The upcoming virtual summit, focused on first-party misuse or friendly fraud, will bring together merchants, issuers, regulators, and other industry experts to work toward solving this pervasive threat.
The MRC is taking an important step forward in the ongoing fight against first-party misuse with the First-Party Misuse/Friendly Fraud Summit on November 9th, 2021. The goal of this virtual MRC event, sponsored by Ethoca, Inc., is to highlight the explosive growth of this problem and bring industry experts together to start solving it.
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“The threat of first-party misuse, commonly referred to as friendly fraud, has never been more prevalent,” says Julie Fergerson, CEO of the MRC. “The impact on everyone, especially merchants, has been enormous. Our recent Global Fraud Survey points to first-party misuse being the single most important issue for merchants to solve right now. It’s not just impacting digital goods; physical goods verticals are being hit as well. We all need to work together to find a solution to this problem, and quickly. That’s what this summit is all about.”
The summit agenda has been carefully designed to highlight a diverse group of speakers, including merchants, issuers, and other industry experts. This was done to ensure a comprehensive exploration of the issue that touches on the perspectives and concerns of all involved. The speaker lineup includes subject matter experts from companies like Mastercard, Microsoft, Verifi, Isparax, Capital One, Clarus Commerce, PSA Payment Services Austria, Richemont, Ethoca, Stripe, Sony, PayPal, and Aite-Novarica Group.
“I’m hoping this virtual event will help mobilize the substantial expertise and ingenuity of the payments and fraud prevention community,” says Fergerson. “The best chance we have to decrease first-party misuse is through industry-wide collaboration. This summit is the perfect place to start that process.”
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