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Insights and Expertise

Clear and transparent billing descriptors should be used sult in undeserved refunds, it saves significant time and
to reduce confusion that often leads to chargebacks. Addi- money in the long run.
tionally, leveraging chargeback alerts and dispute resolu-
tion services can help merchants respond quickly to po- Staying ahead of the fraudsters
tential fraud cases before they escalate. The surge in fraudulent chargebacks serves as a stark re-
minder that merchants must remain vigilant. Fraudsters
Merchants should also ensure that all relevant stakehold- are employing increasingly sophisticated tactics, and the
ers—from customer service to finance—are well-informed financial risks continue to escalate. Protecting your busi-
and actively participating in fraud prevention efforts. This ness, your customers and your revenue requires urgent
includes training customer service teams to recognize and and proactive measures.
resolve disputes before they result in chargebacks, using
customer communication tools to confirm purchase intent, The important part here is that there is support to help
and maintaining detailed transaction records to support merchants in overcoming these challenges. Review expert
representment cases. By adopting these strategies, busi- guidelines and update fraud prevention strategies to ad-
nesses can significantly reduce their exposure to friendly dress these evolving threats. By maintaining vigilance
fraud while maintaining a positive customer experience. and utilizing advanced tools and technologies, merchants
Leveraging AI for fraud prevention can reduce the impact of friendly fraud and safeguard
their operations for the future.
Technology plays a pivotal role in helping merchants stay
ahead of scammers. Machine learning and artificial intel- Monica Eaton is the founder and CEO of Chargebacks911 and Fi911, as
ligence can be used to analyze vast transaction datasets
in real-time, detecting unusual patterns and preventing well as chief information officer of Global Risk Technologies. A leader in
fraudulent chargebacks before they occur. Another es- payment fraud prevention, she has helped protect over 10 billion online
sential strategy is implementing chargeback prevention transactions and recover over $1 billion in chargeback fraud. Fi911’s
alerts. DisputeLab™ tool streamlines chargeback management for financial
institutions. A passionate advocate for diversity in fintech, Eaton has
These alerts notify merchants of disputes before they are received numerous awards, including Global Leader of the Year at the
formally filed, allowing time to issue refunds and prevent Women in IT Awards. Contact her at linkedin.com/in/monicaeatoncar-
the chargeback. While this approach may occasionally re- done, or learn more at https://chargebacks911.com.
Commercialization

Program

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