Riskified, a fraud prevention and risk intelligence leader, unveiled this week a report titled "Chargeback Challenges and What You Can Do About Them: Global Insights 2024."
The survey of over 300 ecommerce chargeback managers worldwide reveals significant revenue losses due to uncontested chargebacks, even when merchants believe many chargebacks stem from first-party fraud.
Key findings include a rise in chargebacks, with 76% of managers seeing as many or more year-over-year, and nearly 60% leaving at least two in five chargebacks undisputed. Over 55% find chargeback management too time-consuming and manual, and over 65% want AI and automation to streamline the process.
The report highlights the need for merchants to adopt advanced technologies like Riskified's Dispute Resolve to automate disputes and recover more revenue.
