Overview Chargeback fraud

-



1 overview

1.1 physical products
1.2 digital transactions
1.3 call center transactions
1.4 cost merchants





overview
physical products

an online merchant sells physical products cannot protect themself. way have concrete protection take imprint of card (and card readers/makers can duped), along photo id. signature, in addition information gathered online, can in resolution of chargeback disputes contractually no guarantee. also, merchant can request card security code on credit card fight card absent environment chargebacks. these 3 digit codes on backs of visa, mastercard, , discover cards, , 4 digit code on front of american express cards.


digital transactions

friendly fraud thrives in digital products market easier fraudsters succeed. common targets include pornography , gambling websites. attempts merchant prove consumer received purchased goods or services difficult. again, use of card security codes can show cardholder (or, in case of three-digit security codes written on backs of u.s credit cards, physical possession of card or @ least knowledge of number , code) present, entry of security code @ purchase not prove delivery made, online or via-telephone purchases shipping occurs after finalization of contract. proof of delivery difficult, , when cannot provided, cardholder gets product without paying it.


one method of combating friendly fraud create feature in product checks in merchant s database. if chargeback issued, merchant can tell product suspend service. tactic work digital subscription services or other online product requires updates or logins. merchant still charged fee incurring chargeback, not complete solution.


call center transactions

another common channel chargebacks mail order/telephone order (moto) payment processing through call center. in case, 2 others listed here, main problem card not present transaction. eliminate call center purchase chargebacks, call centers working make purchases more card present purchases.


when consumers walk store , buy something, typically swipe credit cards, confirm purchase amount, enter secret code (or sign name) , leave merchandise. card present purchase , fraudulent chargebacks in these situations non-existent.


agent-assisted automation technology available call centers allows customers enter credit card information, including card security code directly customer relationship management software without agent ever seeing or hearing it. agent remains on phone, there no awkward transfer interactive voice response system. agent can hear monotones. card present equivalent of swiping card.


before purchase submitted agent, purchase amount played consumer along last 4 digits of card. consumer asked confirm purchase providing verbal signature, recorded.


finally, email sent consumer purchase information , attached audio file of verbal signature.


cost merchants

a 2016 study lexisnexis stated chargeback fraud costs merchants $2.40 every $1 lost. because of product-loss, banking fines, penalties , administrative costs.








Comments

Post a Comment

Popular posts from this blog

Mobility.2C training and insignia Impi

-
zulu warrior in full regimental regalia, carrying large isihlangu war shield. c. 1860. upper body covered in cow tails, kilt of spotted cat, genet or civet skin , shins decorated cowtails. elaborate headdress consists of browband , face-framing flaps of leopard skin band of otter skin above. there multiple ostrich feather plumes , single upright crane s feather. shaka discarded sandals enable warriors run faster. move unpopular, objected killed, practice concentrated minds of remaining personnel. zulu tradition indicates shaka hardened feet of troops having them stamp thorny tree , bush branches flat. shaka drilled troops frequently, implementing forced marches covering more fifty miles day. drilled troops carry out encirclement tactics (see below). such mobility gave zulu significant impact in local region , beyond. upkeep of regimental system , training seems have continued after shaka s death, although zulu defeats boers, , growing encroachment british colonists, sharply curtailed r...
Read more

Expenses controversy Ian Gibson (politician)

-
in may 2009, gibson became embroiled in mps expenses scandal detailed daily telegraph, reported claimed flat in daughter lived rent-free before selling half market value. subsequently, barred standing in next general election disciplinary panel of labour party. believing after panel s decision position untenable , resigned mp (by traditional procedural device of becoming crown steward , bailiff of 3 chiltern hundreds of stoke, desborough , burnham), thereby forcing by-election. resultant by-election won chloe smith, conservative party candidate, majority of 7,348, reversing previous labour majority of 5,459.
Read more

11th century parish church of St Leonard Hythe, Kent

-
st. leonard s church shelf containing skulls in ambulatory below chancel, commonly inaccurately described crypt. the large 11th century church hill; tower @ eastern end destroyed earth tremor in 1739 , restored in 1750. chancel, 1220, covers processional ossuary (a bone store, more commonly found on continent) lined 2,000 skulls , 8,000 thigh bones. date medieval period, having been stored after removal, make way new graves. common in england, bones dispersed, , rare collection. several of skulls show marks of trepanning. 1 of 2 surviving ossuaries in england; other in holy trinity church in rothwell, northamptonshire. other curiosities worth looking for. on pillars on south side of nave medieval graffiti depicting ships. vestry door, on north side of nave, unlocked; open see fine norman doorway. has been suggested this, in late medieval times apparently on outer wall of church, once internal wall, earlier norman church stage higher hill. make existing chapel of st edmund (or north tra...
Read more