We haven't done a whole lot of work on this show regarding chargebacks or the new approaches to authentication. How does fintech improve the conflict resolution process on credit card payments? Total costs associated with chargebacks can add up to nearly 10 percent of a merchant's total payment costs. A recent report published by Javelin tallied that consumer disputes and chargebacks created $31 billion in financial losses in the US, with merchants bearing nearly $19 billion of those costs.

To understand what's happening and what technology can do to improve the chargeback problem, Rick Lynch, senior vice president of business development at Verifi joins me on the podcast. We discuss the issue, the misaligned incentives in the industry, and different approaches to solving the problem