Industry View / How Technology Adds to the Bottom Line

Banks and merchants lose billions every year to fraud and chargebacks, yet emerging technologies are turning the tide.

When a customer sees a charge that they don’t recognise on their credit or debit card statement, often their first reaction is to contact the bank directly, requesting the transaction to be reversed. These disputes often lead to a refund or “chargeback” being issued, as it is often not deemed cost-effective for banks to open an in-depth investigation, and they lack the information to legitimise the sale or satisfy the cardholder promptly…
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