How to Troubleshoot Problems with Online Payments (Plus Four Handy Solutions)

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October 22, 2022 Business

If your business experiences problems with online payments, it could end up being very costly. In a worst-case scenario, online payment problems could even result in your company experiencing financial ruin.

So, you’ll want to know how to troubleshoot problems with online transactions by taking a look at the following four handy solutions.

Disputed Processes and Transactions

One of the most common online payment problems is disputed processes and transactions, such as a customer disputing a transaction that you’ve charged them for. For instance, a customer could claim that he or she didn’t make a purchase.

Disputed processes and transactions can occur for a variety of reasons, such as customers forgetting that they’ve made purchases, your business not providing customers with invoices, and customers being overcharged by mistake.

Solutions for Disputed Processes and Transactions

To solve the disputed financial processes and transactions of customers, you should send your customers invoices every time they make a purchase in order to prove the customers authorized the transactions.

You should also have a reliable system in place to ensure you never overcharge. And you can contact the merchant account provider to find out what further steps you can take to prevent customer disputes.

Chargebacks

A chargeback is a demand by credit-card providers that is charged to retailers in the event of fraudulent or disputed transactions, such as in fraudulent card cracking.

Chargebacks are a major challenge for business owners as they not only create excess unexpected costs. They can also ruin a business’s brand equity.

If you’re charged too many chargebacks, it could even result in your business collapsing.

Solutions for Chargebacks

One way you can troubleshoot this problem is to be prepared. That means factoring in the potential number of chargebacks by looking at typical chargeback levels for your industry.

Even better, you can use tools to help you identify patterns in user behavior. For example, you can use specialized software to identify when transactions don’t reflect normal purchase behavior, which would be a sign of someone else potentially using somebody’s payment sources fraudulently.

You can then take appropriate actions, such as shutting down those transactions before they go through.

Canceled Orders

If there are delays between customers making purchases and their goods being shipped, you could end up with cancellations.

Thankfully, you can avoid this problem from occurring easily.

Solutions for Canceled Orders

You can use specialist industry software that lets you charge and ship at the same time to avoid problems like canceled orders. For instance, if you operate a brewery business, you can use brewery management software like Ollie.

With Ollie, you can not only improve order processing and payments. You can also improve things like your inventory levels, your reports, and your customer relationships, as well as manage your entire brewery production better.

Getting Paid Late

If you’re waiting for customer payments to be finalized, it can majorly affect your business’s financial position. For instance, you may not be able to pay suppliers on time and you might not be able to manage your cash flows effectively.

Solutions for Getting Paid Late

To prevent customer transactions from being delayed, make sure you set up accounts with payment partners, like banks, to ensure your accounts are linked and funds can be transferred easily and quickly.

It’s also a good idea to set up automatic deposits for larger accounts so that you don’t experience problems transferring money manually each month. Furthermore, you should look for providers that have multiple payment gateway options so that you can better ensure faster processing times and reliable transactions.

If you find you’re experiencing other online payment issues, contact your merchant services provider immediately to gain advice and assistance.