According to the press release, data-driven decisions are an essential part of a successful chargeback management strategy. However, key insights are often difficult to determine and challenging to understand. Midigator’s goal for ‘The Year in Chargebacks’ is to provide valuable, relevant data that can easily be used to enhance current management strategies. The report serves as a benchmark to evaluate individual efforts and also gauge the industry as a whole.
Therefore, the takeaways of the 2020 report highlight the dynamic, evolving nature of payment disputes through insights such as:
Ongoing, technology-assisted chargeback prevention efforts continue to prove effective – the study’s chargeback-to-transaction ratio has decreased 31% since 2017.
The high chargeback-to-transaction ratios for Peru, India, and Dominican Republic remained steady from 2017 to 2019. Norway, New Zealand, Sweden, and Switzerland had consistently low ratios. However, risk in other countries fluctuated year-over-year.
Card brand regulations for compelling evidence have changed, but 55% of study participants chose not to collect the information that’s required to win. As a result, win rates for certain fraud-coded disputes dropped 45% between 2018 and 2019.
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