Category Archives: Chargeback Facts

5 Must Know Facts about Chargebacks

efraud provides loss protection for online merchants

‘Chargebacks’ are the product of the process of reversing a transaction wherein the money is paid back to the consumer from the merchant’s account in addition to levying penalty to the merchant. For the past few years, there has been a substantial increase in eFraud cases due to the rising use of credit cards without proper authentication. This can especially pose serious problems for small and growing businesses as they search for stability during the early stages of starting and stabilizing their business. On a global scale, only 21% of chargebacks are in the favor of the merchants. In most …Read more »