Chargebacks911 and Card Not Present (CNP) have revealed research on the state of chargebacks and chargeback management in relation to CNP payments.
The study, conducted on over 200 online, multichannel, and mobile commerce merchants, found that friendly fraud was the number one cause of chargebacks. 56% of all respondents reported an increase in the instances of friendly fraud over the past three years. 31% per cent of respondents suggest that identifying friendly fraud is their biggest challenge. Disputing chargebacks was listed as a close second at 29%.
Moreover, survey respondents that do not dispute chargebacks were asked why not, and their responses included a lack of sufficient resources and belief they couldn’t win any of their representments even if they tried.
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