Get to know your account manager’s first name for chargeback protection
Chargeback protection for merchants is hard to come by, but for business it is critical. The travel industry is no exception. With long lead times of booking travel, chargebacks are a constant problem that have knock-on effects.
As Deloitte’s US Consumer 2019 Travel and Hospitality Outlook shows, margins are getting tighter, and more streamlined operations are needed. With rising operating costs, labor gaps driving wage increases and real estate appreciating, finding relief won’t be easy. Technology may offer a lifeline, and innovation and a steady hand from merchant processors to provide chargebacks protection plays a part.
Here are 3 ways to avoid the chargeback misery and get chargeback protection for merchants.
Solution Number 1 – Get to know your account manager’s first name and have the same person deal with all your chargebacks
A whopping 81% of customers freely admit to filing a chargeback out of simple convenience. How can you protect yourself? The reality is chargebacks are not going away. What you do have control over is how you handle them.
In the travel industry, people purchase and travel in 3+ months’ time, which makes chargebacks high risk because of this time gap. Have you spent hours on chat and the phone only to repeat yourself to someone new? It can be frustrating and needless time lost.
The solution is having a single point of contact who deals with all your chargebacks. Refreshing idea, right? At JJS Global, we want to save you time, frustration and easily help manage your chargebacks. We want you to know your account manager’s first name.
Solution Number 2 – Manage chargebacks each month
If you think chargebacks won’t impact your bottom line, think again. At the current rate, friendly fraud will cost merchants upwards of $25 billion a year by 2020.
The risk of not managing chargebacks easily leads to being out of compliance in 3 months. No one wants to deal with that hassle. The real impact comes if you breach your threshold, and your merchant account holds your reserves for 6 months. This can make or break a business, especially in the travel industry.
Your dedicated JJS Global account manager works with you every month so you are not in this position. Plus, we have a chargeback protect system which offers quick time alerts and a platform to easily manage all your chargebacks. Our customers love this feature to help manage chargebacks.
Solution Number 3 – Increase your processing power
Merchants ultimately lose out on $118 billion in sales due to false positives each year. Don’t be caught out by this. Get up and running, and stay running. That’s how we help our clients. We specialize in helping the travel industry overcome the typical ‘high risk’ status other merchant processors give you.
Another way to lower your risk profile is to set up multiple merchant accounts. We work together to increase your overall monthly volume. This means more travel related bookings and more revenue.
By using multiple accounts, you can allocate your sales to your different accounts to cut your monthly volume. To reduce risk, we help you get a second bank, with the same credit terms. The result? Now you have doubled your processing power.
A merchant making a difference for the travel industry
In the travel industry, you are met with an instant sticker of ‘High Risk’ and chargeback misery. We want to make this better for you, and our specialized merchant services for the travel industry do exactly that.
You will talk to the same person, your account manager, each time you call in. We have great team members, we help those in the travel industry succeed online.
Don’t take our word for it, hear what Anthony had to say after working with us for only 6 months – and he’s still with us many years later:
Need more processing power for your travel business and want to avoid those nasty chargebacks?