Your Best Customer or Worst Nightmare? The Truth about Friendly Fraud
Unlike criminal behaviour where someone breaks into a business and steals merchandise, or hacks into an account, stealing identities and funds, friendly fraud occurs when apparent legitimate customers initiate a transaction and then process a chargeback.
Best Tips to Reduce Chargebacks
Chargebacks are a blessing for credit card users; they allow cardholders to dispute unrecognised transactions and be protected from possible repercussions related to fraud. For business owners, however, chargebacks can be an inconvenience at best,
There are various ways for consumers to engage in friendly fraud (or chargeback fraud). One of the most common methods is falsely claiming an item or service wasn’t delivered.
Let’s look at the best ways to manage these chargebacks.
How One Innovator Became an Industry Leader
Success comes in many different shapes and forms. However, all success stories have one thing in common: a unique and telling journey to the top.
Monica Eaton-Cardone is no exception.
Guide to Navigating the MATCH List
The business world is full of acronyms, so it can be hard to keep concepts straight. Two acronyms that you hopefully have not experienced firsthand are MATCH and TMF.
Managing both eCommerce and Card-Present Chargebacks
There are many factors that contribute to profit losses—chargebacks are just one of the trouble makers. But what makes chargebacks different from other things that cut into profit margins?
Why Were Chargebacks Created?
The history of chargebacks is pretty straightforward; however, the current use of chargebacks is quite different from lawmakers’ original intention. Find out how the history of chargebacks has evolved into friendly fraud.
Do You Know the Most Common Types of Chargebacks?
The most common types of chargebacks are merchant error, criminal fraud and friendly fraud. Do you know how your involvement in each of these chargeback situations affects your bottom line?
Is it possible to take chargeback prevention too far? It is essential for merchants to do all they can to protect their profits, but legitimate chargebacks are a form of consumer protection. Merchants shouldn’t use chargebacks as a bargaining chip or justification of harsh punishments.
Chargeback fraud is an expensive problem for card-not-present merchants, and it’s a growing problem too. Visa estimates friendly fraud costs nearly €12 billion each year.
Ideally, merchants will prevent friendly fraud before it happens. However, that is easier said than done!