Merchandise returned from ecommerce purchases was valued at more than $210 billion in 2023, and 10% to 13% of that amount was believed to involve fraud. Both returns and related fraud are growing at a rate of nearly double digits annually. The typical refund of a card payment made online involves the merchant reversing the original charge. Debit card customers see their money within three days. Credit card customers won’t see the refund for five to seven days, and sometimes not until their next billing cycle. The expense of a merchandise return, including those that are fraudulent, are...