“Liability Shift” Posts

How to Fight a Chargeback (and Win)

How to Fight a Chargeback (and Win)

Credit card fraud is bad for everyone but the fraudster. As a consumer, you might spot fraudulent transactions on your credit card statement that send you into a panic. You’re anxious to receive financial reimbursement, safeguard your identity and determine how your payment information was obtained. Businesses stand to face huge losses as well: They absorbed 38 percent of U.S. fraud losses in 2014, totaling $2.95 billion. If a business can’t properly fight the fraud, it takes the loss. The trend isn’t letting up. Monthly fraud attempts and the percent of revenue lost to fraud…

Why You're Susceptible to a Bank Chargeback

Why You're Susceptible to a Bank Chargeback

Previously, the only time businesses received credit card chargebacks was when a customer was unhappy with a product or service. Most business owners have, understandably, never had a chargeback. It has always been understood that if you provide good service and quality products, your customers will be happy. But times they are a-changin’! Banks are now issuing credit card chargebacks if they determine an issue with a transaction, even without your customer's consent. Now you’re probably thinking, “But how can banks get away with that?” Well, since the liability shift took place, there’s a new type of chargeback…