There’s no denying that the subscription economy is booming. In fact, the financial services firm UBS projects that the market will hit $1.5 trillion by 2025. Yet despite that robust figure, there is a looming challenge for merchants — chargebacks.
So what exactly are chargebacks? Chargebacks occur when funds are withdrawn from a merchant’s account due to a customer dispute. They can severely impact revenue and tarnish a merchant’s reputation. Typically, these disputes arise from fraudulent activities, billing issues, unmet expectations or technical errors like duplicate charges.
Given the impact chargebacks can have, understanding and preventing them is crucial for maintaining profitability and customer loyalty. Learn how merchants can greatly reduce the risk of chargebacks by reaching out to Chargeback Gurus, the leader in chargeback prevention and recovery services for ecommerce payments.