According to a recent study by BlueSnap partner Chargebacks911, friendly fraud, or chargeback disputes filed by a cardholder without a valid reason, have increased 23% over the last three years. When someone successfully commits friendly fraud against your business, you lose out on the goods purchased as well as the money from the purchase. In fact, this year alone, Chargebacks911 says eCommerce fraud is expected to cost businesses $20 billion globally.
This week, we decided to ask business leaders if they are concerned with friendly fraud. Here are the results:
- 7 Mistakes Merchants Make When Fighting Chargebacks
- Chargeback vs. Refund: What Is the Difference and How Do You Manage Them?
- 9 Simple Strategies to Manage False & Fraudulent Chargebacks