Chargeback fraud happens when a consumer makes false claims to get a payment back using the chargeback process. It is also known as friendly fraud because the person scamming a business is often a customer who legitimately purchased an item from them.
Chargebacks protect consumers who make non-guaranteed payments, such as debit and credit card or SEPA Direct Debit payments. It helps them get their money back in case of an issue, such as not receiving their goods or being charged incorrectly.
But fraudulent chargebacks happen when a consumer secures a refund by making a dishonest claim, such as lying about not receiving their goods or not recognising a charge on their card.
Whether fraudulent or not, chargebacks cost your business money.
In fact, chargebacks can cost you more than double the transaction amount for each case you have to deal with. And data shows that ecommerce fraud will cost businesses just under €50 billion globally this year alone.
So, knowing how to prevent and fight fraudulent chargebacks is vital.
This guide shows you how, so you can reduce costs, save time, and ensure your business is always protected.
Chargeback fraud happens when a consumer makes false claims to get a payment back using the chargeback process. It is also known as friendly fraud because the person scamming a business is often a customer who legitimately purchased an item from them.
Chargebacks protect consumers who make non-guaranteed payments, such as debit and credit card or SEPA Direct Debit payments. It helps them get their money back in case of an issue, such as not receiving their goods or being charged incorrectly.
But fraudulent chargebacks happen when a consumer secures a refund by making a dishonest claim, such as lying about not receiving their goods or not recognising a charge on their card.
Whether fraudulent or not, chargebacks cost your business money.
In fact, chargebacks can cost you more than double the transaction amount for each case you have to deal with. And data shows that ecommerce fraud will cost businesses just under €50 billion globally this year alone.
So, knowing how to prevent and fight fraudulent chargebacks is vital.
This guide shows you how, so you can reduce costs, save time, and ensure your business is always protected.
Chargeback fraud happens when a consumer makes false claims to get a payment back using the chargeback process. It is also known as friendly fraud because the person scamming a business is often a customer who legitimately purchased an item from them.
Chargebacks protect consumers who make non-guaranteed payments, such as debit and credit card or SEPA Direct Debit payments. It helps them get their money back in case of an issue, such as not receiving their goods or being charged incorrectly.
But fraudulent chargebacks happen when a consumer secures a refund by making a dishonest claim, such as lying about not receiving their goods or not recognising a charge on their card.
Whether fraudulent or not, chargebacks cost your business money.
In fact, chargebacks can cost you more than double the transaction amount for each case you have to deal with. And data shows that ecommerce fraud will cost businesses just under €50 billion globally this year alone.
So, knowing how to prevent and fight fraudulent chargebacks is vital.
This guide shows you how, so you can reduce costs, save time, and ensure your business is always protected.
Chargeback fraud happens when a consumer makes false claims to get a payment back using the chargeback process. It is also known as friendly fraud because the person scamming a business is often a customer who legitimately purchased an item from them.
Chargebacks protect consumers who make non-guaranteed payments, such as debit and credit card or SEPA Direct Debit payments. It helps them get their money back in case of an issue, such as not receiving their goods or being charged incorrectly.
But fraudulent chargebacks happen when a consumer secures a refund by making a dishonest claim, such as lying about not receiving their goods or not recognising a charge on their card.
Whether fraudulent or not, chargebacks cost your business money.
In fact, chargebacks can cost you more than double the transaction amount for each case you have to deal with. And data shows that ecommerce fraud will cost businesses just under €50 billion globally this year alone.
So, knowing how to prevent and fight fraudulent chargebacks is vital.
This guide shows you how, so you can reduce costs, save time, and ensure your business is always protected.