Until recently, the true threat of chargebacks and friendly fraud on merchant sustainability has been significantly downplayed. What’s the real cost of chargeback and fraud spending though? That comes in the form of training and managing professionals to tackle chargebacks in-house. Chief Information Officer at Global Risk Technologies™, Monica Eaton-Cardone, is looking to a new study by Javelin Strategy & Research titled “The Impact of Fraud and Chargeback Management on Operations,” to determine trends in fraud spending.
“The chargeback problem, including friendly fraud, has been the neglected bane of the merchant world,” Eaton-Cardone remarks. However, neglecting chargeback security all together would have an even greater negative affect.
“Ongoing education is undoubtedly one of the most powerful tools in helping merchants combat the chargeback problem and we publicly welcome the new report from Javelin that helps illustrate the financial cost of going it alone.”
For Eaton-Cardone, as well as for the merchants included in the Javelin study, outsourcing is the answer. By delegating fraud and chargeback security and prevention to professionals, merchants are able to focus on what they do best; providing the highest quality goods and services to cardholders.
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