At Flutterwave, we’re committed to simplifying payments for endless possibilities and as we’re barrelling into the busy end-of-year holiday season and as we suspect, you may have one big lump of coal on your mind: Chargebacks.

Chargebacks are a costly problem—a problem that escalates during the high volume holiday shopping season and once the holiday is over, it can be the costliest season. Security is undoubtedly one thing that we take seriously at Flutterwave to ensure you stay protected as a business using our services.

We’re happy to inform you that Flutterwave is PCI-DSS (Payment Card Industry Data Security Standard) Level 1 compliant; meaning we take measures to ensure that your transactions are safe & secure.

Here’s why you need to start thinking about your holiday chargeback prevention now.

The customer might want to return a product that didn’t fit their expectations and figured that initiating a chargeback might be the fastest way to get their money back. There might be a defect in the product when supplied. They might also simply not recognize the charge on their card statement and worry that someone has made a fraudulent purchase. Or, of course, there could be actual fraud on the card which is the reason this mechanism exists in the first place.

Chargebacks almost always mean trouble for businesses. The system was designed to protect consumers, so there are only a few methods for challenging a chargeback. The challenge also requires a lot of time and fees that will affect those sales you’ve worked so hard for. The process can take months, and the odds of winning most dispute cases aren’t in the business’s favour.

So, how can you ensure that you stay protected and retain those sales even in the New Year?

Thankfully, there are things you can do to prevent a raid of chargebacks. 

1. Publish clear terms and conditions including your return policy. If you do not accept product return, state that clearly and also include it in receipts. You may also want to increase the standard return/refund policy for holiday purchases. 
2. Use 3-D Secure authentication or AVS (Address Verification System) for transaction authorisation. These frontline checks help ensure a valid transaction. 
3. Send email notification when you ship a product or give other value (in the case of digital products) and include all details relating to the transaction. 
4. Make it easy for customers to reach your team if they have a query or complaint. Quick attention to these enquiries can go a long way towards preventing fraud-related chargebacks. 
5. Communicate if anything changes. If there are any changes in your products, shipment process, return/refund policy, or an internal business process that may affect the customer, please communicate to the customer. 

We hope you understand that this is very important and you can take our advice to do the needful so you can avoid any chargeback issues or reduce to the barest minimum.

From all of us at Flutterwave, here’s wishing you a Happy Holiday Season. 🧡🎉🎊🥳