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The 'Friendly Fraud' Chargeback

By Monica Eaton-Cardone
November 02, 2013

The abuse of the chargeback option has resulted in a “friendly fraud” epidemic harming not only merchants, but the very consumers the programs were designed to help.

Google Executive Chairman Eric Schmidt recently predicted that 100% of the planet will access the Web to purchase goods and services by the year 2020. It is no secret that the Internet has profoundly changed the way we do business. See, “Google Boss: Entire World Will Be Online by 2020,” CNN.com.

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