“How e-retailers can cut their losses from ‘friendly fraud’ chargebacks”
Over the last two years, the rates of “friendly fraud” incidents—when customers make a purchase, receive the item or service, then dispute the charge and get an unwarranted refund—have grown 40%, says Monica Eaton-Cardone, CEO and co-founder of Chargebacks911, which helps e-retailers fight back against and this type of fraud.
There are a number of simple steps retailers can take to prevent fraud by normally law-abiding consumers, as opposed to professional criminals. However, in order to curb its growth, merchants must fight back when it happens, she says. Dismissing it as not worth the time to address only makes the problem worse, she says.
Read how online retailers can be in control over this new kind of fraud by clicking here>>http://www.internetretailer.com/2013/07/10/how-retailers-can-cut-losses-friendly-fraud-chargebacks
Internet Retailer focuses on solutions for challenges met by internet merchants.