Monica Eaton-Cardone Delves into Her Background, Chargebacks, & Future of eCommerce
Chargebacks911 Co-Founder and COO Monica Eaton-Cardone sat down with ValueWalk.com founder Jacob Wolinsky last week to answer some questions about the current state of the eCommerce market. Through the interview, Monica delves into the current state of chargebacks, and where the market is headed next.
ValueWalk provides widely-read and cited investment news and coverage. Their beat includes hedge funds, asset management, value investing, and much more. The site analyzes business, politics, and tech trends, and how they might impact investors’ portfolios.
Monica and Jacob touched on a number of topics in the interview. They discussed everything from how Monica got involved with Chargebacks911, to common mistakes merchants make that cause chargebacks, to what lawmakers are doing and even what we need to address the problem. Speaking of the “long overdue” overhaul of the chargeback process, Monica had this to say:
“…chargebacks were developed for a pre-eCommerce age, and aren’t adapted to the demands of a dynamic, online marketplace. Recent policy changes like Visa Claims Resolution and Mastercard Dispute Resolution are positive developments. However, they’re not enough on their own to contend with billions of dollars in annual losses due to chargeback abuse.”
The point Monica wanted to drive home is that the chargeback process can and must change. “One idea I’ve proposed in the past is to establish a consumer ‘dispute credit score.’ This would make it easier to identify and flag potential chargeback abuse at the card scheme level.”