Chargeback

Credorax Launches Cutting-edge Chargeback Prevention Solution

Retrieved on: 
Tuesday, July 20, 2021

Leading smart payments provider and merchant acquiring bank, Credorax, has announced it is upping the ante in the world of fraud protection and chargeback mitigation by launching a cutting-edge solution to preventing chargebacks.

Key Points: 
  • Leading smart payments provider and merchant acquiring bank, Credorax, has announced it is upping the ante in the world of fraud protection and chargeback mitigation by launching a cutting-edge solution to preventing chargebacks.
  • Credoraxs Chargeback PREVENTION marks a landmark partnership with Ethoca (owned by Mastercard), the leading, global provider of collaboration-based technology, and Verifi (a Visa solution), the leading provider of transaction risk management services for card-not-present merchants.
  • Chargeback PREVENTION is part of the Credorax Risk Management suite and protects merchants from fraud and chargebacks through every stage of the transaction lifecycle.
  • Credorax also provides dedicated training to help merchants become familiar with Credoraxs fraud and chargeback prevention tools and optimise them based on a merchants particular specifications.

Veteran Nets and Danske Bank Exec Appointed MyChargeBack VP of European Operations and Business Development

Retrieved on: 
Wednesday, July 14, 2021

Judith joins MyChargeBack from Nets, one of the top payment providers in Europe with more than 250 bank partners, where she served as senior vice president.

Key Points: 
  • Judith joins MyChargeBack from Nets, one of the top payment providers in Europe with more than 250 bank partners, where she served as senior vice president.
  • In that position she played a key role in the firm's development of products designed to help issuers reduce losses due to fraud.
  • Prior to Nets, she directed global fraud management at Danske Bank, one of the largest financial institutions in Scandinavia.
  • "Judith boasts an impressive background in chargebacks, dispute resolution, risk management, and fraud prevention," noted Michael B. Cohen, Vice President of Global Operations for MyChargeBack.

Accertify Launches Refund Abuse Protection

Retrieved on: 
Tuesday, June 29, 2021

ITASCA, Ill., June 29, 2021 /PRNewswire/ -- Accertify, Inc., a wholly owned subsidiary of American Express, announced the launch of Refunds Abuse Protection, a solution designed to help merchants identify and stop patterns of claims abuse.

Key Points: 
  • ITASCA, Ill., June 29, 2021 /PRNewswire/ -- Accertify, Inc., a wholly owned subsidiary of American Express, announced the launch of Refunds Abuse Protection, a solution designed to help merchants identify and stop patterns of claims abuse.
  • Refund abuse is estimated to have cost retailers $25B1 in 2020.
  • Refunds Abuse Protection from Accertify is designed to identify and stop these patterns of claims abuse.
  • To learn more about Refund Abuse Protection from Accertify, please visit www.accertify.com/refunds
    Accertify, Inc., a wholly owned subsidiary of American Express, is a leading provider of fraud prevention, digital identity, device intelligence, chargeback management, and payment gateway solutions to customers spanning diverse industries worldwide.

Gateway Funnel Pros Offers Solutions in Reaction to the Reported Spike in Online Friendly Fraud

Retrieved on: 
Wednesday, June 9, 2021

Alex stated that "According to a new report from MiDiGATOR, one of our main fraud-reduction partners, 77 percent of chargebacks coded as fraud are directly attributable to friendly fraud.

Key Points: 
  • Alex stated that "According to a new report from MiDiGATOR, one of our main fraud-reduction partners, 77 percent of chargebacks coded as fraud are directly attributable to friendly fraud.
  • "The social distancing policies of common carriers have certainly contributed to the increase in friendly fraud," Alex continued.
  • Alex's company, Gateway Funnel Pros, works primarily with users of the ClickFunnels website builder that offer high-risk or fraud-prone products and services.
  • According to the Gateway Funnel Pros website , a spike in chargebacks can put a company's ability to accept credit cards at risk.

Riskified Joins Shopify Plus Certified App Program to Expand its Support of Shopify Merchants with Increased Revenue and Reduced Costs

Retrieved on: 
Wednesday, June 9, 2021

NEW YORK, June 9, 2021 /PRNewswire/ -- Riskified ,the leading fraud prevention solutions provider today announced that they have joined the Shopify Plus Certified App Program to bring the Chargeback Guarantee to Shopify Plus enterprise merchants.

Key Points: 
  • NEW YORK, June 9, 2021 /PRNewswire/ -- Riskified ,the leading fraud prevention solutions provider today announced that they have joined the Shopify Plus Certified App Program to bring the Chargeback Guarantee to Shopify Plus enterprise merchants.
  • Enterprise merchants relying on Shopify Plus to sell anywhere can see their sales increase and costs lower when they go live with Riskified.
  • The Shopify Plus certification means that Riskified has been carefully vetted for the performance, support, and security that enterprise merchants demand.
  • "The Shopify Plus Certified App program is designed to meet the advanced requirements of the world's fastest-growing brands," said Fatima Yusuf, Director of Partnerships, Shopify.

Riskified Joins Shopify Plus Certified App Program to Expand its Support of Shopify Merchants with Increased Revenue and Reduced Costs

Retrieved on: 
Wednesday, June 9, 2021

NEW YORK, June 9, 2021 /PRNewswire/ -- Riskified ,the leading fraud prevention solutions provider today announced that they have joined the Shopify Plus Certified App Program to bring the Chargeback Guarantee to Shopify Plus enterprise merchants.

Key Points: 
  • NEW YORK, June 9, 2021 /PRNewswire/ -- Riskified ,the leading fraud prevention solutions provider today announced that they have joined the Shopify Plus Certified App Program to bring the Chargeback Guarantee to Shopify Plus enterprise merchants.
  • Enterprise merchants relying on Shopify Plus to sell anywhere can see their sales increase and costs lower when they go live with Riskified.
  • The Shopify Plus certification means that Riskified has been carefully vetted for the performance, support, and security that enterprise merchants demand.
  • "The Shopify Plus Certified App program is designed to meet the advanced requirements of the world's fastest-growing brands," said Fatima Yusuf, Director of Partnerships, Shopify.

8 Out of 10 Merchants Have Seen an Increase in Friendly Fraud, According to the 2021 Chargebacks911 Field Report

Retrieved on: 
Wednesday, June 2, 2021

As highlighted in the report, this behavior identifies a knowledge gap that is preventing merchants from confidently combating fraudulently filed chargebacks.

Key Points: 
  • As highlighted in the report, this behavior identifies a knowledge gap that is preventing merchants from confidently combating fraudulently filed chargebacks.
  • Eaton-Cardone continued: A third of merchants surveyed are unable to distinguish friendly fraud attempts from genuine claims, others simply dont look to contest them.
  • The 2021 Chargeback Field Report reveals just how prevalent it has become after being bolstered by the COVID-19 pandemic.
  • To download the full 2021 Chargeback Field Report, please click here .

Sift to Acquire Chargeback, Providing Merchants With Complete Protection Against Payment Fraud

Retrieved on: 
Tuesday, May 25, 2021

The two companies are coming together as both e-commerce growth and payment fraud are accelerating, and as the Fraud Economythe sophisticated and interconnected network of cybercriminals and their methodshas rapidly expanded.

Key Points: 
  • The two companies are coming together as both e-commerce growth and payment fraud are accelerating, and as the Fraud Economythe sophisticated and interconnected network of cybercriminals and their methodshas rapidly expanded.
  • With the addition of Chargeback to Sifts platform, merchants will gain access to a complete solution that addresses risk before, during, and after user transactions.
  • Additionally, Chargebacks pre-built connector within the Sift Connect integration hub adds to the rich data from integrations with leading payment service providers (PSPs) already available in the Sift App Gallery.
  • Preventing chargeback fraud is the critical last mile of stopping payment fraud entirely, said Marc Olesen, President & CEO of Sift.

Chargeback Gurus Releases Enterprise Chargeback Management Guide

Retrieved on: 
Monday, May 24, 2021

In addition, novel forms of fraud continue to proliferate, resulting in unexpected spikes in dispute and chargeback activity.

Key Points: 
  • In addition, novel forms of fraud continue to proliferate, resulting in unexpected spikes in dispute and chargeback activity.
  • "Merchants of all sizes can find it difficult to put staff and resources toward effective chargeback management, but dealing with it at enterprise scale carries its own set of challenges," said Suresh Dakshina, President of Chargeback Gurus.
  • To better equip enterprise-scale retailers with the knowledge they need to make informed choices about how to manage chargebacks, Enterprise Chargeback Management covers the current global economic impact of fraud and chargebacks, data on recent trends in the sourcing of chargebacks, the various challenges faced by enterprise merchants in dealing with chargebacks, the pros and cons of the major chargeback management solutions, and tips on measuring and optimizing the efficacy of those solutions.
  • Chargeback Gurus has been leading the fight against online fraud and chargebacks for more than fifteen years.

Spark Networks SE Reports First Quarter 2021 Financial Results

Retrieved on: 
Monday, May 17, 2021

b"1Contribution is defined as revenue, net of refunds and credit card chargebacks, less direct marketing.

Key Points: 
  • b"1Contribution is defined as revenue, net of refunds and credit card chargebacks, less direct marketing.
  • This includes: depreciation and amortization, share-based compensation, asset impairments, gains or losses on foreign currency transactions and net interest expense, acquisition related costs and other costs.
  • The exclusion of these charges and costs in future periods will have a significant impact on our Adjusted EBITDA.
  • Average paying subscribers for each month are calculated as the sum of the paying subscribers at the beginning and the end of the month, divided by two.