Credit Card Fraud Costs $11.27 Billion Annually – Chargeback Gurus Announces New Fraud Detection, Monitoring & Prevention Service to Help Merchants Reduce Risk

Chargeback Gurus is pleased to announce a value service to help monitor, detect and prevent fraud for ecommerce merchants as a new Nilson report shows that credit card fraud costs merchants over $11 billion per year.

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chargeback processing, how to fight chargebacks, chargeback representment, chargeback services

Fight eCommerce Fraud The Smart Way

Let the gurus fight your chargebacks and recover your lost revenue.

Allen, TX (PRWEB) May 12, 2014

Chargeback Gurus (http://www.chargebackgurus.com) is pleased to announce a value add-on service that provides its customers with an advanced software detection system that helps them flag, review and prevent online fraud before it occurs and causes losses.

According to Chargeback Gurus company spokesperson, Suresh Dakshina, ecommerce merchants experience anywhere from 7-10% in fraudulent sales every day. Many don’t have the tools in place to prevent these frauds from occurring.

The real cost of credit card fraud has been pegged in a recent Nilson report (August, 2013), detailing that merchants and card issuers assumed over $11.2 billion in fraudulent related losses from credit cards in 2012. The shocking report also revealed that during 2012, credit and debit card losses accounted for $5.22 of every $100 being spent, an increase from just $5.07 during 2011. U.S. businesses generated 47.3% of all fraud losses reported, but only generated a meager 23.5% of credit and debit card purchasing volume worldwide, the report said.

To put this in better scope, a related Payments Journal report (February, 2012), highlighted that retailers assumed over $580 million in debt and credit card fraud losses, and were spending an estimated $6 billion each year in prevention, detection and monitoring tools.

Chargeback Gurus provides online businesses with state-of-the-art detection and monitoring software. The software enables advanced fraud detection before a sale is completed. Suspected charges can be flagged for fraud and reviewed before products are drop-shipped by ecommerce entities, helping to reduce instances of fraud before the transactions can be completed and losses are incurred.

Chargeback Gurushas over a decade of expertise in managing chargebacks for ecommerce merchants. The company helps ecommerce entities combat chargebacks by using a proven dispute strategy and transaction fraud prevention system that has yielded an incredible 83% success rate over the past decade. Now they are officially offering this fraud detection and prevention monitoring software and service as a value add-on for both new and existing customers.

“We help merchants prevent fraud and fight chargebacks as well as also devise and implement ongoing strategies designed to prevent future chargebacks before they occur,” Dakshina explained.

Banks require a special dispute process when combating chargebacks, something that requires a series of letters and communications that demonstrates that the entity has taken the necessary fraud prevention measures and is in compliance with existing bank mandates. Most merchants specialize in their chosen ecommerce offerings, and not in chargeback disputes.

In addition, most online merchants simply don’t have the time nor the human resources to fight every chargeback that comes from the Card Association. Most of the time businesses that conduct large transaction volumes monthly write off these losses; usually because there are so many chargebacks each month that they couldn’t ever hope to fight them all and win.

“At Chargeback Gurus, we are certified eCommerce Chargeback Specialists as well as Fraud Prevention Specialists,” Dakshina said. “We use our decade of experience to help our clients recover revenue and prevent fraud, only charging a fair service fee for the chargeback disputes that we win.”

You can learn more about Chargeback Gurus by visiting them online at: http://www.chargebackgurus.com.

About Chargeback Gurus

Chargeback Gurus is an ecommerce revenue recovery service designed to help businesses successfully dispute chargebacks. The service uses a proven strategy that was carefully designed over the past ten years and that has resulted in an 83% recovery rate. The company also offers fraud prevention and prediction services and software to help its clients prevent future fraud the results in chargebacks. Chargeback Gurus offers a simple online submission and tracking portal, where clients can monitor the progress of any ongoing disputes.


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