What is “Cyber Shoplifting” — & Can Retailers Stop it?Pel Faquiryan of Chargebacks911® Quoted in New Feature for NBC

August 2, 2023 | 1 min read


Chargebacks911 Chief Growth Officer Pel Faquiryan was recently asked to weigh in for a new feature for NBC affiliate KSN 16.

KSNF produces and airs more local news programming than any station in the Southeast Missouri market. The station has consistently delivered the top revenue share, while continuing to foster the station’s long standing commitment to local news and weather.

As noted in the piece, cyber shoplifting costs merchants billions of dollars every year. “I have a merchant that’s impacted by an unexpected refund,” Pel says. “So they don’t know that their balance looks different. Two, they’re out of product, right? So what does that do — it eventually increases prices in the market right for us long term.”

This can have a long term effect on the company’s operations. Ultimately, this could hurt your reputation with buyers, attracting scammers while driving away legitimate customers.

“If you are a merchant that consistently happens, and folks know that you are targeted, that can really impact you in terms of increasing your customer base,” Pel explains.

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