How Customers Force Refunds Through Their Banks and How To Prevent Chargebacks

  Accepting payments may be accompanied by customer disputes. When a customer questions or disputes a transaction with his/her issuing bank, you deal with chargebacks. The issuing bank gathers evidence from the customer and categorizes the chargeback based on the given reason code. There exist 151 chargeback reason codes across 4 major card networks. You

Why You Need Chargeback Protection

No matter you’re a subscription-based business or e-commerce store, chargebacks can create major problems for your business. E-commerce business owners consider credit card chargebacks awful. However, if you prepare ahead of time and use a reliable chargeback prevention system, a chargeback will never hurt your business and can be prevented easily. What Are Chargebacks? A

Lessons the Fyre Festival Can Teach About Chargeback Protection and Customer Service

47% of merchants think fraud is inevitable. According to another 20% of merchants, fraud control is too expensive. Chargebacks can create a headache for everyone involved in a business, both the merchant, the processor and the acquiring bank. Because of chargebacks the whole process needs be reversed, and that’s not free. Let’s take the example

The Importance Of Security And Fraud Prevention For Payment Processing

The Internet of Things is making the world more digitally driven and digitally connected. It’s estimated 50 billion smart devices will be used all over the world by 2020. Of course, this will highly add to the convenience of making payments, enabling consumers to easily pay how they want and when they want. However, the

What You Should Know About Chargebacks and Preventing Them

Accepting credit cards as payment in your business transactions can help you enjoy increased revenue and customer base, as well as improved productivity. A merchant account that you can open for accepting cards for payments will enable you to run your business with convenience, cost-effectiveness, and professionalism. Chargebacks are one of the important aspects concerning

False Declines Vs Actual Fraud During Holidays

Ecommerce merchants are putting all their efforts to protect their business from fraudulent payment processing. Often, eCommerce companies try too hard because of fear of fraud, which results in false declines. The latter is also called false positives and happens when a legitimate transaction is turned down. False Declines False declines are turning into a

Global Card Fraud Grows 20%. CNP Fraud Is On The Rise Worldwide

In 2015, total card fraud taken globally reached $21.84, which is almost 21% higher than the numbers registered in 2014. This is according to The Nilson Report, the most respected newsletter covering the payment systems industry. The US losses associated with global card fraud made up 39% or $8.45 billion; spending volume accounted for only

Fraudulent Transactions By City And State

According to the analysis a Silicon Valley anti-fraud technology provider, US merchants who are concerned about card-not-present fraud should pay attention to orders with billing and shipping addresses in the Southeast and Mid-Atlantic states. The software company examined over 1.3 million transactions from August 2015 to August 2016 and provided analysis for cities and states.