The eCommerce market is worth trillions. However, as David Pirtle of Chargebacks911 notes in a few feature for EcomCrew, much of that profitability could be undercut if chargebacks are not managed effectively.
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Cardholders will file 615 million chargebacks this year, as David notes in the piece. “Given an average chargeback cost of $191, that means buyers will have disputed more than $117 billion worth of credit and debit card purchases this year alone,” he says.
Clearly, chargeback management should be a priority for all merchants. But, even given the scale of the problem and what is at stake, effective chargeback management remains an elusive goal for most.
“The chargeback process is complicated; there are multiple parties involved, as well as tight deadlines and evolving regulations. In many cases, shoppers have no idea that their claims are even invalid. Your strategy must take all of this into account,” David explains.