How card companies are battling fraud and cutting their own, and merchants’ losses
Card companies are joining forces with fraud detection firms to finetune the dispute resolution process around chargebacks, or reversal of outgoing transfers initiated by cardholders.
The proliferation of e-commerce has led to a rise in credit card chargebacks, which involve reversal of outbound funds by a customer, such that they eventually don’t end up paying for goods they receive. The burden of the loss is borne by the merchant, who could have dispatched the goods or services by the time the reversal occurs.
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