How To Neglect Friendly Frauds Or Chargebacks?

E-commerce business has increased a lot, that many people are having benefits from this. Increasing the profits is okay but when it comes to frauds it happens just double of that in a few cases.

Every e-commerce business holder should have a sharp eye on the fraudsters. Friendly Frauds are hard to find but not easy to escape.

What are friendly frauds? 

Friendly Frauds (FF) are the one, when a customer purchases the product through their credit card and requests the bank to issue the chargeback, against the purchase made by him/her.

Where else the merchant faces a lot of loss if the chargeback is not into his favor. Here are a few common causes which a merchant faces.

1. The product or service is not delivered.

2. The purchase is not as it is which was described.

3. The cardholder is not aware of the purchase.

These,3 categories are the most common a situation which a merchant faces it, and suffers a loss such as product loss, bank fees and the penalties as well.

Few practices to prevent chargebacks?

1.      Use of Payment Check Out Properly.

Add some strong legal ends to the payment page, make the page full of agreement that the customer think twice to do a fraud.

2.      Use methods of capturing transactions:

Merchant must capture more transaction-specific details as to avoid the challenges in the chargebacks and if the action is taken, you will be ready to show the documents to the bank.

3.      Get help from Professionals:

All in all, there is a work in which everyone specializes. Professionals should be hired who knows in and out of the chargebacks and policies regarding various businesses. They clearly specialize in avoiding, fighting and reducing chargebacks.

Chargeback Expertz

Chargeback Expertz gives away the best and discards the unnecessary fraudsters which affect the business. For more information call: +1 855-465-4723Or Email: app@chargebackexpertz.com 

Strict Detection and More Profit.

Owning a business involves the risk of fraud especially, e-commerce business where transactions are done virtually, known as CARD NOT PRESENT. CNP payments increase the risk of fraud exponentially.

3 highly common causes of chargebacks.

• The charge or business name is unrecognizable on credit card statements
• Usage of your credit card without any intimation to the owner.
• The delivered goods or services is not actual as described or the good received is damaged.

In order to detect chargebacks, you must combine machine learning and a human interception. Machine learning will ensure data has been quickly analyzed, checked and balanced.

What can you do to prevent chargeback? 

Customer service – Expect excellence from your employees. Train them to be effective, efficient and empathetic when a customer concern arises.

Train your Employees – Invest time in their business knowledge and ability. Actively enforce relevant policies and procedures.

Know Your Customer – Monitor customer behavior and activity by calling or emailing the customer by which you can further confirm the security of sales.

Keep up to date and secure technologies – Always be informed of technological advancements to keep your business’s and customer’s safety.

Chargeback Expertz

Prevention and Detection of chargebacks will protect your e-commerce business’s profitability. For more information, feel free to contact Chargeback Expertz and get the information related to the various Chargeback Frauds and how to prevent them. Furthermore, Chargeback Expertz also provides assistance with the Representment and Chargeback Reversal. Contact now at the toll-free number +1 855-465-4723 or chat via Skype by visiting www.chargebackexpertz.com

Identification Of Fraudulent Charges

Frauds are so common in E-Commerce business so; a merchant has to pay a lot more attention towards the working of the business.

Any criminal deception intended to result in financial gain is a fraud. Fraudsters do many things to gain profit into their pockets.

Stealing the credit card owner’s information is the first thing they attack. They basically, ask the banks to issue the card again against the information they get it from their side and ask the bank to issue the new card.

Though there are technologies build as per the days are growing faster merchant gets easily effected by the infections of fraud.

CreditFrauds And Their Types:

Having a look at what are types of frauds which happen in credit cards.

Double Offering Of The Receipt:

The moment when the cardholder gets double receipt against the single purchase.

In-house trust breakers:

When a merchant’s employee works with the fraudster to defraud banks.

Assets Takeover:

When a credit cardholder innocently and unwittingly gives personal information (such as a home address, mother’s maiden name, etc.) to a potential fraudster, who contacts the cardholder’s bank, reports a lost card on behalf of the cardholder and obtains a new card in the victim’s name.

CNP (Card Not Present) Fraud:

If someone knows the expiry date and account number of your card, they can commit CNP fraud against you. This can be done through a phone, email or the Internet. It essentially means that somebody uses your card without having physical possession of it.

Chargeback Expertz

Chargeback Expertz a hub where you can find an expert’s team sitting just to educate you and give you a proper guidance about the frauds which a merchant goes through. Jump in the pool of profit. 

Call us at

PHONE: +1 855-465-4723   EMAIL: app@chargebackexpertz.com.

Catching Chargebacks And Chasing Them Till They Die

Chargebacks are the horrible nightmares!!! Merchants need to figure out how to manage them with proper plans and strategies. Take a deep breath calm down Chargeback Expertz has a full flashed team to support you in your hard times.

FraudsAnd Their Masks!!

Chargebacks have a problem with their personality. They have a double face with them, you never know which chargebacks are genuine.

An e-commerce credit card fraud occurs when the information is held loose from the side of a cardholder or someone steals the data of the card.

Thieves think they are clever; they always try to give less information about themselves. He attempts to give false information about him.

Though there maybe security, but they're always is an opportunity for fraud. Fraudsters find one or the other way to rip you off your money.

Credit Cards Related Issues

E-commerce always invite frauds along with it by default. Credit Cards are one of them. Credit cards deal with many types of fraudsters in today's world.

1.Account Hackers:

The moment when the cardholder gives his information to the potential fraudster, which in the return goes to the victim’s banks and files a complaint about losing the card so to get a new card against it.

2.Multiple Imprints:

When a single transaction is recorded multiple times on credit card imprint machines.

3.CNP (Card Not Present) Fraud:

If someone knows the expiry date and account number of your card, they can commit CNP fraud against you. This can be done through a phone, email or the Internet. It essentially means that somebody uses your card without having physical possession of it.

4.Collusive Merchants:
When a merchant’s employee works with the fraudster to defraud banks.

Chargeback Expertz

Chargeback Expertz  a team which works on the behalf of the cardholder just to give online security and card prevention services so that no fraudster can knock the door.

Call us: 

PHONE: +1 855-465-4723

EMAIL: app@chargebackexpertz.com