If you’re a merchant getting hit with chargebacks, the concept of chargeback insurance might sound like the perfect solution for you. But that may not always be the case. Here are some important considerations as well as suggestions for augmenting your insurance.
Chargebacks911 is urging merchants in the UK to understand and use reason codes in the light of newly released fraud statistics. Figures from Financial Fraud Action UK reveal that financial fraud losses grew by 26% in 2015.
With Target’s digital sales reaching an all-time high, Chargebacks911 co-founder and Chief Operating Officer, Monica Eaton-Cardone cautions the retailer to beware of rising chargeback fraud, and advises taking proactive measures to prevent losses.
Fraud is one of the most common reasons cardholders file a chargeback. But within the category of fraud is a concept quite troubling – friendly fraud. Referred to as chargeback fraud or cyber shoplifting, this type of chargeback is difficult to detect and prevent.
How can ecommerce businesses fight the dynamic nature of fraud and reduce losses associated with fraudulent purchases? While certainly not exhaustive, here are four important things to watch for in your ecommerce fraud prevention.