Global Risk Technologies™, a leading technology company specialising in chargeback compliance, released a new Chargeback Playbook that details the top six most common pitfalls that merchants need to look out for in relation to chargebacks.
UK online spending is expected to grow by 14% to reach £156.67bn in 2015 and chargebacks are threatening merchants like never before, costing over €10bn (£7.5bn) in industry losses, compared to around €2bn (£1.4bn) lost through ID fraud, according to Visa.
All merchants will at some point deal with chargebacks. As well as losing the money when a disputed card payment is charged back to them by their bank, they lose the cost of the goods or service they provided.
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