring high fees or fines.This also keeps the incidence of fraud below the 1% threshold, thereby keeping the account in a healthy condition.If, however, you maintain a friendly relationship with the merchant banks that issue credit cards, Cunningham states that it’s possible that those banks will simply issue a refund without any fanfare and without incurring any charges, fees or fines.Communication With Customers Good communication with your customers is another critical factor in keeping your relationship with your credit card processing company on a healthy footing.If, for example, a legitimate charge is made on an individual’s credit card and this purchase is later discovered by that person’s significant other, he or she may dispute the charge and initiate a chargeback through their bank.
According to Conal, anything in excess of this 1% can carry fines starting at 0 per incident.Friendly Chargebacks and Chargeback Mitigation No matter how sophisticated your credit card processing for dating sites may be, there will always be people who try to beat the system by purchasing your service and then later going to their bank, complaining for some reason and demanding a refund.This is called “friendly fraud,” and there’s basically nothing you can do to prevent it.This is why businesses utilizing credit card processing for dating sites should have the necessary risk mitigation services in place to protect themselves from the negative aspects associated with this industry.Failure to stay ahead of chargeback problems and bank disputes so prevalent in the online dating sector can result in revenue losses, increased transaction costs and even fines.
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This can affect the 1% fraud threshold when fines start being levied.