Monica Eaton Discusses Chargebacks on Popular Digital News Outlet
Chargebacks911 COO Monica Eaton is one of the world’s leading experts on chargebacks and payment fraud. She was recently invited to share her expertise with the folks at BoldTV as part of a feature on the topic.
Bold TV is a digital platform focused on financial and cultural literacy for the Millennial and Gen Z generations. They prioritize elevating diverse voices from whom you may not hear from in the mainstream media, as well as building bridges through bipartisan content. BoldTV celebrates entrepreneurs and highlights the importance of financial knowledge and empowerment.
Chargebacks are nothing new for those operating in the eCommerce environment. However, the problem has grown tremendously year after year, with many consumers now aware of the issue for the first time.
“Most of us didn’t even know what a chargeback was maybe five years ago, or maybe even two years ago,” Monica explains. “But, after this pandemic, I think we all know what it is,” referring to the uptick in eCommerce activity during the 2020 COVID-19 lockdown, which was accompanied by a surge in chargeback issuances.
Monica notes that chargebacks are important consumer protection, describing them as being like consumer insurance. However, they can easily cause problems for both merchants and consumers as well.
“Most people don’t realize this, but chargebacks are a pain point for everyone involved,” she says. Chargebacks mean lost revenue and added fees for merchants, but they can also mean hassle and confusion for cardholders as well.
