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Hi let’s talk today about how to not be naive about a credit card chargeback that could happen to you… Hi I’m Gingergaye, President of Electronic Money Company. I’m going to tell you a story about something that happened to one of our customers. It’s a true story. So they had a furniture store and when they first signed up with us they got a credit card terminal and they always swipe the card the customer came in to buy. They paid for it in person and you know then they delivered it later, everything was great.

Well as time went on they got a little more relaxed and they thought gee if it quests like a duck and looks like a duck it is a duck and they think a credit card is just like cash. But that is not so so they relaxed and they started taking credit cards over the phone somebody would come in and shop then they’d go home and say yeah I’m gonna go for it here’s my credit card and deliver it on Saturday, whatever. So they got relaxed then all of a sudden here’s what happened.

Somebody who knew how to milk the system and get away with it, bought about ten thousand dollars of furniture and they delivered it and they found out uh six weeks or so later that they had charged it back and unfortunately they had made some mistakes. Here’s the mistakes they made so it wasn’t a happy ending. The mistake was that they didn’t have a signature on the credit card receipt because the person ordered it over the phone and they delivered it out of town it was about an hour away and so the delivery driver went out to deliver it and he got there and no one was there to meet him so he called the furniture store and the French store called the client and the client said oh, I’m so sorry we had yada yada happen and I’m going to send my sister over to open the door great so the sister came over opened the door they delivered the furniture and he got the sister’s signature on the delivery receipt so the chargeback happens right.

So now they’re frantically saying how do I win this charge back? Well, here’s the mistakes that they made:

• one, they had the purchasers they did not have the purchaser’s signature on anything not on an invoice, they could have emailed an invoice and gotten a receipt, they could have had a contractual agreement which somebody agreed to by signature, highly recommended if you’re not taking the card in person with a signature.
• two, when they delivered the furniture they didn’t have the purchaser there to sign the delivery receipt. You know it’s not a legitimate charge and it can you will always lose a charge back if you have your husband or your spouse or your child or your sister or your neighbor sign a delivery receipt. It cannot work that way so this poor furniture store not only lost ten thousand dollars they also lost ten thousand dollars worth of furniture. Just a heartbreaking story so that’s why i tell you this so you can prevent it and it won’t happen to you.

So I hope this story really helped you and I have some other special offers to help you, check it out electronicmoneycompany.com and be smart out there with your credit card processing.

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