Report Finds 8 in 10 Merchants Have Seen an Increase in Friendly Fraud
We at Chargebacks911 recently published our biannual Chargeback Field Report, giving merchants and financial institutions vital insights from the front in the fight against chargebacks and fraud. Several media outlets, including Telemedia, have spotlighted the report’s striking findings.
Telemedia has been a leading name in news for the premium billing and value-added services sectors since 1995. They’ve built an unrivaled reputation for producing informed, lively, and commercially focused editorial content for businesses in these sectors.
“Merchants in every sector have faced unprecedented pressure over the past year, with shifting regulations, an uncertain economy, and the need to diversify sales strategies and channels,” comments Chargebacks911 COO Monica Eaton-Cardone in the piece. “This has had a major impact on chargeback and friendly fraud rates.”
The feature spotlights some of the most striking points from the report. For instance, it’s noted that 94% of merchants view friendly fraud as an issue for their business. However, fewer than 3 in 10 say they’ve been successful at fighting these disputes.
“These statistics are eye-opening for any merchant in this evolving climate,” Monica continues. “A lack of merchant understanding and support is not only a recurring problem, but a growing theme contributing to the dispute flywheel effect we have today.”
Click here to download the full report and gain invaluable insights on the current state of chargebacks and fraud.