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Tuesday, June 19, 2018

Collaborations reduce chargebacks, study finds

A Javelin Strategy & Research study, underwritten by Verifi and published in May 2018, cites communication gaps as a leading cause of disputes and chargebacks. The 36-page report, titled The Chargeback Triangle, examines chargeback costs and impacts while demonstrating how to prevent chargebacks by resolving open issues.

In 2017, chargeback volumes reached $31 billion, including $19 billion in merchant losses and $12 billion in issuer losses, researchers found. Matthew Katz, CEO at Verifi, said improved collaboration among industry stakeholders would dramatically reduce these numbers.

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