A credit card transaction is not a guaranteed transaction. That is to say that the cardholder can carry out a so-called chargeback via their bank. If your consumer's bank accepts the chargeback, the money will be reclaimed. We do our best to prevent fraudulent transactions and chargebacks. We also expect the same from you. There are a number of things that you can pay attention to.
Save your documentation
Make sure you are able to proof that your customer received their products. Try to only use delivery services that require a signature from your customer. Save this documentation along with the invoice and any contact you may have had with your customer.
Make sure you are available
It may sound obvious, but always make sure that you are available as a company. This creates a feeling of trust with the consumer. Are not you always available? Then a customer is more inclined to reverse the payment.
3D Secure payments
3D Secure payments are credit card transactions where the cardholder must enter not only the card number, but also a code or password. This avoids the chance of fraud (transactions carried out with a stolen card). At Mollie, every customer who has a credit card with 3D Secure has to enter the code. In case a customer has a card without 3D Secure, then we are still able to process the transaction. However, it is safer to only accept 3D Secure credit cards. You can let us know which you prefer.
Check where transactions come from
Payments coming from outside the EU are more often fraudulent than within the EU. There is also a growing trend of fraudulent cases originating from England and the US. Check whether the country where the card was issued matches the country where the customer is located. If these countries differ it could be a stolen credit card.
Also check the address details. Is it a real address? You can often find the address via Google Maps. If it is not a real address, the order will not arrive anyway and the risk of a chargeback is therefore higher.
Watch out for noticeable changes
Do you notice changes in the credit card transactions which you receive? For example, does the same customer suddenly make multiple transactions in a row or is the order placed from different countries than usual? Then it is advisable to investigate this.
Check the contact information
Before delivery (for large amounts, for example), check whether the customer provided contact information. If necessary, contact them by telephone.
Do you doubt whether a certain transaction is valid? You can always contact us for advice. In general, if you have serious doubts, it is better not to proceed with the order. If the cardholder submits a chargeback, you will lose both the product and the money.