The number of frauds taking place on the eCommerce is rising at an exponential rate. The normal frauds were still understandable that the person has taken up an anti-social profession. However, there are friendly frauds taking place. Do you know what friendly frauds are? Do you want to protect yourself from it? In the article, you shall know it all. In case you know what these frauds are, and you wish to keep them at one arm’s distance, you can check out Ethoca friendly fraud prevention.
Friendly fraud is one in which the fraudster is the actual owner of the card. The person is unethically trying to seek gains from the businessmen by using the customer-friendly rules and regulations of the card provider. That’s why the term is used in friendly fraudster. However, where there are fraudsters, there are guards for the same. The Ethoca friendly fraud prevention is your savior from people trying to take an advantage of you.
How does it work?
You might be still confused as to what happens in the fraud rather than why it is a fraud. For instance, if a person has ordered something from you, and has made payment using the card, you are liable to dispatch the order. However, once the person receives the parcel, the person shall claim a refund putting false allegations. It could be anything like the transaction was unauthorized, etc. The card company most of the time goes by the word of its customer without much investigation and proof. The transaction made using the card is canceled. The businessman loses the product as well as the money. These are called the chargeback.
How to prevent it?
Many sites shall help you against the chargeback. The sites are designed for your interests so that you can operate the business efficiently and trust your customers. You collaborate with the site for a holistic digital customer experience. The site shall join hands with you and the card issuer to ensure that you are not on the losing side because of the fraudsters.
The site shall customize the solution as per your requirement. Once you are with such a service provider, you shall not worry about anything because, you have a site to fall back upon. In case you have any queries, you can contact the site and get it resolved.
Work in an environment where there are friendly barter and not friendly frauds!