Have you ever Keyed in credit card numbers because the card would not swipe? Every time you do this, your business may be faced with a chargeback, which means money out of your pocket! If the electronic terminal can not read the magnetic strip on the card, the card number must be entered manually. Studies have shown that almost 1 out of every 10 cards fail to swipe at an electronic terminal.
What are chargebacks?
Chargebacks occur when a customer disputes his or her credit card invoice. If the transaction was manually keyed in, there is no proof that the credit card was present or that the transaction occurred, and you, as a merchant, are responsible. The money is “charged back” to the business and you are not paid for the original transaction.
How can chargebacks affect your business?
Millions of retail dollars are lost annually due to chargebacks. As the use of credit cards increases, so will the occurrence of chargebacks. The expense of searching through records and fighting chargebacks costs you time, and money.
How can keyed-in chargebacks be prevented?
An imprinter! By keeping an imprinter alongside the electronic terminal, your business will be ready to prevent chargebacks. If credit card information has to be input manually, the imprinter can provide the proof required by credit card companies during a chargeback investigation. Your business will be reimbursed because you provided the manual imprint.
What else can an imprinter do for your business?
Electronic swipe terminals help you provide fast, efficient service for your customers. However, electronic terminals periodically fail because of high volumes at the authorization centre, power failures, downed phone lines, or any number of situations. During this time, imprinters provide the important backup you need to help your business operate smoothly.