One-third of participants said that the costs associated with chargebacks have directly impacted the end price of the goods or services provided, as noted in a new article published by TWICE.
TWICE is a leading news outlet serving the B2B needs of those in the technology and consumer electronics industries. They cover consumer technology through a suite of digital offerings, including eNewsletters, events, whitepapers, videos, and webinars. Leading companies turn to TWICE for their perspective and analysis in the ever-changing and fast-paced environment of consumer technology.
The Chargeback Field Report is an annual study published by Chargebacks911, surveying hundreds of merchants about their experiences with fraud and chargebacks. The report offers a fascinating look into the day-to-day struggles of merchants, and offers guidance as to what can be done to curtail disputes.
“In the U.S., the right to dispute transactions is protected by federal law. Unfortunately, our survey results suggest that the majority of customer disputes are actually illegitimate,” Chargebacks911 CEO Monica Eaton explains in the piece. “In fact, major card networks estimate that as much as 70% of all credit card fraud can be traced to chargeback misuse, or ‘friendly fraud,’ an issue that surveyed merchants say has increased nearly 20% over the last three years.”
