Originally posted by CardNotPresent.com.
How much would you guess businesses lost to chargebacks in 2017? $10 billion? Maybe even $20 billion? Generous guesses—but not generous enough. Or, maybe you keep up with statistics and you read that the total cost of chargebacks came to $31 billion in a single year. Sorry, you’re still not even close.
Uncovering the True Cost of Chargebacks
To find out what chargebacks are really costing merchants, we cannot simply look at merchants or the cost of merchandise lost. Chargebacks have a dramatic “bottom-line” impact that cuts across the entire payments ecosystem. They sap sales revenue and merchandise, they saddle businesses with a host of additional fees and administrative costs and they threaten critical relationships between merchants and institutions.
Read the full article here.