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In This Issue
SICK & TIRED OF CHARGE BACKS???
HERE'S HOW TO PROTECT YOURSELF.
Consumers and scammers know they're safe; It's not too late to protect
your Limo Company. Here are tips and resources to consider ...
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FREE LEADS ARE UP
FOR GRABS. SCROLL TO THE BOTTOM OF THIS NEWS-LETTER TO LEARN HOW TO
CLAIM YOURS!!!
MORE CHANGES AT LIMOPROS.COM ...
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|
 Sick
& Tired Of Chargeback Worries?
Your consumers are
secured; it's time that you're protected
As the U.S. economy continues to cough, sputter
and wheeze, a lot of small businesses are having trouble getting paid,
even by their better customers. Look, it's time to protect you.
There is more to a chargeback than meets the eye. It is not just the
unnecessary lost of money, it's the offensive chargeback fees ranging
anywhere from $15 to $50 a pop that REALLY add up. We suggest that you
consult your
merchant account provider
if you do not know what fees you can be hit with. That is not all. Those
who have excessive chargebacks, this is again defined by the provider,
range from ½% to 2 ½%; can lose their merchant account. That is, gets
terminated without warning and could end up on the MasterCard Match
List, a.k.a. Terminated Merchant File, which is looked at by other
providers and if you show up on it, this means you will not get a
merchant account. You can expect to stay on the list for 5 years too.
Plus, there are new rules and regulations that have cropped up with the
card associations. Visa has an International Fine for excessive
International chargebacks and MasterCard has a fine for excessive
chargebacks for high volume merchants. These fines are in the several
$1,000's to over $100,000. Sadly, the cards are stacked against
limo companies and in favor of consumers when it comes to "quality
dispute" chargebacks. Under the Federal Fair Credit Billing Act,
dissatisfied consumers may request a chargeback of any transaction if
they notify their bank within 60 days after they have received the
credit card statement on which the transaction is recorded.
** SPECIAL NOTE **: If you have lost your merchant
account from excessive chargebacks and are now on the MasterCard MATCH
list because of it there is help! Bank Card Law helps businesses get
their names off the MATCH list, help you obtain another merchant account
and educate you on how to eliminate future chargeback episodes. Visit
Bank Card Law at
http://www.bankcardlaw.com
Additionally, here are some ways you can greatly reduce the instances
of chargebacks and fraud, even potentially eliminate the risk
altogether. Some are targeted to limo companies that accept online
orders:
#1 Interactive Voice Response
(IVR) Terminals
IVR Terminals, developed by
VoiceStamps,
are a relatively new solution that greatly reduces chargebacks and fraud
by collecting a "voice stamp" or voice authorization and verification
from the customer before the merchant ships the order. The voice
recorded order verification is then automatically e-mailed to the
merchant for filing in the event the customer tries to dispute the
charge on their account.
#2 Collect CVC2 and CVV2
Verification Numbers
This tactic alone can not only reduce instances of chargebacks by 26%,
according to Visa, but also reduce any pass-through fees that may be
charged when a credit card order is conducted. On the back of
MasterCard, most Visa and Discover credit cards is a 3-digit security
code located right after your credit card number. Requiring customers to
give the 3-digit code acts as an additional verification measure.
American Express cards also have a similar security code that is located
on the front of the card right above the cardholder's account number and
is usually 4-digits long. Plus, most online payment processors support
entering the security codes when processing credit card orders. Check
with your payment gateway provider (i.e. Verisign, Authorize.Net, ECHO
Inc., etc) for details.
#3 Use Address Verification
System (AVS)
AVS checks to ensure the address entered on the order form matches the
address to where the cardholder's billing statements are mailed to.
People ordering products and/or services using a stolen card number will
never use the real cardholder's billing address, so this is your chance
to stop the order before it's too late. AVS only works with orders
conducted in the US. Failure to use AVS when processing credit card
transactions will always result in paying higher credit card processing
fees.
#4 Scrutinize orders from
developing foreign countries
A large percentage of fraudulent Internet purchases are made from
other countries. Accept online orders from such countries at your own
risk until a worldwide AVS system is developed.
#5 Let customers know what
name will appear on statements
If you use a 3rd party processor, and even if you don't, make sure the
customer knows what name will appear on their credit card statement at
the end of the month. This will help to reduce any confusion that might
would otherwise occur.
#6 Handle suspicious orders
accordingly
If an order seems suspicious the best way to handle the situation is to
either call or e-mail the customer and attempt to verify that they
placed the order. As a rule of thumb, if in doubt, check things out by
following up with a verification call. This is where a system like
VoiceStamps
can come in very handy.
#7 Stop misplacing your slips
Take care with your processing slips. Retain these for your records.
#8 Request fax copies of ID
and credit card
You may want to request your out of state or International customer
to fax a copy of both sides of their credit card and driver's license.
While this is not a defense under Visa or MasterCard rules, it is yet
another way to deter fraud.
#9 Posting a warning message
Taking the time to post a warning message on your order page to those
who may attempt to make a fraudulent order will greatly deter the number
of instances of fraud. Be sure to mention that IP (Internet Protocol)
addresses are being logged. IP addresses can come in handy when locating
people about fraudulent orders.
#10 Don't let them go; get help when needed
There are a couple of online resources available to merchants who
wish to challenge chargebacks. For a one-time fee of $39, Florida-based
Azoos.com Inc.
offers programs that teach merchants step by step how to challenge
chargebacks, including form letters and other documents, while North
Carolina-based
MerchantSeek
provides free information for merchants on ways to deal with
credit card fraud.
Taking measures to deter and eliminate fraud and chargebacks from
occurring are a necessity in order to operate a successful online
business. Each day companies dedicated to risk management are developing
solutions to provide limo companies, like you, with extra protection
because of the financial burdens chargebacks and fraud can bestow if
ignored.
Trusted Merchant
Account Provider
Helping Limousine
Operators Accept Credit Cards!
There
doesn't seem to be as much of the old standards as there used to be like
honesty and integrity. Well, here's a company that
believes in the old fashioned values. In fact, after 40 years in the
business,
LimoCreditCards.com
still believes in doing things the right way.
Limousine Credit
Cards offers:
·
FAST,
dependable, credit card setup.
·
LOW
competitive rates and no startup costs.
·
Use
your current bank account, your money goes where
you
want it to go.
·
Can
setup any limousine operator regardless of credit history.
·
After
you are up and running, they'll help with your every need.
BEST OF ALL, you'll
speak to Tom, a "human"; no phone system or voice mail!
Contact Tom at 800-754-7648 or
tomp11@charter.net
today!
Don't forget to ask about his specials on portable / wireless terminals
NEW SOLO ADVERTISING
Vehicles for sale? Need
national partners? Are you a DJ or coach builder? Providing wedding or
other Services, too?
The launch of our
sister site, LimoPages.net, and the continuous efforts of our marketing
team, has provided a unique resource to limo companies worldwide. How?
Well, more and more consumers, as well as transportation, event and
travel companies, are coming aboard each day. In fact, we receive emails
from your local residents seeking chauffer positions, help with
obtaining vehicles for starting a business, those looking for farm out
references, etc.
Instead of paying
ridiculous advertising rates to expose your alternate company, vehicle
for sale, chauffeurs for hire or national partners, LimoPros.com is now
offering "SOLO AD" opportunities to assist in your effort!
Reach the nation or worldwide; We will provide the avenue to have your
offers seen quickly by thousands and at very reasonable rates!
FREE LEADS ...
As you know,
LimoPros.com provides quality "real-time" leads for our members.
In other words,
you receive leads as your customers enter their own details in our
system. We don't complete the Limo Service Requests for your consumers,
nor do we control their selections. The only influence we have is in
those we teach how to find a list of providers in their area. Therefore,
we receive NUMEROUS emails from consumers and other businesses
thinking that LimoPros.com is an actual limo company.
We would like
to send them to you!!!
If you are
interested in receiving these leads for your area and are a LimoPros
member, please email
leah@limopros.com
and we
will contact you if any are available for your region. |
