5 Ways to Combat ‘Friendly Fraud’
Friendly fraud isn't always attributed to criminal or malicious intent. It's more likely than not that merchants end up victims of these incidents due to consumer ignorance or negligence. Customers don't want to take the extra time to contact the merchant, they can't find the information they need to reference for their order, they forgot to return a product within the time frame, etc. A call to their credit card company is a quick solution with seemingly no consequence.
Monica Eaton is the founder and CEO of Chargebacks911 and Fi911, as well as Chief Information Officer of Global Risk Technologies. Monica has worked tirelessly to educate merchants and financial institutions about hidden threats in the rapidly changing payment fraud landscape. Leading Chargebacks911, was founded in Tampa Bay, Florida, expanding internationally also to become Europe’s first chargeback remediation specialist to tackle the chargeback fraud problem. In ten years, Chargebacks911 has successfully protected more than 10 billion online transactions and has recovered over $1 billion in chargeback fraud.
Recognizing that the impact of chargebacks goes beyond merchants, Fi911 provides unrivaled support to financial institutions with innovative back-office management technologies. Fi911’s pioneering DisputeLab™ tool streamlines chargeback management for acquirers, automating legacy processes and standardizing methods that simplify and speed the end-to-end workflow, improving the customer experience and accountability for all stakeholders.
Monica is a passionate diversity advocate committed to developing and sharing innovative solutions that empower the global fintech space. She has earned numerous awards, distinctions and special recognitions, including the Retail Systems Awards, where she received the ‘Outstanding Individual Achievement Award’ and was named ‘Global Leader of the Year’ at the Women in IT Awards.
