If you are a new merchant in ecommerce, you will likely find yourself asking “what’s a chargeback?” at some point. Chargebacks are an unfortunate reality for online merchants, though with the right knowledge and planning, chargebacks can be minimized. A chargeback is happens when a customer disputes a charge with their payment card issuing bank and the bank refunds the transaction to the customer.
Friendly fraud is anything but. In fact, the friendly fraud problem continues to grow and merchants are especially vulnerable during the holidays. In some cases, it accounts for 35% of fraud loss! Jared Ronski discusses this issue and lays out tips for merchants looking to cut fraud out of the holiday mix in 2018.