Implementing a rule of NO RECEIPT = NO REFUND, retailers can find that their bottom line improves. Refund fraud is common, especially where rules for handling refunds are obviously lax.
Retailers using our Point of Sale software can easily produce a receipt for every sale or, if more appropriate, for every sale above a certain value or some other criteria. There are many reasons for producing receipts:
- Receipts document the sale including confirming the price.
- Receipts clarify terms of the sale.
- Receipts can contain a smart marketing message to lure customers back.
- Receipts make it easy to find the sale in the event of a query – just scan the barcode.
- Receipts cost little to produce.
- Receipts are produced quickly.
- Most of all, receipts cut fraud.
Imposing rules on when receipts are produced makes it easier to impose rules on the handling of a refund request. Certainty about your processes at the counter make it easier for staff handling any refund request.
While we offer multiple ways in our POS software of finding a previous sale without a receipt, the most effective way of stopping a fraudulent credit claim is by requiring a receipt before you begin.
Retailers wanting to cut the cost of theft in their businesses will implement a NO RECEIPT = NO REFUND policy if they do not have one already. Think about your receipt printer as a key tool in managing theft. Receipts are your key to achieving this.
We can help with the technology back end and make the process easy for all to follow.
We can also help with the business processes for implementing this and other theft reduction strategies. The stronger we make our retail partners, the more our business benefits.