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When it comes to chargeback prevention, there are numerous options available to merchants. Some tools focus on targeting a specific type of fraud, while others are better at tackling chargeback reduction by eliminating errors or policy missteps. Of course, developing a strategy to manage chargeback isn’t easy; in fact, many merchants will struggle with this process. The chargeback process is subje…

The new Visa Rapid Dispute Resolution (RDR) service allows merchants to issue refunds to customers and avoid many associated chargeback costs. Some issuers are already working with Visa RDR as of this writing. However, the vast majority of issuers and acquirers are expected to go live in April 2021 alongside Visa Resolve Online. Banks should familiarize themselves with the new process before the t…

The digital goods market has seen a huge sales surge in recent months. While this might be an outward sign of a booming business, increased popularity doesn’t come without challenges. In this post, for instance, we’ll take a look at the growing problem of digital goods fraud, and how FIs can help manage this threat. Where Fraud Comes into Play The phrase “digital goods,” can refer to any non-tangi…

The holidays are typically a time when most businesses experience peak sales activity. However, the ongoing pandemic has disrupted the flow of commerce around the world. In the UK, for example, a second lockdown has forced all nonessential shops to close, allowing only delivery and click-and-collect options. These and other financial difficulties will likely result in the closure of some businesse…

Friendly fraud occurs when consumers dispute payment card charges without a valid reason to do so. Instead of first trying to obtain a refund through the merchant, the consumer leverages the chargeback system by going directly to the issuing bank. Those who engage in friendly fraud are often unaware of the negative impact their actions will have. They believe that filing a chargeback is simply ano…

When a merchant is placed on the MATCH list, it indicates that they pose an above-average threat to acquirers. Essentially, the MATCH list functions as a warning system for financial institutions against false merchant account information. Merchants who end up on the MATCH list face greater challenges when attempting to open a new account. In fact, they may be unable to secure payment processing a…