Disputed and fraudulent transactions are an unfortunate aspect of accepting payments online and the best way to manage them is to prevent them from happening at all.
An effective dispute and fraud prevention strategy uses a number of methods that are best suited for your business while keeping any customer burden – and losses – to a minimum.
Here are a few ways you can help reduce the risk of fraudulent payments when using TimelyPay as your online payment provider.
First head to Setup and then TimelyPay
Capturing a billing address
Fraudulent disputes can be lost if only minimal client information is collected at the time of processing the online payment. Collecting as much information from your client as possible upfront will reduce the risk of fraud and increase your chance of winning a fraudulent dispute.
Turn the option to Require Billing Address on by clicking edit, sliding the button to 'on' and clicking 'Save'.
Use easy to recognise statement descriptors
If the cardholder can easily identify where the transaction was made, they are more likely to contact you directly rather than dispute the transaction straight away.
This can be edited under ‘Bank statement descriptor.’ You will then be able to enter a Statement descriptor that will be easy for your clients to recognise by clicking 'Edit'. Click 'Save' when you're finished.
Create clear and easy to read terms and conditions
Rather than simply linking the client to your terms and conditions during the online booking process, provide a full version of them that they have to agree to when making a purchase online.
Your terms can be added under Setup > Online Payments
Then under your Cancellation Terms. 
Verify your client’s Identity
The easiest way to do this is by enforcing Client Login. When using Client Login, your client’s provide their mobile number and are sent a one-time code to verify their identity.
You can do this under Setup > Online Bookings
Then select Clients must log in under Client Login
Contact and refund any suspicious transactions made
If you have a client book and pay online and you are suspicious of this transaction based on their name, number, email address or never having met them before, try reaching out to them immediately to confirm their appointment. If you suspect the transaction is fraudulent, refund this payment immediately and note the client’s file.
For more information on disputes and ways to protect your business, visit our guides on TimelyPay Disputed Payment Process and Two-factor Authentication