Gary Cardone, CEO of eConsumerServices, provides an informative explanation of how to effectively address e-commerce chargebacks.
Implementing an automated system to alleviate challenges presents its own problems, says Gary Cardone, CEO of eConsumerServices, who recommends that banks and issuers bring in a third party to handle the process of handling chargeback fraud.
Cardone says partnering with a transaction dispute mediator is a viable solution that will help mitigate the rising costs of chargebacks and lower consumer dissatisfaction, and the need for the Consumer Financial Protection Bureau (CFPB) to step in.
Judgment is needed over disputes in order to resolve them quickly; otherwise, when merchants fight back and consumers become upset, automation becomes the problem, rather than the solution.
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