Blog | Industry Insights
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How to Prevent Friendly Fraud Under VCR
With every improvement made in security and customer knowledge, one threat remains constant: friendly fraud. Friendly fraud is the chargeback threat that can slowly but surely eat away at merchant confidence and profits. Some merchants accept that friendly fraud and chargebacks are simply the cost of doing business. Don’t give in to the fraudsters and…
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Fine Points of Customer Service
Effective customer service is no longer simply a nice-to-have. To succeed in this hyper-connected digital age, it must be a top priority for every merchant and brand. Making customer communication and satisfaction a priority goes a long way to prevent chargebacks. First, think about the common reasons customers give for filing a chargeback. Often, customers…
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Managing CRM to Prevent Disputes
Packages sometimes get lost. Products don’t always live up to expectations. Consumers forget they made a purchase. In other words, disputes happen. That’s why it is so important for merchants to devote as much attention to customer service as they do to designing their products and website. Merchants who emphasize customer relationship management will promote…
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Visa Claims Resolution and Merchant Liability
April always comes with anticipation, signaling an end to winter and warmer days ahead. Better weather motivates consumers to shop at outdoor markets, refresh their wardrobes, and spruce up their homes. This all points to good things for merchants. However, April 2018 brings a level of uncertainty with the rollout of the new Visa Claims…
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The Latest Data Breach: How to Protect Against Future Attacks
The recent news of hackers breaching the payment systems of Saks Fifth Avenue and Lord & Taylor department stores, stealing sensitive credit card information, is just one in a recent series of attacks affecting consumers. This comes on the heels of a disclosure from Under Armour that a hacker stole data from its MyFitnessPal app,…
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Shared Data: The Future of Fraud Prevention
Friendly fraud is on the rise. Chargeback costs eat away at revenue and productivity for merchants and issuers, and the threat of chargeback fraud is a constant worry. It’s time to end the practice of merchants and issuers operating in silos. Despite these liabilities, merchants and issuers continue to operate independently. In the current chargeback…
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VCR: Importance of Merchant-Issuer Collaboration
The changes introduced by the Visa Claims Resolution (VCR) program are right around the corner. With VCR coming into effect in April, merchants and issuers need to rethink how they currently manage and respond to chargebacks. The VCR program is designed with the intent of streamlining the transaction dispute process, thereby easing the burden on…
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Taking Chargebacks and Churn Out of Subscription Services
Subscription services have become a popular option for young consumers. What could be better than subscribing to services that promise home delivery of food, razors, clothing, luxury goods, makeup, video games, beer and wine, or underwear? A boon for consumers and for merchants – or is it? Merchants cannot ignore the looming threat of subscription…
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How Will Visa Claims Resolution Impact Your Business?
Changes are coming to how Visa transaction disputes and chargebacks will be processed and managed. With the new Visa Claims Resolution (VCR) program, Visa hopes to reduce the timeframes associated with chargebacks, thereby reducing merchant, issuer and Visa costs, resource drains, and the number of overall transaction disputes. While promising for merchants, change can be…
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Verifi Security Updates
Security – specifically Internet security – is very much top-of-mind for anyone involved in payments. Whether you’re an online merchant building an omnichannel presence, or a company like Verifi that provides payment services and fraud protection to merchants, having confidence in your communications security platform is vital. It’s this keen attention to security that drives…
