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 to 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 is refunded and you, the business owner, no longer have the product or the money, and also get charged a fee.

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

For more information: Understanding fraud