Monica Eaton’s Latest Guest Post for Newsmax
We’ve talked extensively about the impact of chargebacks on eCommerce merchants. How chargebacks negatively affect other parties involved in the transaction process, though, often goes overlooked. In her latest guest post for Newsmax, Chargebacks911® COO Monica Eaton explains how acquirers can mitigate the damage.
Newsmax is a leading new outlet for personal finance and related topics. The site covers a diverse range of topics including health, finance, world news, and much more.
“Merchants suffer the brunt of these losses,” Monica says. “However, financial institutions lose billions of dollars each year as well due to lost processing costs, card network fees, and margin compression.”
This isn’t a new problem; chargeback costs have been on the rise for financial institutions for years. The problem is that conventional tactics to manage online fraud haven’t addressed the problem. There is also no comprehensive solution for chargebacks on offer anywhere in the payments space. In response, Monica suggests that AI may offer a fix for acquirers in need.
“An AI strategy for financial institutions could provide a single integration to streamline processes, making for a more efficient and scalable solution. It would provide greater data insight to fill the gap between acquirers and merchants; something that is not currently possible under existing legacy infrastructure.”
