New Research Shows that Half of CNP Chargeback Requests Go Unanswered

RIDGELAND, Miss., Oct. 15, 2013 /PRNewswire/ -- SecureBuy, a leader in global payment fraud prevention and security technology, announces today that it has just published the SecureBuy Magento 2013 Fraud Report.

The SecureBuy Magento 2013 Fraud Report reviews current merchant practices in fraud management, as well as upcoming trends. It also goes into detail, shedding light on how merchants are handling issues such as chargebacks, refunding and friendly fraud while providing insights into best practices. This study targeted merchants specifically using the Magento platform; however, the results are showing trends common throughout the eCommerce and mCommerce world.

The survey was conducted via online survey distributed to Magento merchants between February and May 2013. Respondents were asked to identify themselves as either North American (Canada and the USA) or Out of Country merchants. Large merchants are defined as respondents with more than $25 million in sales. Businesses with less than $25 million in sales are defined as smaller merchants for the purposes of this report.

"Some of the findings have been pretty shocking," recounts James Packer, Esq., Chief Operating Officer and General Counsel of SecureBuy, referring to results highlighting that 50% of chargeback requests are going unanswered. "Chargebacks have always been seen as the elephant in the room; however, the findings revealed that many merchants aren't taking even the most basic of precautions against chargebacks and friendly fraud," says Packer. "We hope that some of the findings in this study serve as a wake-up call."

SecureBuy is a payment fraud technology innovator focused on creating best-in-class solutions. The SecureBuy Magento 2013 Fraud Report is available now on their website. Download the report at http://www.securebuycommerce.com/magento-2013-fraud-study.html today.

About SecureBuy – A SignatureLink Company

SecureBuy (www.securebuycommerce.com) is a wholly owned subsidiary of SignatureLink, Inc. Founded in 2002, SecureBuy is an established eCommerce cyber-security and technology company, a payment fraud prevention pioneer and leader. With a unifying focus on reducing the risk of eCommerce for customers, merchants and processors, SecureBuy solutions extend from payment fraud prevention to identity authentication and globally hosted real-time eCommerce cyber-security solutions.

Media Contact:

Justin Mingo
SecureBuy - Public Relations
408.769.5007
Email

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SOURCE SecureBuy