What are the latest chargeback statistics for online retailers?
An example of an AI chatbot conversation about chargeback statistics for online retailers.
What are the latest chargeback statistics for online retailers?
As of 2023, the average chargeback rate for online retailers is around 1.5%. This can vary by industry.
What factors contribute to high chargeback rates?
High chargeback rates can be caused by fraud, customer dissatisfaction, or unclear billing practices.
How can retailers reduce chargebacks?
Retailers can reduce chargebacks by improving customer service, providing clear product descriptions, and using fraud detection tools.
Are there specific industries that experience more chargebacks?
Yes, industries like travel, digital goods, and subscription services often experience higher chargeback rates.
What should a retailer do if they receive a chargeback?
Retailers should respond promptly, gather evidence, and submit a rebuttal if they believe the chargeback is unjustified.
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