The Kansas City Business Journal recently spoke with MSP Consulting’s Patrick O’Boyle for an article titled, “Consultant: As retail payment fraudsters move online, they’ll find easy pickings,” which address the increase of online fraud after the EMV chip was implemented in 2016.
O’Boyle told the Kansas City Business Journal the time is now for online retailers to secure their online payment systems.
“Those fraudsters didn’t just become better people — they’re migrating to web-based fraud to commit their schemes,” O’Boyle said. “Unfortunately, most of these fraudulent purchases end up as charge-backs from the real cardholder, saying they didn’t buy those auto parts. The merchant has a chance to fight it, but they’re fighting a losing battle because all of the rules are in favor of the cardholder. So the best thing a merchant can do is protect against those things happening.”
Click here to read the full article.