Targets of “friendly fraud”, the hotel industry has lost millions of dollars each year in avoidable losses. It is no secret that the hospitality industry has a notably high ratio of chargebacks when compared to other sectors, 80% of them related to friendly fraud and impacting their bottom line. Hospitality Net, Robert Harrow, recommends fighting back using the tips below.
Chargebacks can be quite costly. When a customer reverses a charge on their card, not only are you slapped with a $25 fee but you may have also lost revenue for a particular room if no one else books it in time. If your property becomes a hotspot for fraud-related chargebacks, you may even run the risk of losing the privilege of accepting card payments.
According to Kirsten Rebello, a chargeback manager for Cha...Read More