Monica Eaton on How Consumers Can Help Small Businesses
Chargebacks911® COO Monica Eaton recently spoke with Casey Hynes of CreditCards.com, offering her insight on how cardholders can help small businesses stay afloat during the COVID-19 outbreak.
CreditCards.com is a widely-read resource for all things credit card-related. Consumers often turn to the site to find the best credit card to suit their needs. However, the site fills many roles, providing information for consumers and businesses alike.
There are plenty of ways to help small businesses this holiday. You can share purchases on social media, leave positive reviews, and buy from independent sellers online. However, one tip we really can’t overlook is that cardholders should avoid disputing charges unless absolutely necessary.
“If you really want to help your favorite small business, please let them have an opportunity to refund your money, or accept a return,” Monica says. “This will help us reduce the cost of fraud – which, in turn, helps keep all of our prices low this holiday season.”
Most cardholders have little understanding of the ins and outs of the payments industry. As a result, many end up filing chargebacks on purchases without realizing how devastating each dispute can be for a merchant. In fact, chargeback abuse costs merchants tens of billions of dollars every year, and the total continues to rise over time.
