Six Tips for Fewer Chargebacks in Hospitality
Our last blog in this series will discuss six different ways to reduce chargebacks and improve your hospitality business. If you missed the first two posts, you can find them on our blog page.
Six tips for fewer chargebacks
To reduce chargebacks or improve dispute success, you can:
- Settle authorizations within seven days.
- Ask for ID proof and card copies for card not present (CNP) transactions.
- Use EMV terminals that capture card chip data.
- Refund the amount to the same card and do not refund a card without an offsetting charge. For example, if a customer pays with cash, do not refund them via credit.
- Monitor guests for expensive purchases and insist on signed authorization forms.
- Require advanced payment for large bookings and keep a file on the cardholder including their name, address, signature, and guest information.
Using a payment processor that makes it easier to spot a fraudulent transaction through enhanced analytics can also help you to lower your chargeback ratio.
Better Chargeback Management for Hospitality Businesses
Monitoring and recording transactions is a laborious task for any organization.
To protect against fraud and chargebacks without sacrificing the guest experience, the right payment platform can help. A payment solution can help hotels and lodging organizations maintain pristine records and easily handle chargebacks — while making payment a breeze for guests.
To learn more about how chargebacks can impact your business and how to avoid them, you can download our guide, here. Consider working with Fortis for custom payment solutions within the lodging industry.