Customers are more apt to use their credit cards while shopping online. They prefer this method due to the security assurances provided by the credit card companies. They can refute charges and request chargebacks with their credit cards. It means when the business is running well the rate of chargebacks will also increase.
On the other hand, fraudsters will seek for card-not-present transactions. The increase in CNP frauds and both legitimate and illegitimate chargebacks will cost the eretailers vey high.
The solution is turning to the third party vendors, who have all the expertise, experience and technologies to thwart the increasing risks of fraud and chargebacks.
By reducing the chargebacks and increasing the conversions and acceptances, you will be able to shift your operations to generate more revenues.
Online retailers are facing greater fraud threats and challenges than ever in the past. They have to employ the solutions designed by the leading fraud prevention companies, which invest heavily the resources from time to time to create the systems for ecommerce websites to thwart online frauds.