Merchants losing $100B/yr from "friendly fraud"

Disputing charges has become easier for consumers in recent years, experts say, largely thanks to efforts to enhance mobile banking service in response to canceled travel and other pandemic repercussions.
“There are legitimate disputes, and the chargeback process was built to recognize and provide some sort of relief for those legitimate disputes,” said Rodrigo Figueroa, chief operating officer of Chargeback Gurus, a company that helps businesses recover revenue. “Now we see this massive level of abuse,” he said.

The Merchant Risk Council, which consists of 600 e-commerce companies, reported in April that 94% of its members have experienced first-party fraud in the past year.

To learn more about "friendly fraud" and what you can do to safeguard yourself, visit Chargeback Gurus.