Chargebacks Hold Merchants Back in a Booming Economy
Chargebacks911® COO Monica Eaton-Cardone is a regular guest for Newmax Finance. In her latest appearance, Monica takes a look at chargebacks and how they’re holding merchants like you back during a booming market.
Do You Know the True Cost of Chargebacks?
“The total estimated cost of chargebacks reached $31 billion in 2017,” Monica explains. “Even then, $31 billion a year is a conservative estimate of the real economic impact of chargebacks. Some sources say it could be as much as $80 billion or more…”
Monica expands on that idea further, looking at all the declined sales generated by false positives from antifraud technology. Merchants often rely on tools with overly-strict standards out of fear of getting a chargeback. When you take that into account, the economic impact of chargebacks could be more than $150 billion every year!
There is an answer, though. As Monica explains, “Mitigating the impact of chargebacks is incredibly difficult without expert insight and analysis.” With the right tools and strategies, you can stop your next chargeback before it happens.