Monica Eaton of Chargebacks911® Offers Comment for Latest Episode
Merchants and solution providers aren’t the only ones making changes. Fraudsters are just as capable of innovation, explains Chargebacks911 COO Monica Eaton for the PaymentsJournal Podcast.
Monica sat-in with host Ryan to discuss how fraud has changed over the years, especially in the eCommerce environment. Although eCommerce and brick-and-mortar are part of the same omnichannel experience, they don’t experience fraud the same across channels.
New payments technologies are great and an important force to keep driving progress in the industry. But as Monica explains, they can’t always be full-vetted before implementation. “With all this new innovation, there’s no way new technologies can be properly tested,” she says. “That creates new loopholes…new opportunities for fraud.”
This leads to problems for in-house teams, who can’t be as responsive as the fraudsters attacking them. Some businesses respond to this reality by tightening standards. However, this is a double-edged sword, risking customer satisfaction for the sake of fraud prevention.
