Key industry data from Chargebacks911 was cited in a new feature published by the Wall Street Journal, highlighting the current state of cardholder chargebacks.
The Wall Street Journal, also referred to simply as the Journal, is an American newspaper based in New York City, with a focus on business and finance. Founded in 1889, the Journal has led the way in chronicling the rise of industries in America and around the world ever since. They are the second-largest newspaper in the United States by circulation, reaching more than million subscribers.
Shoppers dispute millions of credit card charges every year. And, as noted in the piece, they usually win. After a chargeback, the only way for merchants to recover their funds is through representent, which is an uphill battle.
To make matters worse, many cardholders see no difference between chargebacks and merchant refunds. They are oblivious to the added fees and penalties that merchants receive due to chargebacks.
“A majority of people said they view disputes as a valid alternative to requesting a refund from a merchant,” the piece notes. “Half said they have disputed a transaction without first contacting the merchant, according to a January survey of about 4,000 people by Chargebacks911, a company that helps businesses fight false disputes.”
