‘There’s No Such Thing as Friendly Fraud’ May Revolutionize Your Business
Despite the name, there is nothing friendly about friendly fraud. This pervasive source of revenue loss will steal as much as $30 billion a year from online merchants by 2020.
If you operate in the eCommerce space, you probably already know how friendly fraud can steal your sales revenue and merchandise, cost you more in fees, and even jeopardize your business. That’s why we’ve partnered with our friends at Kount to offer a free new eBook that will revolutionize your approach to chargeback management.
You Can’t Wait Another Day.
The chargeback process was first introduced in the early 1970s, long before the advent of eCommerce. The system is not adapted to the unique needs of the eCommerce market. Although originally meant as a consumer protection mechanism to enable a valid customer dispute, chargebacks are most often a tool for friendly fraud.
Consider the following real chargeback facts:
- Up to 86% of all chargebacks are probable cases of friendly fraud.
- 8 in 10 customers admit filing a chargeback out of convenience, instead of resolving an issue with the seller.
- 40% of consumers who commit friendly fraud for the first time will do it again within 60 days.
- Up to half of all friendly fraud is unintentional; the result of innocent customer confusion.
- Many chargebacks are “family fraud;” an unauthorized sale made by a cardholder’s family member.
No matter the source—whether intentional chargeback fraud, family fraud, or unintentional friendly fraud—the result is the same. That truth only makes the following point more critical:
20-40% of chargebacks can be prevented by simple adjustments to business policies and procedures.
That’s right. With a few easy tweaks to your business, you can reduce chargebacks, see rapid and dramatic ROI, and experience little-to-no impact on operations.
Don’t believe it’s possible? Don’t worry…we have a new step-by-step resource available to help you.
There’s No Such Thing as Friendly Fraud—a new eBook from Kount and Chargebacks911—offers you the tips and insights you need to start saving thousands:
- Learn the anatomy of a chargeback and how they work.
- Common roadblocks in the chargeback dispute process.
- Top 10 tips to fight—and win—against chargeback fraud.
- Substantially reduce your chargebacks in a matter of weeks.
Ready to learn more? Click below to download the new eBook
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