Would you like to receive payments online? Fortunately, there’s a free guide which may answer your questions.
In the Philippine Internet Payment Gateway Accepting Credit Cards Guide, you’ll find information on Credit Card Processing Basics, Chargebacks and Refunds, Customer Disputes, Security Requirements, and more.
The Guide presents the answers both in text form, as well as diagramatically via flowcharts.
The section on Fraud Prevention, however, is available only to YESPayments members, so here’s my tip on how your can minimize instances of credit card fraud.
One way is to put a cap on your selling prices, or to add (as a bonus), items which will be delivered to the customer on an installment basis.
For example, if you are selling Product X, offer Bonus Y in the form of a mini-report or guide, whose chapters will be delivered weekly for the next 8 weeks. This will discourage some of those fraudsters because they know they will not be able to get the “complete” package immediately.
And as an added bonus, this will also help reduce refund requests because the customer will wait for the complete delivery of the bonus item (in some cases).
Given the nature of the internet, do you know what is the best product small and medium scale enterprises can sell with the help of online payment systems? Yes, that’s it! Information products.
In a future post, I’ll give you tips on how to create and sell info products (in electronic format) online. Stay tuned for it!
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"Guide To Accepting Payments Online"
First Posted: May 9, 2007 | Filed in: Make Money Online