In 2023, global sellers faced a staggering loss of $117.46 billion due to cardholder disputes, with first-party misuse of chargebacks emerging as a major issue.
Seventy percent of merchants in the survey indicated that friendly fraud was a "moderate" or "significant" concern, reflecting a deep-rooted issue facing retailers today.
Over the last three years, 72% of surveyed merchants reported increases in friendly fraud cases, with many noting an average rise of 18% in instances.
Mastercard's estimate predicts a 42% increase in chargeback volumes from 2023 to 2026, suggesting that merchants will face higher costs and operational challenges.
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