Overview
Dispute and Frauds
Overview
How to manage and prevent fraudulent transactions:
Introduction
A dispute occurs when a customer questions a transaction, often leading to chargebacks or merchant claims. Understanding the dispute resolution process is essential for businesses to reduce losses and maintain a strong reputation. Key aspects include:
- Chargebacks
- A chargeback happens when a customer requests a refund through their bank or card issuer, often due to unauthorized transactions, dissatisfaction with a product or service, or failure to receive an item. Merchants must provide evidence to contest chargebacks and recover funds.
- Merchant Disputes
- These disputes arise when customers claim discrepancies in billing, service delivery, or refund policies. Proper documentation and transparent policies help resolve these disputes amicably before they escalate to chargebacks.
- Arbitration procedures
- Our AI-driven fraud detection system continuously monitors transaction patterns, analyzing multiple risk factors to identify potentially fraudulent activities. By leveraging machine learning and behavioral analytics, the system can flag suspicious transactions, prevent chargebacks, and block fraudulent attempts before they are processed. This proactive approach ensures businesses and customers are protected from financial losses.
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