Chargebacks are often due to fraud, and while there are many steps you can take to protect your business from falling victim, one of the most important ones is to get set up with EMV technology. EMV stands for Europay, Mastercard, and Visa and is far more secure than the old swipe-and-sign method. For more information on why EMV compliance is a good thing, read this blog.
With respect to chargebacks specifically, EMV technology can help you make your case more strongly. EMV cards are much harder to duplicate and much more resistant to skimming, the popular criminal tactic of capturing card data with a malicious device attached directly to a credit card terminal - they are most common at gas pumps and ATMs. You'll be able to show that you took all the steps in your power to make the transaction safe and legal for your customer. If they later claim the transaction was fraudulent, you can provide evidence that your hardware is as secure as can be.
If you're currently not accepting chip cards, give us a call at 408-295-8360. We can get you set up.