With ecommerce sales on the rise this holiday season, there’s bound to be plenty of return fraud that follows. Whether it’s malicious, friendly, or family, there are things you can do to protect yourself and reduce the number of return fraud cases you have to deal with.
There are a few ways you can protect your online store from fraud. A recent TechShout.com article discussed a few ways you can protect your business and your store from fraudsters, whether it’s friendly fraud, malicious fraud, or hackers and cybercrooks. Based on that list, and a few recommendations of our own.
E-commerce merchants have long dreaded chargebacks, especially the ones that result from friendly fraud and refund fraud. A customer lies about never having received their shipment, or they claim it arrived damaged, or it wasn’t the right item, and could they please get a replacement?
Ecommerce experts are expecting a rise in consumer fraud, even as — or perhaps because — global ecommerce will increase by 27% this year. Ecommerce has already grown by 21% in September 2020 compared to September 2019. Additionally, as a Forbes article by PayPal reported, Black Friday and Cyber Monday (BFCM) shoppers spent $16.8 billion online last year.
If you’re any kind of retailer, whether brick-and-mortar, full ecommerce, or even a click-and-mortar operation, you’re going to face a lot of chargebacks for as long as you accept credit cards. Chargebacks are a royal pain because it means you either have an unhappy customer, a problem with an item you sold, or even fraud.