Friendly Fraud in High Risk Credit Card Processing
Online business is growing day by day in this century. In a world full of competitors, every merchant wants a high position in the market. Position yeah!! It really matters a lot. This shows the goodwill in the market, trust factor in the customer’s heart.
Friendly Fraud in Credit Card Processing
What Is Credit Card Processing? The process of purchasing a product or service from a merchant is called a credit card processing. The whole process takes place with the help of the payment gateway.
What Is High-Risk Business? High-Risk Business is one that operates in a high-risk industry and has the risk of failing
transactions, for example dating sites, seminar brokers, multi-level marketing, finance companies, internet adult sites, etc. These segments are considered as highrisk businesses. They tend to be managed very carefully.
What are Friendly Frauds? Frauds that are hard to find and are hidden in the faces of customers are friendly frauds. Friendly frauds are instantly created at the scene and are self-made by the customers just to get the products for free. In this case, the merchant should have full proof of evidence of the transaction that helps them to fight t̀he chargebacks.
Look Here BOMB SHOT OF UNRECOGNIZED CHARGES This time the ball is in the customer’s court. True, this usually happens when the
customer goes for the subscription of the goods or the services for a year or a couple of months and unknowingly after a certain point of time the amount gets deducted from their account without their notice.In this case, the customer files a chargeback and in most cases wins it.
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