Newsletters - June 2020

Good News and More Good News

Welcome to the first edition of MyChargeBack’s monthly newsletter. It’s our way of maintaining contact with you and keeping you informed about our work. With that in mind, we at MyChargeBack are justifiably proud of what we’ve achieved over the last month. First, we have experienced a significant increase in the number of cardholders who have turned to us for assistance in several new categories of disputes, above and beyond traditional online investment scams. Since the outbreak of COVID-19, for example, we are now assisting cardholders regarding their travel related transactions, especially airlines flights that were cancelled due to coronavirus lockdowns.

Even before the COVID-19 pandemic began, statistical evidence shows that card-not-present transactions are growing while in-house transactions have beenfalling. That was due, of course, to online shopping. But the COVID-19 pandemichas sped up the purchasing evolution that was already underway.The coronavirus has forced many companies out of business, while many others, including banks and call centers, have been forced to radically adapt. While pushing ecommerce, the pandemic also disrupted customer service.The result of all the ongoing changes, accelerated by the pandemic, has been asurge of chargebacks at just the time that banks are least able to process them. Banks find themselves understaffed, with many of the remaining employees working from home doing unfamiliar tasks. Our thanks to Eli Waldman for an informative and interesting talk. We look forward to future webinars to cover more topics of interest and critical importanceto you. Stay tuned! We’re at work preparing additional webinars. In themeanwhile, if you missed this one, you can see it

Even before the COVID-19 pandemic began, statistical evidence shows that card-not-present transactions are growing while in-house transactions have beenfalling. That was due, of course, to online shopping. But the COVID-19 pandemichas sped up the purchasing evolution that was already underway.The coronavirus has forced many companies out of business, while many others, including banks and call centers, have been forced to radically adapt. While pushing ecommerce, the pandemic also disrupted customer service.The result of all the ongoing changes, accelerated by the pandemic, has been asurge of chargebacks at just the time that banks are least able to process them. Banks find themselves understaffed, with many of the remaining employees working from home doing unfamiliar tasks. Our thanks to Eli Waldman for an informative and interesting talk. We look forward to future webinars to cover more topics of interest and critical importanceto you. Stay tuned! We’re at work preparing additional webinars. In themeanwhile, if you missed this one, you can see it

Beyond that, as the global leader in fund recovery, a number of major international news organisations interviewed us on how COVID-19 is affecting consumers and their dispute rights. Eli Waldman (pictured above), our Director of Recovery Services, answered consumer-related questions and provided important insight in chargeback dispute rights to two of Canada’s most prestigious news outlets: Canadian Broadcasting Corporation (CBC) and the Globe and Mail. You’ll be hearing more from Eli soon. He’ll be the host of MyChargeBack’s first webinar. Details will follow, along with other interesting information, in our next newsletter!

MyChargeBack’s Latest White Paper

Will the Credit Card Industry Be Affected by the Coronavirus?

A White Paper by Michael Cohen, MyChargeBack’s Vice President of Operations

As an international fund recovery service focusing on card-not-present transactions and complex dispute resolution, MyChargeBack receives thousands of inquiries every month from cardholders around the globe. Based on our conversations with our clients, we believe that credit and debit cards will remain the world’s primary means of payment. Nonetheless, cardholders do have concerns that the spread of the coronavirus will affect the card services their banks are expected to provide.

MyChargeBack’s Tip of the Month

Are Class Action Lawsuits the Best Way to Get University Tuition Refunds?

It’s worth asking whether the one-size-fits-all solution of the class action lawsuit is the best strategy in every case. Certainly, professional guidance and assistance is far preferable to navigating the treacherous bureaucracy and entrenched inertia alone. The law firms taking these cases, however, are expensive. And the judicial process may be glacially slow.