Chargebacks911 provides expert mitigation advice to merchants amidst COVID-19 chargebacks

Monday 26 October 2020 07:51 CET | News

Chargebacks911 has launched their ebook '50 Insider Tips for Preventing Chargebacks', which provides merchants with actionable steps to prevent chargebacks filed against their businesses.

The company has launched the ebook at a time when all industries have seen a sudden increase in chargebacks due to the COVID-19 pandemic. During initial lockdowns, businesses across all sectors moved into the online space in order to survive – and an increase in online spending usually results in higher rates of online fraud and chargebacks. Consequently, the bustling online space is now fertile ground for payment disputes and some industries are experiencing 10 times the amount of chargebacks than before the pandemic.

The ebook will allow merchants to benefit from the insight and experience Chargebacks911 has by highlighting key errors merchants have made – and continue to make – when providing services to their customers that result in chargebacks, along with advice about rectifying these issues. This includes guidance on bolstering customer service efforts to ensure buyers are happy, improving communication with customers to make sure there are no misunderstandings, revisiting policies and procedures, and best practices for marketing products online.

At the same time, the ebook reveals today’s key fraud trends that can result in chargebacks. It explains what preventative measures must be taken against criminal fraud in order to reduce payment disputes. It also tackles the issue of chargeback fraud, also known as friendly fraud – which accounts for between 60 and 80% of all payment disputes.

One of merchants’ biggest problems is distinguishing between friendly fraud and genuine chargebacks. This can pose serious problems for businesses as in order to mitigate chargebacks, their cause must be identified. If this isn’t done, merchants can end up refunding instances of friendly fraud, making them look like easy targets to those committing it, or they can find themselves disputing genuine claims and losing loyal customers in the process. The ebook will tell readers what the first steps are when it comes to spotting and stopping friendly fraud.

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Keywords: Chargebacks911, friendly fraud, chargebacks, security, fraud prevention, online fraud, ecommerce, merchants
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events