Chargebacks911® COO Featured on Global Banking & Finance Review
Although 2022 is drawing closer, we have yet to get out from under the shadow of Covid-19. It’s not all bad news, though. As Monica Eaton explains in her latest guest feature for Global Banking & Finance Review, plenty of opportunities lie ahead. Businesses only need to learn where to look.
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As we saw in the recent 2021 Chargeback Field Report, the influence of Covid-19 led to a surge in both criminal fraud and friendly fraud. At the same time, one-third of businesses said the pandemic had a “positive” impact on their bottom line.
“We must consider the fact that, while many consumers did pare back spending during the shutdowns, a significant portion of consumer activity simply shifted online,” Monica says. “Businesses that were already well-positioned to take advantage of a surge in purchases through digital channels were able to capitalize on this.”
Although challenges persist, there are still many opportunities left to flourish. The key is to find new ways to optimize processes.
“A strategy that employs a combination of machine learning and human forensic expertise offers the best return on investment. It allows merchants to automate some processes, while still putting the subjective elements of chargeback management under human oversight.”
