Merchants lost $20.3B to false credit card declines in 2019

[Anonymous]

https://www.foxbusiness.com/money/merchants-lost-20-billion-card-declines

False card declines are the result of a system processing error in which legitimate transactions are flagged as fraudulent by either the consumer's bank or the merchant's bank because they suspect suspicious activity. "By trying to prevent or lower the risk of fraud, many times, you're blocking real transaction," Rotem said.

[sammydavidjr]

The CEO of Synchrony mentioned this morning in their earnings call that the improvement in their fraud prevention systems is a big area of focus for the Company in 2020 (she implied that everyone in the industry is putting a lot of work in to improve).

[Anonymous]

@Anonymous   good read!