Practices on minimizing charge offs

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Practices on minimizing charge offs

Postby bladouc.9683 » Sun Jun 18, 2017 1:15 pm

We use finance express, and with their credit system there is no swipe, it is all done through the manual entry from the computer, but also on the other hand I would say approximately 80% of all credit card transactions are done over the phone.

I wouldn't say it's a major problem, but if there is a solution to minimize charge-offs it would be very helpful.

A lot of them seem to come from boyfriends or girlfriends who are no longer together.
Other charge-offs come from customers after repossession.


We go through pay Max Pro, when we receive notice of a chargeback ,we send in the contract, and even when it is a charge back with a customers credit card, that is not sufficient in order for the merchant side on our side.

Is there any recommended best practices for this?
I was just thinking what other vendors do, if the person who is paying is not the account holder have them send the front and back of the credit card along with the signature and a copy of the ID? Any help would be appreciated thanks.
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