Jogging a Customer’s Memory to Prevent Friendly Fraud

The very thing that makes subscription services so valuable is also the driving force behind subscription-related card disputes. Recurring transactions are inherently structured to provide ease so consumers don’t have to remember to make payments. But when service is so streamlined, consumers can either forget what the charge is for when looking at their billing […]

Compelling Evidence 3.0 301 Training: Qualified Transaction Matching

Visa’s new compelling evidence 3.0 (CE3.0) takes effect this April 15th, 2023. Here’s what you need to know. What is CE3.0? Visa’s latest evolution of compelling evidence requirements for 10.4 fraud disputes, designed to help reduce first-party misuse (friendly fraud) in the post-purchase ecosystem. How to Use Verifi’s Order Insight with CE3.0 In the months […]

ICYMI: Removing Disputes Has Risen to the #1 Concern for Sellers

According to a recent survey, removing disputes from the payments ecosystem has become the number one concern for sellers, with a tertiary concern of first-party-misuse1. The question is – how do you stop disputes and still do right by your customer? Research shows it’s five to twenty five times more expensive to acquire a new […]

Visa Compelling Evidence 3.0

For Subscription Sellers Starting in April 2023, the introduction of Visa’s new Compelling Evidence 3.0 (CE3.0) may give relief for subscription sellers who have struggled with first-party misuse (friendly fraud) for years. The ease and convenience of reoccurring subscriptions is ideal for customers; but the billing model can put sellers at greater risk for friendly fraud, […]

Compelling Evidence 3.0 (CE3.0) in the Pre-dispute and Pre-arbitration Environments

Sellers, especially those operating in a card-not-present environment, have seen increased instances of fraud over the last few years. Between 2019 and 2021, annual Visa CNP sales grew 51% and disputes grew nearly 30% globally1. Many of these disputes are thought to be inaccurately categorized as fraudulent and may truly be the result of friendly […]

“Friendly Fraud” is on the rise. Visa’s new Compelling Evidence 3.0 aims to help merchants level the playing field.

According to Visa internal reporting, friendly fraud can account for up to 75% of all chargebacks. “Friendly fraud is not always friendly, especially from a merchant’s perspective,” said Mike Lemberger, Senior Vice President of North America Risk at Visa.  The Fair Credit Billing Act of 1974 legislated the chargeback process to help protect consumers; but […]

What Every Merchant Needs to Know About Friendly Fraud

As card-not-present transactions rise, Visa is addressing the impacts of first party misuse Fueled by the pandemic, the digital economy has grown significantly in the past two years. At Visa, we are continuously listening to and learning from all members of the payments ecosystem. What we’re hearing is that while online purchases are more seamless […]

Stress-Testing Your Dispute Strategy

Your Dispute Strategy in Action By now, sellers realize that the consumer trend away from in-store shopping and toward e-commerce is not going to reverse any time soon. In fact, a recent study reported that 44% of global consumers now purchase physical goods online.1 With so much new online purchasing and so many businesses moving […]

Top 3 Ways to Improve Your Dispute Strategy

The Importance of Building a Dispute Strategy Success and longevity in e-commerce are driven by a solid payments strategy and strong customer service standards. Yet, the payments landscape is changing rapidly, which can make it difficult to navigate without a strategy. According to a recent study, in-store shopping has dipped 3% year-over-year, while online shopping […]

The Dispute Landscape – Past, Present & Future (Part 2)

Total Dispute Management and Pre-Disputes In October 2019, Visa acquired Verifi. Since day one, the companies have been exploring ways to prevent or resolve disputes quickly. Since then, we have made tremendous strides integrating our solutions with Visa’s infrastructure and have co-developed a revolutionary product, Rapid Dispute Resolution (RDR) – the first fully automated dispute […]