{"id":1475,"date":"2010-11-19T12:07:52","date_gmt":"2010-11-19T17:07:52","guid":{"rendered":"http:\/\/www.merchantequip.com\/merchant-account-blog\/?p=1475"},"modified":"2010-11-19T12:39:16","modified_gmt":"2010-11-19T17:39:16","slug":"merchants-finally-getting-a-chargeback-break","status":"publish","type":"post","link":"https:\/\/www.merchantequip.com\/merchant-account-blog\/1475\/merchants-finally-getting-a-chargeback-break","title":{"rendered":"Merchants finally getting a chargeback break?"},"content":{"rendered":"<p>Friendly fraud is one of the most frustrating expenses a business owner will ever deal with. Friendly fraud is when a customer utilizes the credit card chargeback system to get a refund on a completely legitimate and honest purchase. It most often occurs in online business as it is very difficult for a business to win chargebacks, especially <a href=\"http:\/\/www.merchantequip.com\/information-center\/cc-chargeback-codes\/\">chargeback codes 53 and 4853<\/a>, item not as described. &#8220;Item not as described&#8221; is such an ambiguous reason that a customer can request a chargeback, it&#8217;s simply unfair and often abused.<\/p>\n<p>Traditionally, merchants receive zero benefit-of-the-doubt from card issuers when it comes to chargebacks, mainly because issuers make much more money from their card holding customers than from the merchants that accept them.<\/p>\n<p>MSN&#8217;s red tape chronicles recently outlined <a href=\"http:\/\/redtape.msnbc.com\/2010\/11\/friendly-fraud-a-hassle-for-you-too.html\">a changing landscape for cardholders<\/a> that stands to greatly benefit merchants. Banks are finally starting to crack down on friendly fraud type chargebacks. Banks aren&#8217;t doing it specifically for the benefit of merchants, as they found that customers whom initiate a large number of possible friendly fraud chargebacks are also those often in financial trouble, it will nevertheless benefit merchants. <\/p>\n<p>In <a href=\"http:\/\/www.lexisnexis.com\/risk\/newsevents\/press-release.aspx?id=1285683732999877\">a recent survey<\/a>, it was found that more than 1\/5 of fraud loses come from friendly fraud scenarios. Reducing fraud loses by even 5% overall would be a huge achievement, and would account for almost $7 billion dollars per year in recovered revenue for merchants.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Friendly fraud is one of the most frustrating expenses a business owner will ever deal with. Friendly fraud is when a customer utilizes the credit card chargeback system to get a refund on a completely legitimate and honest purchase. It most often occurs in online business as it is very difficult for a business to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1475","post","type-post","status-publish","format-standard","hentry","category-merchantaccounts"],"_links":{"self":[{"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/posts\/1475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/comments?post=1475"}],"version-history":[{"count":5,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/posts\/1475\/revisions"}],"predecessor-version":[{"id":1480,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/posts\/1475\/revisions\/1480"}],"wp:attachment":[{"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/media?parent=1475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/categories?post=1475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.merchantequip.com\/merchant-account-blog\/wp-json\/wp\/v2\/tags?post=1475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}