Monica Weighs in on Facebook’s Fraud “Scandal” for PaymentsSource

Monica Weighs in on Facebook Fraud

Chargebacks911® COO Says Social Media Giant Isn’t Only Party to Blame

Monica Eaton-Cardone offered her insight on Facebook’s latest PR crisis in a new guest feature for PaymentsSource’s PayThink imprint.

PayThink is the column reserved for payments sector thought leaders to comment and share insight on top news stories. As one of the world’s leading experts on chargebacks, Monica’s insight on current struggles for Facebook provides a unique and invaluable perspective.

As some media outlets reported, Facebook actively discouraged game developers on their platform from trying to prevent family fraud in their games. So, when youngsters racked up hundreds, or even thousands of dollars in unauthorized in-game purchases, the company naturally took the heat.

Monica doesn’t absolve the company of blame. However, she suggests their behavior isn’t as bad as some make it out to be. In fact, given the current state of the payments sector, it could be a very reasonable response.

“Simply stated, we have the classic formula at play, of supply and demand,” Monica says. “The demand is for instant gratification, no additional clicks, immediate results, and consumers are driving this. Whoever can supply this will win the business, regardless of whether the practice is viewed as unethical…Is this culture feeding the beast?”

Monica suggests everyone needs to play a part in crafting a solution. Regulators, card schemes, banks, and even consumers bear some responsibility. Until then, the problem will only continue spiraling out of control.