This primary research draws on the support of industry stakeholders including the Project Financial Crime team, broader EPA membership, merchants, and service providers, along with valuable contributions from other trade associations.
Customer disputes and chargebacks are very important topics, but rarely receive the focus and coverage they deserve. Indeed, protections associated with card payments were scarcely fully understood outside of a small group of specialists – that is until the COVID-19 pandemic forced holidays, flights, hotels, concerts, theatres, and entertainment events to be cancelled in 2020.
This research seeks to identify best practices and make recommendations with a view to improving efficiencies in managing and mitigating future chargebacks. A particular area of focus in this research was to investigate instances of “double credits”- why they happen, and whether they are cases of deliberate financial fraud.