TELECOM Digest OnLine - Sorted: Web Merchants Fighting Costs of Fraud

Web Merchants Fighting Costs of Fraud

Monty Solomon (monty@roscom.com)
Sun, 16 Apr 2006 23:39:02 -0400

By Michael Rubinkam, Associated Press Writer | April 16, 2006

BETHLEHEM, Pa. --Talk about buyer's remorse: A man who had purchased a
$4,500 custom-made engagement ring over the Internet abruptly called
off the wedding just days before the big day -- then called his credit
card company to get his money back.

He succeeded, but not for long. Ice.com, one of the largest jewelers
on the Internet, fought the credit card chargeback, correctly arguing
its 30-day return guarantee had long since expired. The customer was
out the money.

Internet merchants once viewed such chargebacks and other payment
fraud as a cost of doing business, mainly because they are difficult
and time-consuming to fight. But with fraud sapping hundreds of
millions of dollars from online revenues, companies that do all or
most of their business over the Internet are increasingly pushing
back.

http://www.boston.com/business/technology/articles/2006/04/16/web_merchants_fighting_costs_of_fraud/

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