Key insights from Chargebacks911 were cited in a new article from eCommerceBytes Co-Founder and Editor Ina Steiner.
For more than 15 years, eCommerceBytes has been one of the world’s leading source for eCommerce news and insight. Although the move to Visa Claims Resolution, or VCR, is still more than a year away, the new site is right start raising awareness of the change.
The article in question covers the breaking story about Mastercard’s new partnership with Salesforce through the subsidiary, Ethoca. The aim of this piece is to address some long-established gaps and vulnerabilities in the payments space through new technologies.
“...over the last 50 years, loopholes have allowed abuse of the system, leading to a rise in friendly fraud attacks,” the article quotes from Chargebacks911. The piece also reminds readers that we’ve compiled plenty of resources to help merchants better understand the causes, costs, and consequences of chargebacks on the Chargebacks911 blog.
“The report cited data from Visa suggesting that 75% of all chargebacks are likely cases of friendly fraud, estimating that a third of consumers claim non-delivery or damaged merchandise as the reason when committing friendly fraud,” the article further notes.
