Disputes are an unfortunate aspect of accepting payments online and the best way to manage them is to prevent them from happening at all. An effective dispute and fraud prevention strategy uses a number of methods that are best suited for your business while keeping any customer burden—and losses—to a minimum.

The technological advancements related to online shopping, including digital wallets, NFC and QR Codes, and third-party apps that collect payments for you, have opened up countless new opportunities for fraudsters to obtain your customers’ payment credentials. When they do, it often results in a disputed payment—the fraudster gets the product, the account owner gets refunded, and you, the business owner, are out the product and the money, and also get charged a fee.

This section aims to provide strategic guidance, risk detection tools, and implementation suggestions to make sure you’re armed with the best defense against fraud. Depending on the service you provide, the goods you sell, or how your business operates, certain methods might be more effective than others.

For more information: Understanding Fraud