Category: Tips

The 7 types of eCommerce fraud schemes you should know about

As an eCommerce seller, there are multiple responsibilities that are juggled between you and your team: sourcing product, quality control, customer service, SEO, HR… One of the tasks that is often overlooked, until it is too late and very costly, is fraud prevention. With the frequency of data breaches that seems to be occurring regularly… Read more »

The Shocking True Cost of Chargebacks

Originally posted by CardNotPresent.com. How much would you guess businesses lost to chargebacks in 2017? $10 billion? Maybe even $20 billion? Generous guesses—but not generous enough. Or, maybe you keep up with statistics and you read that the total cost of chargebacks came to $31 billion in a single year. Sorry, you’re still not even… Read more »

Fed Report Pegs CNP Fraud as Retailers’ Biggest Concern

Originally posted by CardNotPresent.com. New research from the Minneapolis Fed indicates that retailers are more concerned with fraud in their online channels than any other kind of fraud. Across nearly every size business, Fighting Fraud in the E-Commerce Channel: A Merchant Study found that not only was CNP fraud considered their greatest threat, but half… Read more »

Chargebacks 101: What They Are & Why They Matter

Originally posted by ChargebackGurus.com. Chargebacks are a growing concern for modern merchants. And at the rate they’re increasing, it’s no wonder why. From 2016 to 2017, chargebacks jumped 179 percent, costing merchant’s 1.9 percent of their total annual revenue. Add in the potential threat chargebacks pose to your reputation and merchant accounts, and you’ve got… Read more »

3 Solutions for Ecommerce Merchants Fighting Fraud

Article written by NoFraud for Entrepreneur. One of the lesser known challenges of running an ecommerce store is preventing fraud chargebacks. When a consumer doesn’t recognize a charge on their credit card statement they will dispute the charge with their credit card company, which will result in a fraud chargeback to the ecommerce store owner…. Read more »

Nearly 28% of consumers have been a victim of e-commerce-related fraud

Article posted by Katie Evans for Internet Retailer. U.S. e-commerce is projected to grow nearly 16% in the third quarter, but consumers still have hesitations regarding the safety of shopping online, according to an exclusive Internet Retailer survey of 2,000 U.S. consumers conducted by Bizrate Insights. For example, 40% of consumers said they did not… Read more »

Stop the Intrusion and Keep your Revenue: How to Prevent Online Fraud in Your Business

Contribution from freelance writer Jenny Holt According to the Association of Certified Fraud Examiners, a typical organization loses 5% of revenue every year to fraud. For businesses, online fraud typically manifests itself in the form of credit card fraud, identity theft, mobile phone transaction fraud, international purchasing fraud, phishing scams, and downloaded malware that collects… Read more »

A vaping e-retailer snuffs out chargebacks

Written by James Melton for Internet Retailer. For roughly $700 per month, the owner of VapeSociety.com and VapeMood.com eliminated chargebacks of up to $5,000 per month. Cesar Campos thought chargebacks for fraudulent credit card purchases of $3,000-$5,000 per month were going to be a regular cost of doing business. Campos, marketing director of Campos Inc…. Read more »