Instead of simply enduring chargebacks, it's crucial to anticipate them. From the outset, incorporate a dedicated amount for chargebacks into your budget based on industry statistics, which range from 0.5% to 2% of ticket sales. This proactive approach will enable you to manage these unforeseen situations without compromising the viability of your event.
In addition to including chargebacks in your budget, you can take measures to reduce their financial impact:
Refund Suspicious Orders: Review suspicious transactions, and don't hesitate to cancel and refund them if your doubts arise.
Adjust Your Ticket Price: To reduce the risk of chargebacks, increase your ticket price by 1% or 2%.
Adjust Your Ticket Price during Critical Periods: As your event approaches, the risk and impact of a chargeback increase. Consult your statistics to establish a reasonable percentage increase for your organization.
Add an Organizer Fee to Our Service Fee: Discuss your situation with your event advisor, who will explain how to add an organizer fee.
Learn more about Chargebacks