Newsletters - December 2020

Fox News

This past month MyChargeBack continued to enhance its global status as a payments industry thought leader. In a recent Fox News article relating to Black Friday scams, MyChargeBack Vice President of Global Operations, Michael B. Cohen, was a key contributor. Mr. Cohen shared his advice on how consumers can stay safe while shopping online. Our international clients may already have noticed that his advice was quoted as well in Panama, Denmark, Poland, and India. Meanwhile, SGI, a major Canadian insurance company wholly owned by the government of Saskatchewan, even shared our advice for the benefit of its own customers across five Canadian provinces on its website.

Regardless of where you live, here are our top tips for shopping online:
  • Shop on websites of retailers you recognise
  • Verify that the website is genuine and not a clone
  • Only use encrypted payment options
  • Remember that advertisements on social media that contain embedded links to outside websites can be spoofed
  • Don't take a chance on a hard-to-believe price -- if it seems too good to be true, it probably is!
  • Online merchants who only permit transactions in cryptocurrency should be considered suspect because they can then disappear without a trace
  • When shopping online, don’t make purchases over free Wi-Fi networks, since hackers can easily gain access to them and compromise your data

Payments Cards & Mobile

Later in the month, Payments Cards & Mobile, an award-winning British
magazine geared for senior executives in the payments industry, distributed to subscribers its annual market analysis, with a preview of industry trends predicted in 2021. We are pleased to note that the survey also mentioned MyChargeBack and quoted Cohen:

Doubts about online security are just one of the many challenges high-street banks face as they seek to digitise. As Michael Cohen, Vice President of Operations at MyChargeBack puts it, “incumbent banks have been gradually developing their digital banking services while retaining their branches. But that’s not good enough for increasing segments of the [consumer] population.”

Card Not Present

This month, Card Not Present, the online hub for news, information and
analysis about the payment issues that most affect merchants, and The Green Sheet, a leading news source for the payments industry, both publicised our latest MyChargeBack White Paper, Network Effect: The Consequences of COVID-19 on Banking, Commerce and Consumers May Be Permanent and Profound. So if you have not read our White Paper yet, feel free to download it today.