5 Chargeback Challenges for Businesses & How to Overcome Them

Chargebacks911® COO Monica Eaton Offers Dispute Tips for the PayJunction Blog

Monica Eaton, one of the world’s leading experts in the payment dispute space, offers her insight to readers in a recent feature for the PayJunction blog.

PayJunction is an industry-leading payment services provider. The company helps thousands of merchants conduct millions of transactions every day. As such, chargebacks are a primary concern for many of PayJunction’s core readership.

The pandemic has made chargebacks a more central topic of discussion for retailers. However, this is actually a problem that’s been growing for years. As Monica noted in the piece, challenges like identifying chargeback sources, preventing criminal activity, and fighting chargeback abuse are all major obstacles that need to be overcome. In response, she provides solutions to help with each of these challenges.

“Identifying the causes of chargebacks calls for an intelligent approach to detecting chargeback intentions,” she says, commenting on the problem of identifying chargeback sources. “You must examine each chargeback claim on an individual basis to determine the true motive. This will build up a substantial body of data over time which can be used to develop more dynamic defense tactics.”

Monica also insists that merchants need to view chargebacks holistically. They must take a wider view of the problem if they hope to actually prevent disputes.

“Stopping criminal fraud and friendly fraud aren’t distinct, unrelated questions. They need to be part of an integrated strategy to identify chargeback sources using machine learning and human oversight. Only then can you deploy the right tools and tactics to mitigate those threat sources.”

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