Fintech News

FEBRUARY 10, 2025

Commonwealth Bank of Australia (CBA) is making significant strides in leveraging artificial intelligence to reshape the financial services landscape, already using AI to handle up to 15,000 payment disputes daily, a volume too high for its call centres.

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Stax

MARCH 4, 2025

TL;DR Online payments rely on API or hosted gateways with encryption and fraud detection, while in-store transactions require POS hardware with EMV chip technology and NFC capabilities. Managing chargebacks and disputes Chargebacks occur when customers dispute a payment and request a refund from their bank.

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Clearly Payments

MARCH 14, 2025

Stage 4: Chargebacks and Dispute Resolution If a cardholder disputes a transaction, a chargeback process may be initiated: The cardholder contacts their issuing bank to dispute the charge. The merchant is notified and can provide evidence to refute the dispute. Geolocation and behavioral analytics enhance fraud detection.

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PYMNTS

OCTOBER 1, 2020

Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company. Visa said the goal of the purchase is to enhance its chargeback and dispute resolution infrastructure. “As

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Stax

MARCH 18, 2025

Measures such as encryption, tokenization, and fraud detection are vital for protecting payment transactions from cyber threats, fraud, and data breaches. While theres a level of digital fraud risk, most digital payment processing systems have robust security measures, such as encryption, tokenization, and fraud detection.

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Payments Source

APRIL 16, 2020

Credit card chargebacks were rising in certain categories prior to the coronavirus outbreak, but the pandemic is causing a spike in all types of payment card disputes.

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Fintech Finance

AUGUST 15, 2024

Sionic , a leading provider of real-time, Pay-by-Bank Commerce (PbBC) services, today announced the launch of its comprehensive fraud detection and mitigation service built exclusively for real-time, bank-to-bank payments at checkouts, whether online, mobile or in-store.

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Clearly Payments

SEPTEMBER 18, 2024

A chargeback is a reversal of a credit card transaction initiated by the cardholder’s bank, usually as a result of a dispute by the customer over the purchase. It acts as a consumer protection tool, allowing customers to reclaim funds for unauthorized transactions, fraud, or dissatisfaction with goods or services.

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Finovate

FEBRUARY 5, 2025

Worldpay plans to acquire AI-driven fraud detection company Ravelin. The acquisition will help Worldpay enhance its e-commerce offerings by adding fraud prevention technology and improve business clients’ authorization rates. Financial terms of the deal were not disclosed.

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The Payments Association

NOVEMBER 20, 2024

Data from Visa suggests that friendly fraud could account for as many as 75% of all disputes. Mastercard reports that the average seller bears three-quarters of the cost of a dispute. billion to chargebacks, thanks in part to onerous dispute fees ranging from $20 to $100 per chargeback. Another 39.7%

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Fintech Finance

MARCH 3, 2025

Antom Shield: Advanced AI for risk mitigation and fraud prevention Antom Shield is an intelligent risk solution that strengthens fraud detection while helping merchants boost order conversion rates and drive growth. Adaptive machine learning models continuously refines fraud detection to counter industry-specific threats.

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The Payments Association

APRIL 2, 2025

Effective April 1, 2025, VAMP will integrate the Visa Fraud Monitoring Program (VFMP) and the Visa Dispute Monitoring Program (VDMP) into a unified framework with stricter thresholds. Non-fraud disputes : Include Visa reason codes 11, 12, 13, and TC 15 messages. dispute ratio (new tier for 2026). are excluded.

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Core

MARCH 19, 2024

The solution: robust government fraud detection mechanisms for payment systems. Here’s what compliance managers and auditors need to know to strengthen internal fraud prevention and safeguard public funds. When fraud persists for over five years, the average loss increases to $800,000.

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Payments Source

JUNE 3, 2019

Stripe has launched Chargeback Protection through its machine-learning fraud prevention system called Radar.

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The Payments Association

APRIL 14, 2025

SEON, the leader in digital fraud prevention and compliance, has announced the availability of its new automated chargeback management solution. This solution combines early fraud detection with automation of the chargeback dispute process, empowering e-commerce merchants to stop fraudsters in real time and manage chargebacks effortlessly.

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Fi911

DECEMBER 19, 2023

This scale of fraud is challenging for systems dependent solely on human detection, especially considering the increasing volume of online transactions. Initially reliant on automated and rule-based systems, financial institutions are now turning to machine learning for more effective fraud detection.

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Payments Source

MAY 23, 2018

In an age of quick-processing for digital payments, transaction disputes can still take weeks for a resolution or chargeback — an unacceptable timeframe for e-commerce. To hasten dispute resolution, some vendors are beginning to offer financial incentives to merchants that agree to speed up the process.

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The Payments Association

MARCH 14, 2025

Understanding your MCC code is essential because it directly affects: 1) Payment processing fees Businesses categorised under high-risk MCCs typically pay higher transaction fees due to increased fraud exposure and chargeback rates. Payment processors impose these fees to mitigate potential financial losses from disputed transactions.

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Fi911

MAY 22, 2024

This process can be triggered for various reasons, such as a disputed charge, an error in the transaction, or fraud detection. Disputed Charges : When a payer disputes a charge, possibly due to not receiving the goods or services promised, a payment reversal can be initiated. What is a Chargeback?

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Fi911

JUNE 4, 2024

The main responsibility of a chargeback analyst includes interpreting chargeback data to assist with the resolution of client disputes and eliminating the factors that might trigger chargeback risks. The duties performed by a chargeback analyst include: Probing into the authenticity of claims or disputes that result in chargebacks.

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Fi911

APRIL 10, 2024

With their banks’ support, merchants should invest in comprehensive fraud detection and prevention mechanisms. The Impact of Declines on Disputes & Chargebacks An often overlooked aspect in the discourse on transaction declines is the potential for disputes and chargebacks.

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EBizCharge

MARCH 18, 2025

A secure payment processing provider for Sage 100 will also give merchants access to fraud detection and prevention tools, 3D Secure, chargeback management, and more. By protectin g payments in Sage 100, your company can reduce the risk of data breaches and fraud, ensuring a secure experience for all parties involved.

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PYMNTS

MAY 5, 2020

The good news, Pangretic added, is that consumers and businesses are getting better at detecting fraudsters trying to ply their trade across mobile and online transactions. This can really create a proactive communications strategy to significantly decrease the incidence of successful fraud attempts,” said Pangretic.

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Stax

APRIL 8, 2025

Chargeback fee – A merchant has to pay this fee if a customer disputes a charge and wins. Ensure your processor uses secure payment methods, address verification, and fraud detection tools to minimize chargebacks and fraud.

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PYMNTS

OCTOBER 28, 2019

Digital fraud prevention company Kount is rolling out a complete solution to protect companies from criminal and friendly fraud, the firm announced in a press release on Monday (Oct. Friendly fraud can account for 40-80 percent of all fraud losses.

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Clearly Payments

FEBRUARY 7, 2024

Chargeback Rate The chargeback rate measures the percentage of transactions that result in chargebacks, which occur when customers dispute a transaction with their card issuer. Monitoring chargeback rates helps merchants identify potential fraud or disputes and implement preventive measures to mitigate risks.

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Stax

JANUARY 21, 2025

Fraud prevention features – Look for additional fraud prevention features like fraud detection, address verification, chargeback protection, and IP geolocation to enhance protection from fraud. It has dedicated teams monitoring bank policy changes, looking out for the latest fraud methods, and acting swiftly.

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PYMNTS

JULY 2, 2020

But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation. He added that fraudsters have been showing up across the board in terms of fraud types attempted.

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Wharton Fintech

FEBRUARY 29, 2024

The demand for Spade’s offerings is underscored by the growing challenges in the card ecosystem, including the increasing rate of card fraud attempts, which saw a 46% year-over-year rise. Spade’s solution addresses these challenges head-on, making it a critical tool in the arsenal of modern financial services.

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Fintech News

JULY 15, 2024

Singaporean travel executives have identified three primary concerns: reducing card disputes and chargeback fraud (68%), dealing with foreign exchange volatility (66%), and managing vendor and supplier payments in multiple countries (66%). However, the surge in cross-border transactions brings its own set of challenges.

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PYMNTS

JUNE 18, 2019

The Payments 2022 Playbook : Building A High-Performing Payments Team For Fraud Detection examines the growth strategies of digital platforms over the next three years, how payments teams are facing the challenges of fraud detection and how satisfied they are with their current systems. percent of their annual revenues.

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M2P Fintech

DECEMBER 17, 2024

Self-service capabilities enable merchants to update information, manage payment options, and resolve disputes independently. This system supports multiple settlement cycles, automated dispute processing, and detailed reporting, enhancing overall merchant operations and financial management.

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Segpay

APRIL 16, 2024

Cardholders dispute a transaction with their bank, resulting in a reversal of funds. In this case, both the cardholder and the merchant are victims of Fraud. Merchants should implement robust fraud detection tools, such as address verification systems (AVS) and card verification value (CVV) checks.

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PYMNTS

JULY 10, 2019

These platforms promise fast, seamless transactions, which most deliver – but when platforms focus on reducing friction for users, it can backfire and create new vulnerabilities to fraud. An unexpected consequence of the retailer race to offer same-day and one-day delivery is increased fraud exposure. Over three-fourths (79.6

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PYMNTS

SEPTEMBER 15, 2020

Resolving disputes can be time intensive, forcing banks to take on the administrative tasks required to gather and assess evidence. Card issuers that believe chargeback claims are valid then ask merchant acquirers to send funds on behalf of merchants to cover the transaction reversals — unless the sellers wish to dispute the claims.

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PYMNTS

APRIL 29, 2019

Drags on conversion include chargebacks and dispute resolution (cited by 62 percent of respondents). Moreover, only a tiny fraction of platforms consider their fraud detection systems as “extremely” effective, with a majority citing false-positives as a major friction point. All of this is proving costly for digital platforms.

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PYMNTS

SEPTEMBER 22, 2020

The growth in digital transactions is also spurring a boost in friendly fraud, which occurs when legitimate customers either knowingly or unwittingly claim that they did not make legitimate purchases and seek reimbursement for them. It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

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