Every merchant knows that the dramatic growth in digital commerce has brought in its wake an equally rapid surge in the prevalence of card not present (CNP) payment fraud. The Crippling Costs of Chargebacks and Friendly Fraud They know, too, that the process of disputing chargebacks and trying to prevent so-called “friendly” fraud is difficult, time-consuming, and […]
How to Slash Your Chargeback Rate with Mastercard’s Consumer Clarity Program
Disputed transactions – often leading to costly and time-consuming chargebacks – are a significant problem for merchants in all sectors of business. The causes are various, and some disputes are tough to prevent or resolve. But a surprisingly large number are due simply to customers failing to recognize legitimate transactions that appear on their credit or debit […]
E-Commerce 2022: The Most Common Fraud Types You May Still be Missing
Sadly, customer and third-party fraud is something that all businesses have to contend with. And despite huge advances in prevention technology, it seems that bad actors are often still a step ahead of honest merchants. But as surprising as it may seem, industry studies suggest that many businesses do not even know the types of […]
How a Formal Chargeback Policy Can Significantly Reduce Your Chargeback Costs
With the number and cost of chargebacks increasing all the time, taking steps to reduce their impact is an essential task for all merchants. There are many measures and increasingly sophisticated tools that can be used. But one of the simplest and most effective is also one of the most frequently overlooked. This is the […]
How to Reduce Fraud Without Increasing Checkout Friction – the Promise of 3DS 2.0
With another holiday shopping season looming, the increasing threat of “card not present fraud” is front of mind with merchants of all types. It’s always been a problem for e-commerce merchants. But the surge in popularity of models such as BOPIS (buy online, pickup in-store) means that retailers of physical goods from old-fashioned brick and […]
Account Takeover Fraud – How it Happens and How to Prevent It!
E-commerce businesses are looking forward to a COVID-19 related boom during the 2020 holiday season. But the expected 35% increase in online sales compared with the same period in 2019 will also be a great opportunity for fraudsters – particularly those who specialize in account takeovers. What is Account Takeover (ATO) Fraud ATO is the […]
MasterCard’s Excessive Chargeback Merchant Program (ECMP) — What it Means for You
First announced in April 2019, Mastercard’s Excessive Chargeback Merchant Program (ECMP) imposes significant financial penalties on merchants that incur what the network regards as unusually high levels of chargebacks. It might seem very unfair. Particularly if you’re one of the vast majority of businesses that try to do the right thing by their customers, but […]
How to Use AI to Protect Your Business against Fraud
Rapidly developing payment technologies offer great opportunities for businesses. But they’re also very tempting targets for fraudsters. Fraud Prevention – Why the Old Ways No Longer Work And there’s no doubt that criminals are becoming ever bolder and more sophisticated in their attempts to steal from both merchants and customers. Unfortunately, therefore, the old rule-based […]
New Solutions Put Merchants Back in Control of Chargebacks
As a merchant, you’ll be only too well aware of the costs of chargebacks. And you know that those costs go far beyond fees and lost merchandise. Every chargeback you incur takes hours to process or contest. And you stand to lose not just the value of the disputed sale, but also the cost of […]
Pandemic or no Pandemic: You Can’t Afford to Ignore the Trend to Contactless Payments
Contactless payments have been commonplace in Europe and the UK for some years now, but take up in the US had been relatively slow until the advent of the pandemic. Now, though, the trend towards contactless is accelerating rapidly as merchants, issuing banks, and major networks race to respond to customers’ desire for safer payment methods. How […]