How do you know how much fraud prevention is enough? Payment fraud if a rampant problem on the internet that is only expected to grow. As fraud prevention strategies and technology improve so does the sophistication of fraudsters. Merchants need to act before fraud happens, but not entrench themselves in set solutions. Jeremy Waxman, our […]
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 […]
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 […]
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 […]
Transaction and Payment Disputes? Get the Complete Chargeback Management Guide What’s your chargeback risk? When thinking about transaction and payment disputes, it helps to understand the flaws in the process as well as the costs that compound every step of the way. Verifi’s Complete Chargeback Management Guide provides relevant insights on today’s payments and chargeback […]
The Chargeback Triangle The Payments Industry’s $31 Billion Problem Commissioned by Verifi, this groundbreaking research study provides a detailed view of the $31 billion broken chargeback process that impacts consumers, merchants, and issuers. The Chargeback Triangle examines the experiences and perspectives of consumers, merchants, and issuers as they relate to payment and credit card chargebacks. This […]
Chargebacks & Disputes FAQ 16 ArticlesChargebacks Cardholder Disputes Why did I receive a chargeback? How do billing and shipping mismatches cause chargebacks? How to Dispute a Chargeback? Reasons and Reason Codes What are MCC codes? Reporting and Investigation How does a chargeback get reported? What are authorization codes? What is a chargeback ratio? 12 ArticlesCredit […]
So much of life is routine. On most days, many of us wake up at a set time to go to a job; we work a planned schedule; we commute a predetermined route both ways. On top of that, we program our morning coffee to brew at a certain time, set thermostats to turn on […]
Dispute representment, the process of responding to chargebacks to recover revenue, places significant demand on sellers’ internal resources. The process can be time-consuming and costly, where directing expenses on staff, information gathering, and communications with multiple parties would be better directed toward product and service development to grow a greater customer base. Fortunately, Verifi’s pre-dispute […]
Although the holiday shopping season starts earlier every year, the transaction frenzy really begins with the sales juggernaut of Black Friday and Cyber Monday. According to an Adobe Analytics survey, 70% of responding U.S. consumers planned to shop over this year’s four-day period beginning the day after Thanksgiving. For the second year in a row, […]