Chargebacks911® COO Offers Tips on How to Protect Your Business
Monica Eaton offered her invaluable insight for a recent feature on Business Know-How, drawing on her extensive knowledge of online fraud to help merchants defend themselves.
Business Know-How offers the practical information and strategic needs of home office and small business owners, managers and consultants from all sectors. The site helps small businesses get started, operate, manage, and enhance their business potential.
Of course, one of the greatest obstacles to starting an online business is protecting your revenue from fraud. But, according to a study cited in the article, more than four out of five fraud attacks occur online. But, as Monica points out, criminal fraud isn’t the biggest threat facing sellers. Instead, friendly fraud represents anywhere between 60-80% of all chargebacks.
Fortunately, there are ways to handle chargebacks, even those arising from friendly fraud. The key is to identify the true chargeback trigger.
“The merchant needs to get all the information available about the transaction from the bank, then assemble a compelling case for representment,” Monica explains. “That will include evidence demonstrating the transaction was legitimate, plus supporting documentation to give it context.” Check out the full post below.
