Chargeback Statistics – The Numbers You Shouldn’t Ignore

Did you know that chargebacks can cost businesses between $80 and $100 billion every single year? Unfortunately, that’s only the tip of the chargeback iceberg. The deeper you dig, the more unsettling the chargeback statistics become.

Almost 50% of all revenue losses associated with frauds come as a direct result of chargebacks. What’s even worse, the same percentage of cardholders who have filed an illegitimate chargeback is very likely to do it again within the next three months.

Get Your Business Back On Track – Fight A Chargeback

Talking about the depressing chargeback statistics, we need to ask you this question. Has your business been a victim of the so-called “friendly fraud?” We are referring to the chargebacks that occur as a result of your customer’s failure to remember your business name on his or her credit card bill. It’s a little bit hard to believe that someone could forget ordering a product, but this isn’t an uncommon thing for some customers. The next thing you know, you have to deal with a chargeback filled by a customer you have never expected he would do such a thing to your business.

It’s really a heartbreaking fact to accept that between 60% and 80% of all chargebacks have something to do with these so-called “friendly fraud.” Whoever came up with a line that “with friends like these who needs enemies,” is very likely to have had some tough times with these “friendly” chargebacks.

Chargebacks Can Cause A Lot Of Stress, But Your Business Isn’t Helpless

You can’t run a successful business by living in the constant fear of the next chargeback, can you? At the same time, you can’t simply decide to ignore these pessimistic chargeback statistics.

ResponseCRM understands your customers and we can help you anticipate their needs. Chargeback Management is a part of our Effective Customer Management package. We can fight the chargebacks together. Remember, not all chargeback statistics are against you and your business. In more than 80% of all chargeback cases, these requests are wrongfully filed against the businesses. This number alone should motivate you to fight chargebacks. Together, we will increase your chargeback representment success rate.

After all, not all chargeback statistics have to be bad. Right?

ResponseCRM is the leading CRM & e-commerce solution provider. Blending cutting edge technology with advanced payment processing and support, you can’t find a better system that can offer what we offer at such a low cost. With no setup fees, no monthly licensing fees, and only $0.06 cents a transaction, you have nothing to lose. If you sell online, you need ResponseCRM!

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