Chargebacks, Chaos & Customer Trust: A Founder's Guide To Ecommerce Resilience — Conor Lyden | How To Stops Chargebacks, Why Chargebacks Cost More Than Money, What Brands Miss In Calculating Transaction Costs, How Trustap Protects From Chargebacks (#418)
Chargebacks are a silent killer for many ecommerce businesses, extending beyond just lost revenue to impact reputation and operational efficiency. This episode with Conor Lyden, CEO of Trustap, reveals how to proactively build trust into transactions and streamline chargeback management, turning a common headache into a competitive advantage for DTC brands.
Key takeaways
Implement a solution that acts as the merchant of record to offload chargeback liability and management, as this significantly reduces financial and reputational risk.
Prioritize solutions that integrate multiple functionalities (shipping protection, fraud prevention, payment processing, chargeback management, tax reporting) into a single plugin to reduce operational overhead and app management complexities.
Recognize that the true cost of chargebacks extends beyond the disputed amount, encompassing the 4-5 hours of staff time spent per chargeback on average, which detracts from growth-focused activities.
Leverage buyer protection and shipping protection features as part of your payment process to increase conversion rates and build customer confidence.
In this episode, we explore how chargebacks hurt online businesses and what smart store owners are doing to fix this problem. Chargebacks mean lost money, wasted time, and damage to your reputation with payment companies. Our guest Conor Lyden, founder and CEO of Trustap, shares how his company helps online stores fight fraud and secure payments. He explains how one simple solution can replace multiple expensive tools while saving businesses thousands of dollars every month.&nb...
Frequently asked about this episode
What does this episode say about customer trust?
Implement a solution that acts as the merchant of record to offload chargeback liability and management, as this significantly reduces financial and reputational risk.
What does this episode say about fraud prevention?
Prioritize solutions that integrate multiple functionalities (shipping protection, fraud prevention, payment processing, chargeback management, tax reporting) into a single plugin to reduce operational overhead and app management complexities.
What does this episode say about operational efficiency?
Recognize that the true cost of chargebacks extends beyond the disputed amount, encompassing the 4-5 hours of staff time spent per chargeback on average, which detracts from growth-focused activities.
What does this episode say about payment processing?
Leverage buyer protection and shipping protection features as part of your payment process to increase conversion rates and build customer confidence.
