The payments ecosystem has evolved significantly over recent years. The rise in m-commerce, in-app purchases, same-day delivery, and subscription options has created an impersonal and disconnected relationship between consumers and merchants. This has had a two-fold impact on disputed transactions: consumers often don’t know who to contact when they have transaction disputes or inquiries, and […]
The transaction dispute problem is not slowing down. In fact, industry experts predict that chargebacks and transaction disputes will get worse before they get better. This is exactly why issuers must be proactive to avoid the costs, resource drain, and the possible increase in customer attrition caused by unnecessary and fraudulent chargeback disputes. Due to […]
Chargebacks shouldn’t have to be part of the of the cost of doing business, but for many merchants this is their reality. The payments industry uptick in chargebacks and their associated costs have made it very challenging for merchants to stay true on their path of success. Because merchants absorb the majority of costs resulting […]
There’s no question that the chargeback process is complex and needs fixing. The impacts of chargebacks go beyond merchants and issuers, extending to customer service personnel and consumers. It takes a commitment by merchants and issuers to open the lines of communication and a willingness to become true partners to solve the industry’s $31 billion […]
Chargebacks are a $31 billion problem that impact merchants, issuers, and customers. From the customer’s general perspective, it may appear that merchants and issuers wield all the power when it comes to managing disputes. However, reality tells merchants and issuers that the true power player in this dynamic is the customer. The customer is the […]
Chargebacks are a problem for everyone involved in the dispute process – merchants, consumers, and issuers. The trickle-down effects of chargebacks extend well beyond a lost or refunded sale, with disgruntled customers and seemingly endless communication problems, increased operational expenses and reduced profits for merchants and issuers. In 2017, chargebacks amounted to a $31 billion […]
Strong customer relationships are the backbone of any business. When your customers are happy and satisfied, the more likely they are to come back with return business, share social media and word-of-mouth recommendations, and be more patient with merchant errors. An important key is to ensure that merchant errors and missteps don’t happen during the […]
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 […]
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 […]
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 […]