The fact that quite a few unsavory merchants have earned
themselves a bad name selling contest entries does not
detract from the fact that done reasonably and honestly,
this can become a quite lucrative operation. Of
course, the most important aspect is to ensure that all
buyers understand clearly that they are buying a chance
to win the merchandise in question -- and are not buying
the product itself. (NOTE: we have terminated
merchants who have not made this clear in the past).
Nevertheless, for a product in high demand and short
supply, such as a newly released video game technology
at holiday time, such competitions can highly profitable
and entirely legal and honest.
The Knowledge You Want: Best
yet, you need only have one of the item in stock, and
shoppers defrauding your is almost impossible.
The other side of the coin is
shopper chargebacks against your credit card merchant
account if you do not make the deal process clear to
your shoppers. Dissatisfied shoppers could call
their credit card company and say they were the victim
of a scam. When the credit card company grants
them a refund of the charge, it comes directly out of
your bank account, along with an additional $40 or so to
pay for the cost of processing the chargeback.
This can cost you big, so keep it
open and honest.
Be sure and keep the status of the
contest on your web site after it closes and publish the
winners prominently on your web site so a credit card
company investigating a complaint can see that the
contest was explained clearly and was open and honest.
Credit card companies investigating a claim where all
mention of the contest has disappeared from your web
site will almost certainly decide in favor of the
cardholder, and you could lose your merchant account
(you ability to accept credit cards) if VISA/MC suspect
consistent misbehavior or misrepresentation.
Click now to put these
ideas to work for you:
Sell Contest Entries
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