Incidents of "friendly fraud" are up anywhere from 20% to 30% in 2022 depending on the market, Visa chief risk officer Paul Fabara tells Axios.Businesses are already dealing with a slew of challenges as inflation, wage increases and labor shortages undermine the bottom line.
But the pandemic appears to have been a catalyst, as restaurant chargebacks have grown from 1 in 400 transactions to 1 in 100 since it began, according to financial consulting firm Chargebacks911.Growing awareness of the fact that disputing a charge can be a way to escape financial responsibility for the payment may be a factor.
The amount of companies that charge for products and services that arent as advertised is staggering. I've had to turn many companies in for not delivering the quality service advertised or sold to me. This almost always happens with online purchases.
It’s incredibly easy to make a chargeback for a disputed charge. The fees they charge protect the consumer not the merchant.
Do you ever write multiple-source stories?
Figured out the error here -- card is in the wrong way
I can see how this could become a problem
No wonder why $V has been underperforming the market
garyleff
another side effects from the blm cultural revolution in 2020