Friendly fraud is when a cardholder claims a refund for a purchase they or their relatives actually made. The scam has become popular and a burden to merchants, even pushing market experts like Ethoca, a commerce firm to investigate its prevalence across different industries. And the result; while friendly fraud occurs across all industries, the frequency is higher in specific...
Technology has opened up endless doors of opportunity. As it evolves, technology continues to support new ways of doing business and expands card not present transactions. Businesses have more solutions than ever, and customers have a wider array of payment options than ever before. However, advances in technology have also created new opportunities for fraud. Botnet attack and static biometric...
Chargebacks are a merchant’s worse nightmare. They not only eat away at your time and energy, but they seriously chip away at your business’ bottom line. Chargebacks are one of those things to try to avoid at all costs. If chargebacks are a big concern and issue for your business, consider the following ways you can handle customer disputes and...
In an increasingly digital world, chargebacks are a huge problem for merchants. They chip away at your time and energy. They add stress to your day and affect your bottom line. They can even cause your merchant account to be closed or prevent you from securing one in the first place. This is just one of the many reasons why...
How to Prevent Online Fraud from Hitting Your Business In 2017, the number of consumer complaints about fraud, identity theft, and other concerns dropped to 2.68 million, according to the Federal Trade Commission’s 2017 Sentinel Network Data Book. There were 2.98 million in 2016. Despite the decrease in overall complaints, consumers still reported a total loss of $905 million to...
Equifax (EFX) Inc. has recently reached a deal with 8 states aiming to avoid future breaches. What about you? How are you going to better protect your business? Do you have a reliable system to prevent chargebacks? Just read the article to know more about all this. Equifax Data Breach: Prevent Chargebacks Equifax, the credit reporting giant, is for increasing...
It’s pretty clear. Many shoppers opt to “Click and Collect” or “Buy Online, Pick Up in Store” (BOPIS) to avoid shipping costs, ensure their purchases were correct, and to get items sooner. The increased interest is why mega retailers, Target and WalMart plan to expand their BOPIS services. By the end of 2018, both retailers plan to expand their click...
Previous online fraud trends have misled industries to believe that high-ticket sectors like electronics are the most vulnerable to scam. Believe it or not, scammers have spotted another lucrative spot in the beauty, and online health market which studies revealed had experienced double-digit growth last year. Fueling this growth, according to the Natural Products Insider, is the surfacing of natural...
Chargebacks can create huge problems for merchants of any type. So, taking all the necessary measures to fight chargebacks is crucial. Are you interested in an AmEx chargeback? Do you want to know how you can fight chargebacks? This article will help you with all this. Get Reliable Chargeback Protection Let’s first start with chargebacks. A chargeback is a transaction...
Online payment fraud doesn’t stop to be a threat. Merchants in the US are overwhelmingly attacked by fraudsters. The eCommerce industry’s loss accounts for billions of dollars due to chargebacks. Is chargeback insurance something you’re interested in? Just go on reading this article and you’ll learn what you need. Fraud Losses: Need Chargeback Insurance? eCommerce companies are applying more advanced...
