The True Cost of Fraud for Merchants
Posted by Global Risk Technologies™
LexisNexis has released its annual True Cost of Fraud study, revealing a staggering 94% increase in fraud losses for merchants since 2014. Merchants lost an average of 1.32% to fraud and fraud related costs this year, with mobile commerce and international retailers being hit the hardest. Though investments into fraud protection are being…
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New Visa chargeback regulations to hit in the New Year
Posted by Global Risk Technologies™
Visa has announced a number of updates to its merchant chargeback and fraud monitoring programs, which will all come into effect in the New Year to ensure global consistency across program thresholds, timelines, fees and non-compliance assessments. This uniformity is being introduced in a bid to offer aquirers a more efficient means of…
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Chargebacks expected to soar as EMV liability shift comes into play
Posted by Global Risk Technologies™
Chargebacks are expected to rise across the US, Europe and the UK as the liability shift for EuroPay, Mastercard and Visa (EMV) card security comes into effect in the US today. Businesses that don’t upgrade their point-of sale terminals to EMV compliant machines will now be held responsible for any fraudulent transactions that…
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UK Ecommerce Growth Triggering Opportunities for Fraud
Posted by Global Risk Technologies™
Retail Gazette reported this week that UK ecommerce spending rates are set to reach an estimated £60 billion by 2016, fuelled by an increase in multichannel shopping. Consumers choosing to shop via mobile and tablet devices are adding to growing levels of ecommerce by spending around £8.9 billion a year. With PC-only shopping…
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Chargebacks: Merchant and Customer Perspective
Posted by Global Risk Technologies™
The Telegraph reported this week about the nature of chargebacks and how they may be used by consumers wanting to regain unauthorised funds online. Chargebacks offer a vital tool to customers if a merchant is unable or unwilling to refund an unauthorised transaction. They can occur as a result of processing errors or…
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The Paypers: “Chargebacks, friendly fraud and their impact on merchants”
Posted by Global Risk Technologies™
Monica Eaton-Cardone, Global Risk Technologies™: “Chargebacks, friendly fraud and their impact on merchants” Monica Eaton-Cardone, CIO and Co-Founder of Global Risk Technologies™, speaks to The Paypers about the impact of friendly fraud and shares her advice on how to help mitigate this risk: http://www.thepaypers.com/interviews/monica-eaton-cardone-global-risk-technologies-chargebacks-friendly-fraud-and-their-impact-on-merchants-/760101-38
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The Paypers: Global Risk Technologies™ warns on rise of ecommerce fraud in Europe
Posted by Global Risk Technologies™
Global Risk Technologies™, a chargeback compliance technology company, has urged caution among online merchants following recent plans from the European Commission (EC). The EC has launched 16 proposals, to be implemented by the end of 2016, aiming to eliminate barriers to online trade and help stimulate ecommerce across the continent. In the UK…
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Retail Fraud: Ecommerce and fraud to rise in the single digital economy
Posted by Global Risk Technologies™
Global Risk Technologies™, a technology company specialising in chargeback compliance, today urges caution among online merchants following recent plans unveiled by the European Commission (EC) that aim to increase EU member states’ economies by £308bn a year. The EC has launched 16 proposals, to be implemented by the end of 2016, aiming to…
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Global Banking and Finance: 5 steps to confront and overcome the hidden risk to the merchant world
Posted by Global Risk Technologies™
Around $10bn lost to friendly fraud globally, versus an estimated $2bn to ID fraud! By Monica Eaton-Cardone, CIO and Co-Founder of Global Risk Technologies™ Successful merchants know where their money comes from and where it goes. They know the opportunities for the business and they know the risks. But how many merchants recognise…
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European Commission breaks down ecommerce barriers to provide £308bn boost
Posted by Global Risk Technologies™
The European Commission (EC) this week revealed plans for regulatory reform that aims to increase member states’ economies by £308bn a year by stimulating ecommerce. The EC has launched 16 proposals, to be implemented by the end of 2016, to try to eliminate barriers to online trade. From more affordable parcel delivery, to…
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