The 2024 Chargeback Field Report is here, and some of the data from the report was recently published in a new feature by the Payments Association.
The Payments Association is the largest community in payments. Founded in 2008, the association operates in the UK, EU and Asia, helping almost 300 companies enhance their commercial interests, solve societal problems such as financial exclusion and evaluate new opportunities for innovation in payments.
As we’ve covered here on our blog many times, unclear or confusing billing descriptors are among the most common causes of invalid chargebacks. And, as the Chargeback Field Report shows, the problem is widespread.
“I don’t think there has been a more seismic shift in the way we shop than there has been over the last decade,” said Monica Eaton, Founder and CEO of Chargebacks911. “If merchants are not strategizing with the card networks and their merchant account rep to produce clear billing descriptors, then they risk financial and reputational damage as consumers more often than not will contact their banks to dispute the charges.”
