Something like 90% of our disputes are friendly fraud and the other 10% isn’t because we don’t provide customer support… it’s because they don’t even bother con

Something like 90% of our disputes are friendly fraud and the other 10% isn’t because we don’t provide customer support… it’s because they don’t even bother contacting support because the dispute process is so encouraged now. We don’t eat the cost but we have to build it into the prices for other consumers to pay. Meanwhile guess who ends up paying and wins? Consumers end up paying higher prices, spending larger volumes, and credit card companies pocket the fees from increased transactions and even dispute processing! The credit card companies literally have zero incentive to not side with the customer as it will decrease transaction volumes. So called consumer protections really protect financial institutions by allowing them to force businesses to build fraud costs silently back into the sales process. The whole system is designed to pat the customer on the back with one hand while the other reaches to steal from their back pocket. Why do you think America took soooo long to implement anti fraud chip cards? Because anti fraud tech reduced transaction volumes and thus profits! Credit card companies are making bank from fraud—both legit and friendly and disguising pro-fraud policies as “pro-consumer” legislation. What’s crazy was that credit card companies touted 0-fraud liability on cards while having literally garbage anti-fraud tech… because merchants actually had to pay for the fraud.