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!
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How Recurring Payments Lead to Chargeback Fraud
The digital revolution has brought about increased growth opportunities. However, with the enhanced profitability has come an increase of deceptive behaviours in the form of chargeback fraud.
One of the greatest profit-boosting tools has also become a friendly fraud liability.