As online commerce continues to surge, chargeback fraud victimizes more and more retailers. Experts report that chargebacks will cost merchants over $100 billion in 2023, and false claims and abuse of the chargeback process are a growing threat to merchants.
And yet many retailers remain unaware of chargeback fraud and its harmful impacts on business revenues.
However, there is a good reason why: fraud and first-party abuse is hard to identify. Customers dispute a valid transaction for many different reasons.