Monica Eaton Says Chargebacks May be on the Way
Chargebacks911® COO Monica Eaton is a global expert on payments and chargebacks. She recently shared her thoughts on the current situation facing the travel and entertainment industries regarding the coronavirus, and what may result from it down the road.
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Every corner of the global market is feeling the impact of the coronavirus pandemic. Few are experiencing the effects as acutely, though, as the travel and tourism industries. The situation is likely to worsen, though, with an anticipated spike in chargebacks as travelers put vacation plans on hold.
"Imagine you've been saving for a dream vacation, you book the ticket and then are forced to cancel… only to discover the operator has no refund policy," Monica says. "It's a very unfortunate situation that could well result in a chargeback claim."
Fears regarding the coronavirus spread are compounded by other troubles in the industry. For instance, European carrier Flybe was already teetering on the verge of collapse before the pandemic pushed it over the edge. And, if the economic situation worsens over the coming months, things could yet get worse.
