Chargebacks are the result of a consumer transaction reversal request. While the consumer is obligated to resolve the issue with the merchant before requesting such a reversal, this step in the process is often overlooked.

Chargebacks (originally meant to help consumers) are a growing concern for modern merchants.  And at the rate they’re increasing, it’s no wonder why.

From 2016 to 2017, chargebacks jumped 179 percent, costing merchant’s 1.9 percent of their total annual revenue.  Add in the potential threat chargebacks pose to your reputation and merchant accounts, and you’ve got a pretty serious problem on your hands—no matter what line of business you’re in.

Full Text:
https://www.chargebackgurus.com/blog/merchant-chargebacks-101-what-they-are-why-they-matter

©Chargeback Gurus 2020
Production: Tyler DeLarm
Narration: Sarah Rife