Money is part of the new age revolution. It can be counted amongst the most influential commodities in a human being’s life; it is extremely important to build a safe community that allows for safe transactions to be made; digital transfers and mobile cash is the new wave. However, safety is still not guaranteed, and today we dive deeper into the various kinds of ways in which monetary fraud, chargeback management, and the forces create a more stable tomorrow for online transactions.

A new wave

With the dawn of the digital age, a lot of processes saw a rampant migration towards the digital highway, this not only made them more accessible to a wider base of people and users but also much more convenient and cost-effective; one such migration was in the form of digitization of monetary transactions, this wave has rocked the world and has birthed an industry all its own with various Digi cash services now available.

Benefits of online transactions

–         Hassle-free – Digi cash has made the process of transfers a whole lot less physical and a whole lot more hassle-free, allowing for easy online transactions that can be done within minutes.

–         Safe – Migrating money transfers and such online has also provided a safe environment that is government regulated

–        Quick – Transactions are now quicker than ever, with money transfers happening quicker than one can say 1 2 3.

Monetary fraud in the digital money environment

Safe as online transactions, maybe, if there is one lesson humanity has learned from its past is that nothing is foolproof. With instances of digital fraud in the various form now taking place, a regulatory watchdog which helps the customer avoid such experiences in need of the hour, the following are some types of fraud –

– Friendly fraud

– Chargeback

The new frontier 

Companies like ethoca are making a difference in the digital money space by introducing global solutions that help customers with chargeback managementand offering several different services such as avoiding friendly fraud and recovering revenue.

In the massively dynamic and ever-changing digital space of today, there is an open and evident need for the protection of your hard-earned money against fraud; join the ethoca community and never worry again.