Protect your business from first-party fraud with Shanthi Shanmugam
Description
The chargeback exists to protect consumers. And it assumes that all consumers are good actors. But what happens when they’re not?
First party fraud is increasing by 30% every year.
It’s hard to detect, accounts for more than 75% of chargebacks, and costs US businesses more than $100B per year.
Shanthi Shanmugam, CEO of dispute automation platform Casap, joined guest-host Brooke Smith to discuss how payment providers, ISVs, and merchants can fight first-party fraud.
They covered:
- Why first-party fraud isn’t detected by traditional fraud tooling
- The tradeoff between friction and fraud, and how ISVs can strategically insert friction to reduce first-party fraud
- How modern technology like first-party fraud scores can identify high-risk consumers
- Why some customers file chargebacks when they’re confused – and a simple strategy to identify (and fix) the most likely causes
- Specific strategies to reduce chargebacks on subscription payments
The Payments Strategy Show is brought to you by Vertex and Rainforest.
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