Chargebacks911 Founder and CEO Monica Eaton shared her thoughts on the newly finalized “click-to-cancel” rule announced by the FTC in a new feature for Financial IT.
Financial IT is the online and print resource for FinTech market analysis. The company makes a firm commitment to software vendors that are vital to the success of the future to showcase and examine new products and technologies with deep enquiring analysis. That, at the same time, provides people in financial institutions with the best possible awareness of the latest trends and developments: in order to help them reach the business and operational zenith to which they aspire.
As Monica notes in the piece, most cardholders are interested in seeing a simpler return process. In some cases, they’d rather simply call the bank, rather than the merchant.
“There are a number of reasons customers may not want to contact the retailer, including odd service hours, hard-to-cancel processes, and pushy agents,” Monica says. “In many cases, the customer simply forgets the subscription exists, then discovers months later they are still being billed.”
“Hidden or otherwise onerous cancellation processes will lead to unhappy customers, which will resort to chargebacks to recoup their money,” Monica added. “Subscription cancellation should always be a simple and straightforward process for customers. Improving the customer experience in a way that allows them to self-manage their accounts is not only forward-thinking, but a growing market demand.”
