Digital payments are increasingly leading to a rise in chargebacks, anticipated to hit 324 million globally by 2028. North America is expected to see the most significant rise, with chargebacks reaching 132.9 million and valued at $20.47 billion by that year. Not all sectors are equally affected, as the travel and hospitality industries report the highest average chargeback values, largely due to customers bypassing direct merchant contact when disputes arise. Additionally, fraudulent chargebacks pose a unique challenge for merchants, complicating resolution efforts as they account for 45% of overall chargebacks.
The explosion of digital payments is driving chargebacks to unprecedented levels, projecting 324 million global chargebacks by 2028, with North America leading the surge.
In North America, chargeback volumes are expected to rise sharply, costing businesses over $20 billion as a direct consequence of increasing digital transactions.
Travel and hospitality sectors are facing the highest chargeback values, often due to third-party booking issues where customers bypass merchants for resolutions.
Fraudulent chargebacks account for nearly half of all chargebacks, complicating the management process for merchants who struggle to handle the financial burden.
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