Although many merchants today will argue that chargebacks are part and parcel of running an online business, it is not something to tackle without some serious reinforcements. The negative repercussions are too great to not have a solid, strategic plan to mitigate them. Chargebacks are a substantial drain on a merchant’s finances. It is more effective to take a proactive...
If the devastating effects of the COVID-19 pandemic were not enough, businesses must also contend with the steady rise of “friendly fraud”. This is when a customer makes a purchase, receives the product, then requests a refund from their credit issuer. This refund is also known as a chargeback. Chargebacks can be deadly for the business bottom line, and eventually...
One of the many challenges that merchants must face when they first open up their business is chargebacks. Given the nature of the online business structure, the higher propensity for fraud due to card-not-present transactions, and simply not having adequate systems in place to address them, chargebacks are going to be a repeat occurrence. The key to keeping your business...
