To protect merchants - and our hard-earned reputations - it's essential to take a realistic and proactive approach to the dark potential and devastating impacts of fraud.
Clearly, fraud poses a significant problem for travel advisors, and one of the more common types is "friendly fraud." In these cases, clients dispute legitimate charges, claiming they didn't authorize the payment or didn't receive the service they paid for. According to insights from Chargeback Gurus, this type of fraud accounts for many chargebacks in the travel industry, leading to lost revenue and penalties from payment processors if chargeback ratios become too high.
Chargeback Gurus suggests several strategies to help reduce the risk of chargebacks, such as maintaining thorough documentation, having clear client agreements drafted by your lawyer or sources like Travel Industry Solutions, who also provide integrated e-signatures and audit trails, and educating clients about payment policies right from the start. These strategies not only help prevent fraud but also allow travel advisors to focus on core business operations and customer satisfaction.
Clearly, fraud poses a significant problem for travel advisors, and one of the more common types is "friendly fraud." In these cases, clients dispute legitimate charges, claiming they didn't authorize the payment or didn't receive the service they paid for. According to insights from Chargeback Gurus, this type of fraud accounts for many chargebacks in the travel industry, leading to lost revenue and penalties from payment processors if chargeback ratios become too high.
Chargeback Gurus suggests several strategies to help reduce the risk of chargebacks, such as maintaining thorough documentation, having clear client agreements drafted by your lawyer or sources like Travel Industry Solutions, who also provide integrated e-signatures and audit trails, and educating clients about payment policies right from the start. These strategies not only help prevent fraud but also allow travel advisors to focus on core business operations and customer satisfaction.
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