Over the past two years, global eCommerce shopping has surged, now with 54 percent of all adult consumers shopping online more frequently than they did before the pandemic.1 This increase in eCommerce transactions has also led to a 39 percent increase in chargebacks according to a recent study featured in PYMNTS.com on Tackling the Chargeback Surge.
A chargeback is the result of a payment transaction disputed by a cardholder or card issuer, and proper handling of disputes can mitigate the impact of chargebacks. As identified in the study, there are four main reasons consumers cite for filing a dispute: service errors, customer confusion, fraud and first-party misuse.1 There are several prevention strategies that you can put in place for each one of these dispute reasons that can minimize a drain on your resources and bottom line.
Put us to work for you
We have teams that are knowledgeable about risks, handling procedures, and best practices when it comes to eCommerce transactions. If you’ve experienced an uptick in chargebacks, I invite you to contact me to discuss effective ways to manage your chargeback disputes.
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