2017 Round-Up of the Best Chargeback Content We Created

Scott StoneChargebacks1 Comment

2017 Round Up

As 2017 is coming to a close we wanted to take a look back on what our blog has covered throughout this year. Below is a collection of our most popular, most helpful, best researched articles of 2017.

These cream of the crop articles are split into four different sections:
Top Reads are this year’s most read articles and for a good reason.
What Merchants Need-to-Know are the most valuable information for merchants.
Looking into 2018 are articles based on new trends that we predict will continue to grow.
Personal Favorites are just how it sounds. There are my favorites from this year.

Top Reads

Visa Claims Resolution (VCR): What’s Changing & How To Prepare

Visa recently introduced its new global dispute resolution process: Visa Claims Resolution (VCR). In April 2018, all disputes will be processed through VCR. This means stakeholders have just a handful of months to prepare before the switch happens. Here are the upcoming changes, what to expect when they go into effect, and how the VCR will affect your business. Read more about Visa Claims Resolution.

Ecommerce Payment Fraud Outlook 2017-2020

As online sales continue to rise and represent more retail dollars than ever, online payment fraud is set to not only keep the pace, but grow to an even bigger problem for ecommerce merchants. Card not present (CNP) accounts for 60% to 70% of all card fraud in many developed countries, according to Juniper Research, and it’s increasing.
Recently released research from both Juniper Research and Worldpay provide an understanding of the current online fraud landscape and a snapshot into what the future holds. We’ve analyzed both reports and synthesized their information into a comprehensive outlook for ecommerce payment fraud over the next three years. In this post, we’ll look at online payment fraud from causation, merchant losses and approaches, all the way to the state of fraud in 2020. Read more about ecommerce fraud.

What Merchants Need-to-Know

Should You Ban Customers Who Chargeback?

You made it through the painful chargeback process. You either fought it and presented compelling evidence or you just took the hit and and accepted the chargeback. Now that you have put the time and effort into settling the chargeback you may want to just ban the customer so they never have the chance to do that to your business again. Is banning customers who dispute purchases a good idea? Here’s when it is and when it isn’t. Read more about banning after chargeback.

What is a Merchant Category Code (MCC)?

Your merchant category code (MCC) needs to be included in retrieval requests and chargeback responses. Not only does it need to be included in your response document, but it can also impact the type of compelling evidence you need to provide as the contents of your response. But, that’s not the only reason your MCC is important. Read more about MCCs.

Looking into 2018

What’s a Trust and Safety Policy?

Trust and Safety policies are becoming more and more common among today’s top companies. Not only are the number of companies adopting these policies growing, but their growing internal Trust and Safety teams, as well.
For better or for worse, companies are largely formulating the standards for these policies as needed and little direction is available for understanding what exactly a Trust and Safety policy is, what companies need them, and what purpose they serve. The following information is meant to help close the gap in understanding Trust and Safety policies and the purpose they serve. Read more about trust and safety policies.

Essentials for Building a Trust and Safety Team

Creating a Trust and Safety team unfortunately isn’t a cookie cutter, one size fits all task. Organizations face different trust and safety challenges depending on their industry, product or services, how their products or services are sold, and if it is sold in a P2P, B2B, or B2C environment. Endless factors could contribute to why one companies flawless and effective Trust and Safety team or Trust and Safety Policy doesn’t work for another company. The good news it that almost all established Trust and Safety teams accomplish three tasks: create a safe environment, prevent fraud, provide customer service.
We will take a look at how top Trust and Safety teams accomplish these three tasks and what roles they use to do so. Read more about trust and safety teams.

Personal Favorites

How to Correct Invisible Chargeback Mistakes

We all make mistakes. From a merchant’s standpoint, that could mean making mistakes with dispute management, measuring a team’s progress and providing quality to chargeback responses. What can make this matter worse is not knowing when a mistake is made. That traps us in continuously making that mistake over and over again without showing any signs of improvement. Unfortunately, we are the least reliable source in spotting our own mistakes since we tend to overestimate our least-knowledgeable skillsets, according to David Dunning and Justin Kruger. Read more about Dunning and Kruger.

Committing Chargeback Fraud is Easy

With just a few clicks anyone can dispute a transaction. Money is immediately taken from the merchant and given a time limit as little as 10 days to prove that the customer was legitimate. From the merchant’s perspective many emotions come from receiving a chargeback. Disappointment, anger, panic, and even betrayal can all come from the customer’s actions. Especially if they did not try to resolve the issue with your company first. Some customers have legitimate claims to issue a chargeback, but other times they have more malicious intentions behind the dispute. Fraudsters are able to hide behind the chargeback claim and the issuing bank wants to side with the customer because they would rather keep their customer happy rather than the merchant. This post will explain how easy it is to issue a chargeback and in turn show why is it’s important to take steps to avoid these disputes as much as possible. Read more about how easy committing fraud is.

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One Comment on “2017 Round-Up of the Best Chargeback Content We Created”

  1. I couldn’t type specific questions and wanted to know if you carry out services on adhoc basis, as I have processed 5 chargeback claims against one merchant who claimed to be an authorized online trading company and turned to be a scam, through 4 credit card issuers and two of which have been processed in a timely fashion and were to my favor however the other 3 were rejected by the merchant and issuer after being filed. So wanted to check if you can carry out PSP recovery as the amount lost was USD 215,000 and was able to recover USD 46,000 only.

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