Friendly fraud occurs when a customer disputes a transaction for an online purchase (card-not-present transaction) after knowingly using their card to receive goods or services from the merchant and then requests a chargeback (money back) from their bank. The continued growth of eCommerce, fueled by the pandemic, coupled with supply chain issues and first party abuse has spurred exponential growth in chargeback claims. According to a Javelin chargeback survey conducted on behalf of Accertify, while a majority of merchants are tracking friendly fraud, 28% are still unable to enhance their business model to accommodate these capabilities, which results in increased losses. *
During this webinar, we will explore how accurate geolocation data can be used as compelling evidence to identify and decline fraudulent transactions as well as fight friendly fraud chargebacks:
- Increasing chargeback win rates by employing geolocation as evidence.
- How to use geolocation data proactively to identify financial fraud schemes before they occur and fight against fraud.
- Reliability of advanced geolocation data and how it can be used to bolster real-time and historic existing risk engines.
* MERCHANT CHARGEBACKS: BUILDING BRAND VALUE BY OPTIMIZING EFFICIENCIES” Javelin and Accertify Survey, August 2021.