We have a strict non-refundable policy on ticket deposits because, otherwise, we can't determine how many seats are left for each event and we lose the revenue on that empty seat.
We often get unscrupulous customers who claim they don't recognize the charge because they decided not to attend in the 11th hour!
We also have the rare individual who completes the entire 3-day training and then claims they never got the service!
Because it's in-person training, it's hard to prove they received the service. For example, there are no postal records we might show as proof that we shipped a physical item and it was received.
Now, we have them sign a document affirming they got the training prior to receiving their certificates.
But, still, Chargebacks are stressful, because they create revenue and profit uncertainty for each event.
The dollar value of our fraud rate is about .3-.7% per event. But we always fear the outlier event, where that number spikes. For example, we set aside 2% of revenue from our most recent event (which is thousands of dollars now tied up) to prepare for any unanticipated spike in chargebacks.
And... the stress and frustration of fraudulent chargebacks is a non-zero intangible cost.
I will gladly pay .4% to get revenue certainty!
At this time we don't use checkout though. So will need to look into what we need to do to change to that.
I believe we're using Stripe Elements. (I'm the business owner and a programmer, but I didn't code our original stripe integration.)
Will be looking at this today!!!
Thank you so much for your work on this feature! This is a real game changer for businesses like mine!