Fraud & Risk
How are chargebacks really impacting your bottom line?
Although the chargeback process was established to protect consumers against fraudulent behavior, some consumers dispute legitimate charges -- this is also known as friendly fraud and is increasingly a financial burden for corporations. The best way merchants can contest a chargeback is to provide the bank with evidence proving the transaction was authorized and that cardholder received value or was aware of the transaction. While the chargeback process can be complex and time consuming, there are several strategies merchants can use to help reduce the costs associated with chargebacks -- six are presented in detail.