Universal Processing LLC (uP)’s Post

If a customer disputes a legitimate charge because they don’t recognise the description, that is often the issue of the industry. I have wasted many hours tracking down charges with descriptions that give no clue about what I purchased. Often, the name of a third-party company not mentioned anywhere in the purchase process, with no indication of the product or service purchased. Frequently, the amount can help, but when the merchant splits an order, the customer's one last clue is gone. If the industry wants to reduce this type of “fraud”, it needs to do a much better job of identifying purchases in a way the customer can understand. Blaming the customer is not the answer.

ReceiptHero (digitising receipts) has been working with Visa and Mastercard (and others) for several years. We connect to PSP ecosystem, but more importantly to POS -systems as well. This empowers clarification of 'Friendly frauds' as consumer (and Business customers) and review what was actually the content of the transaction on SKU (product) level. Data is structured, meaning receipt flow can fed (with consent) to automatic models. Receipts can be automatically sent to issuer systems, but also to loyalty, TEM -systems, etc. Naturally this also allows great user experience, helps merchants to to get rid of printing with QR code add-on and as a bonus, empowers expanse management systems. Perfect world? All cards have digital receipt capability as standard feature and all POS systems have legal requirement to offer digital receipt (kinda like France now). Yes, involved (CoB)

Visa It is to find a solution to the fraud of the second party so that we can build together the future of our generations. www.SalemAbouHalloun.com

It's a bit of a shock just how common this type of fraud is. Makes my blood boil on behalf of merchants, particularly small business owners.

Over my twenty-five years in the merchant services industry, I've learned that friendly fraud is a not-so-friendly trend that can be hard to combat. Many merchants are shocked to find that it is just something that happens. I'm thankful that Visa is taking action to fight this unsettling trend.

Knowing more helps us fight fraud better. So, let's work together and stay ahead of the game. 💪

Being embedded in the payments system for many businesses and consumers, you (Visa) have a real opportunity to shape the world of personal data, how its shared and controlled by the individuals who's data it is.... huge opportunity.

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Unfortunately, there are people becoming professionals in these frauds. The bad thing is that few are actually punished.