Chargebacks: The $125 Billion Problem Affecting Every Business

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Dan Pinto is CEO and cofounder of Fingerprint. With over a decade in tech, he is an entrepreneur behind many startups. Read Dan Pinto's full executive profile here.

. More than one-third of Americans admit to committing this illegal activity. Even more concerning, 52% of Gen-Zers say they'd perpetrate first-party fraud if they knew there were no consequences.

There are many forms of first-party fraud, but this article focuses on friendly fraud, a specific type of chargeback. Chargebacks are designed to protect consumers from unauthorized charges by allowing them to dispute a transaction with their bank. Friendly fraud occurs when customers dispute legitimate purchases. These chargebacks can be malicious or accidental.

Clearly articulated shipping timelines give customers a definitive idea of when to expect the delivery, possibly averting premature delivery disputes. Delivery confirmation services add another layer of protection.

 

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