I want to calculate how much money the bank would lose when a fraud occurs with each of these vendors. Here is the dataset. I am struggling and will greatly appreciate any help.
Vendors | Cost per card | Reissue Cost | Fraud incident cost (per incident) | Fraud rate per 1000 transactions |
Helcim | $0.0014 | $20 | $350.00 | 0.4 |
PayPal | $0.0251 | $25 | $150.00 | 0.5 |
National Processing. | $0.0145 | $22 | $320.00 | 0.3 |
Square | $0.0363 | $30 | $120.00 | 0.4 |
Stripe | $0.0251 | $25 | $220.00 | 0.1 |