Now that you’re on your way to making sales with Chase, you’ll want to do your best to avoid chargebacks and returns. A chargeback is the payment industry term for a broad set of customer protections for credit and debit transactions. A chargeback occurs when a cardholder contacts his or her bank to dispute a charge.
Clearly stating your Terms and Conditions is critical both for earning customer trust, and also for your payment processor and bank to help defend against chargeback requests.
Here are tips to create clear billing descriptors and Terms and Conditions.
What is a billing descriptor? A billing descriptor is the merchant information that is displayed on a customer’s bank or credit card statement. All descriptors from Chase will begin with WPY* and conclude with your store name.
Example Billing Descriptor: WPY*SurfParadise
One of the most important things for merchants to do is ensure their customers can easily recognize credit charges from their store on bank statements. The billing descriptor is displayed in bank statements next to the total payment amount.
Examples of descriptors that may cause customer concern:
This store name in your Ecwid settings is passed to Chase to populate the billing descriptor for your customers. When you sign up, the default is "Online Store". You will want to update this field with the name of your business so your customers easily recognize charges from your store.
Enter the name of your business in the “store name” field in the profile information in your Control Panel. Your billing descriptor will begin with WPY* your store details will follow. In our example, the billing descriptor is: WPY*Surf Paradise
Access your store name by following this path: Settings → General → Store Profile → Store Name
Information from your store profile will also show on your customer’s invoices and receipts. Complete this information accurately so customers can contact you directly if they have questions about their purchase(s).
Post your Legal Information, including Refund Policy, Shipping and Payment information, and Terms and Conditions clearly on your site. Ecwid makes this easy with various disclaimer pages pre-created for you: Settings → General → Legal Pages
Here you’ll find a number of options to clarify your store’s policies for customers.
Update all of your legal content to include your Chase billing descriptor.
Post your return/exchange/refund policies for customers and let them know how to contact your business to resolve questions or concerns. Many chargebacks can be avoided if customers can easily work directly with you to resolve purchase issues. When merchants cannot be contacted easily, chargeback rates increase.
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