Chargebacks are a significant and growing challenge in the payments industry. In fact, a recent study showed that merchants paid more than $100 billion in chargebacks in 2023. The rapid growth in e-commerce, rise in fraud, and consumers’ increasing willingness to file chargebacks are making dispute management an increasingly challenging and complex job.
However, many merchants and processors still operate with legacy back office systems, making it difficult to keep pace. Fortunately, merchants and payment processors can now access new solutions to improve the back office processing of disputes.
Check out this recent article in PaymentsNEXT by Donna Blum of BHMI. In this article, Donna describes how consolidation and automation enables companies to gain more insight and control, streamline processes, and reduce claims losses.