As one of the world’s leading expert on chargebacks, reporter Kacy Zurkus asked Chargebacks911® COO Monica Eaton-Cardone to weigh-in on Facebook’s friendly fraud woes for CardNotPresent.com.
Card Not Present is one of the leading resources for news and insights in the card-not-present commerce space. They also coordinate the annual CNP Expo, one of the world’s top events for card-not-present merchants and vendors. As such, we’re always happy to collaborate and offer insight to help spread chargeback knowledge.
This latest post focuses on the controversy surrounding Facebook’s handling of chargebacks on their platform. But, as Monica points out, Facebook isn’t the only party who bears some of the responsibility.
“Consumers are more interested in removing friction from the checkout process than we are in trying to make sure we have a secure transaction,” Monica explains. “Visa and Mastercard have advertised how easy it is to file a disputes, so consumers realize how easy it is for the charge to go away.”
What we really need is an overhaul of chargeback regulations and practices. The current state of the industry demands a new approach; a strategy able to contend with the realities of the online marketplace.