For many cardholders, canceling their card and getting a new card is the standard course of action after being victims of fraud. The assumption is that when they get a new card, the fraud problem will be sorted out because the fraudsters will not have access to the new card details. That was not the case for Grant Larimer, who continued to get fraudulent Planet Fitness charges on his card even after getting a new card … Read More
Is the Chargeback Data You’re Feeding Your Fraud Tech Contaminated?
{%%{base64content }%%} Preventing true fraud is a vital part of doing business. True fraud is when a fraudster gets a hold of credit card credentials and successfully uses them at a merchant’s site or store. True fraud for merchants is a pain, not only because it results in a dispute, harms customer relationships, and possibly causes loss of goods or services. It is a pain to merchants because it leaves merchants with an unwinnable dispute, which … Read More
Cardholder Behavior Surrounding Chargebacks and Payments
Every merchant who takes card payments, either online or in-store, has to deal with disputes. This is why Aite Group, under the sponsorship of Ethoca, surveyed consumers, merchants, and credit issuers to create the Improving the Dispute Experience: Transparency Is Power whitepaper. Let’s walk through some of the findings of this study to learn how merchants can reduce and manage chargebacks. Notable Findings About Cardholder Chargeback Behavior Cardholders are more likely to research charges on a … Read More
What is a Transaction Modifier?
By looking at reason codes and transaction modifiers to create dispute responses and operational practices, merchants will be in the best position to prevent disputes and recover revenue. In the world of dispute management, knowing what evidence is required in a dispute response document and gathering that evidence are the most vital parts of regaining lost revenue. When a dispute is filed, there will be a reason code attached to provide understanding into why a specific … Read More
Visa’s Automated Fuel Dispenser EMV Liability Shift – Updated Timelines
Fraud is one of the biggest challenges that the payments industry faces. Payment networks such as Visa consider fraud prevention as an important step in securing payments for both merchants and customers. Even with fraud being a commonplace occurrence, some merchants such as those who run Automated Fuel Dispensers (AFD) are more vulnerable to fraud than others. This is why Visa introduced the Automated Fuel Dispenser EMV Liability Shift to incentivize merchants to use EMV chip … Read More
Chargeback Raises an Additional $6.6 Million
The real-time dispute management platform secures global growth with funding led by FINTOP Capital and Next Frontier Capital. Salt Lake City, UT, June 9, 2020 — Chargeback, the pioneer in real-time dispute management for merchants, announced today it has completed a $6.6 million Series A1 funding enabling the company to accelerate its capacity to help merchants decrease disputes, achieve higher win rates, optimize acceptance rates, and retain more revenue. The round was led by FINTOP Capital … Read More
Hey Alexa, File a Chargeback
Internet of Things (IoT) devices are all around us. Devices ranging from smart speakers, cars, refrigerators, light bulbs, printers, and more, can connect to each other and the internet to make our lives easier. IoT devices are quickly emerging as a new avenue for shopping and payments. By simply speaking a few sentences to a smart speaker, consumers can purchase an array of items and subscriptions. As a consumer, purchasing through an IoT device creates a … Read More
Cardholder Web Traffic Insights
At Chargeback, we occasionally see confused cardholders come to our site looking for help to dispute a charge against a merchant. Over the past few months, we have noticed an increase in what we call “cardholder traffic” coming onto one article in particular. That article is Pursuing Criminal Charges Against Gross Chargeback Fraud. The cardholder traffic is specifically coming from the searched question, “Can I go to jail for disputing a charge?” We thought this was … Read More
The Future of Payments 2020: Payment Trends Merchants Need to Know
Change is the only constant in life. This is especially true in the payments space where merchants have witnessed numerous changes from cash transactions in brick and mortar stores, to card transactions, mobile payments, and the rise of ecommerce. Merchants are set to see even more changes in the payments landscape as technology advances and because of other accelerating factors such as the COVID-19 pandemic. This article will present 2020 payment trends that merchants need to … Read More
How Return Policies Can Prevent Disputes
By creating a customer-centric, easy to work with, and well-researched return policy, it can prevent disputes and gain customer loyalty. Merchants are facing challenges and overcoming problems that they have never experienced before COVID-19. The combination of unique shopping circumstances, dangerous cardholder behavior (such as panic buying), and the cancelation of events put merchants at risk to receive an increase in disputes. Merchants are already seeing close to a 200% increase in payment disputes and chargeback … Read More