Merchant acquirers are making big changes to fight a recent surge in card fraud, but those changes could cost credit unions a lot of money.

According to Monica Eaton-Cardone, co-founder and COO of dispute mitigation and risk management firm Chargebacks911, a spike in card-not-present fraud in recent months has prompted acquiring banks to put more and more online retailers on their unapproved lists. The result is a mushrooming number of declined transactions, which could threaten interchange income for credit union card issuers.

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Tina Orem

Credit Union Times

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