Category: Credit Card Fraud
Why is my business experiencing fraud?
A business experiencing fraud may not have the proper security and fraud prevention controls in place. Card-not-present (CNP) businesses that process transactions online are especially at risk to fraud as the authentication process is less tangible than at a brick-and-mortar store. While there are remote authentication techniques and tools that CNP merchants can use, they […]
Why does online fraud occur?
Online fraud occurs for a variety of reasons, including true fraud, friendly fraud and ramifications from industry impacts like EMV and data breaches. All e-commerce merchants are at risk to experience online fraud and should have the proper fraud prevention and security measures in place. In recent years, card-not-present (CNP) fraud has been on the […]
What is friendly fraud?
Friendly fraud is anything but friendly. Friendly fraud has grown in recent years with the rise of ecommerce. A customer makes a purchase online for a product or service with their credit card and then contacts their credit card issuer to dispute the charge. This type of fraud is often referred to as friendly […]
What is chargeback representment?
Dispute representment allows merchants to dispute a chargeback. You must collect and provide evidence and any other information that proves the transaction was approved and completed properly. If the merchant wins the dispute representment case, the issuer reverses the chargeback and the merchant is refunded. What evidence is required for a successful dispute representment? Because […]
Return item chargebacks, and how they work.
Chargeback fraud, commonly referred to as friendly fraud or first-party fraud occurs when the customer requests a refund from the merchant after a purchase is made. The consumer files a fraud claim with their bank indicating they didn’t participate in the transaction. There are occurrences where the goods or services are consumed, but later the […]
What is merchant services, and is help available?
We understand that you want to focus on your core business and don’t want to devote staff to managing and fighting chargebacks. To ensure that you can do this, we offer a range of merchant services that make your day-to-day more effective and productive. We can manage and handle your chargeback prevention and representation. This […]
What can processors do to prevent chargebacks?
In addition to providing verification assistance through programs like Address Verification Service, MasterCard SecureCode, Verified by Visa, etc., processors can work with merchants to develop policies that put limits on card usage, such as the number of times it can be run through over a given period, or maximum amount of purchase. Processors can also […]
What are some tips for protecting against fraud?
Fraud prevention is a must for every merchant. Ignoring fraud or hoping it won’t happen to you can result in disaster for your business. To help protect your business from fraud, read on to learn about fraud and to find out how you can prevent fraud from ruining your business. What kind of fraud should […]
What are some of the ways to conduct order reviews?
Merchants can reduce fraud with thorough order reviews. The goal is to identify anything in the order or payment details that could potentially signify attempted fraud.* Some merchants conduct manual order-review procedures, but as sales volume increases, the time devoted to reviews can be overwhelming. An automated review process can reduce the time spent with […]
How can I prevent card-not-present chargebacks?
A card-not-present (CNP) transaction is when a cardholder makes a purchase away from the point of sale (online, phone, etc.), and the merchant doesn’t have access to the physical card used. While a cardholder dispute could come from not recognizing the charge on his or her statement (which can be relatively easy to resolve without […]