Chargebacks are a common issue, especially in the banking sector. It happens when any purchase or payment gets reversed, and the customers get their amount back because of the initiated dispute with ...

Banks use MCCs to assess transaction risk. Payment processors use MCCs to set processing fees. Visa & Mastercard track MCCs for chargeback monitoring & fraud prevention. Chargeback Risk: Some ...

As online commerce continues to surge, chargeback fraud victimizes more and more retailers. Experts report that chargebacks will cost merchants over $100 billion in 2023, and false claims and abuse of ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Many people view first-party fraud as a victimless crime, but it actually costs businesses ...