The real costs of weak payment security

Merchant’s fraud losses have increased with 33% from 2013 to 2014[i] hitting the all-time high - 10 billion USD.[ii] “An executive at a large national issuer and acquirer says that only 50% of transactions disputed are actually recovered. As the costs accrue in protracted disputes, it is often against banks’ interest to vigorously pursue chargebacks.” “Several [...]