Chargeback Management is Essential on the Post-COVID Road to Recovery

Chargeback Management is Essential on the Post-COVID Road to Recovery

Monica Eaton-Cardone’s Latest Guest Feature for Global Banking & Finance Review

In a new feature for Global Banking & Finance, Chargebacks911® COO Monica Eaton-Cardone says that the mid- to long-term ramifications of COVID-19 could last much longer than we realize.

Global Banking & Finance Review is a leading financial portal and print magazine offering news, analysis, reviews, and much more on the topics of banking, trading, wealth management, and technology. Millions of finance professionals and consumers read and trust their content every month.

COVID-19 has had a substantial impact on the global market. But, as Monica explains in the piece, we are not likely to see the end of those impacts any time soon. “We can expect the rise in chargebacks to continue increasing even as the world attempts to return to some form of normality in the coming months,” she says.

Merchants need to take steps to respond to this reality. Otherwise, they could see incalculable losses in the long-term as the effects of COVID-19 ripple through the payments space.

“[Chargebacks] shouldn’t be accepted as a cost of doing business and their exponential growth should be viewed as an issue that can damage a company’s profits beyond repair. For this reason, companies should ensure that chargeback management is a staple point of their recovery plans. This will go a long way towards protecting businesses from filing for insolvency, while helping to restore the economy following the pandemic.”