Stripe Offers SMBs Chargeback Fraud Relief
Payment processing company Stripe has launched Chargeback Protection, a machine learning-based system to limit the impact of fraudulent credit card transactions on merchants. A chargeback is a demand by a credit card provider for a retailer to make good on a fraudulent or disputed transaction by repaying the full purchase amount plus a chargeback fee. Resolving fraudulent disputes can take up to three months. Until then, disputed funds are unavailable to the business, even if it ultimately wins the dispute.