Dec 21, 2017

AI Fighting Fraud and Winning

It’s estimated that Americans lose approximately $50 billion a year to financial scams, and there are indirect costs like bounced checks, late fees, trouble meeting monthly expenses and even bankruptcy. So, it’s no stretch to say that fraud also results in emotional costs, which are, in fact high. 50% of victims report having felt severe stress, and over 1/3 report...

Dec 14, 2017

Product Returns and Chargebacks After Christmas

Approximately 25% of a retailer’s annual returns are associated with the few weeks following the holidays. Product returns are even more pronounced in the eCommerce field. During the 2016 season, 1 out of every 3 purchases were returned. Chargeback Protection Chargebacks are of special concern during the holiday season since eCommerce dominates the holiday shopping season, with steady year-over-year (YOY)...

Dec 11, 2017

Five Useful Tips to Reduce Online Chargebacks Over the Holidays

The holiday season is usually as hectic as it is jolly for retailers. Sales generated during the holidays contribute to the bulk of a merchant’s annual revenue. On the other hand, the sky-rocketing demand usually leaves businesses gasping for air. And, as if managing and satisfying deal-hungry customers isn’t overwhelming enough, there’s also the many cases of fraud and chargeback...

Oct 13, 2017

10 Tips Merchants Should Use to Avoid Credit Card Chargebacks

Chargebacks occur when a customer files a dispute with his/her bank regarding a credit/debit card transaction. The problem arises when the merchant doesn’t participate in the dispute process or is informed too late. In 58% of all instances, merchant are never notified of the pending dispute, which makes them helpless and unable to defend themselves against the initial chargeback. Top...

Sep 26, 2017

Fraudsters Adopt New Tricks, ID Fraud Soars to All Time High

As fraudsters find new ways to imitate their victims, ID fraud soars to record levels. It would seem these criminals are applying for fake policies to build on the profiles of their victims. Fraud prevention service, Cifas, revealed that identity theft reached an all-time high during the first six months of 2017. According to their data, 89,000 identity frauds were...