Kount Launches Inaugural Report on the 2018 State of Chargebacks

02-Feb-2018

Joint Study Reveals Incredible Insight into Chargeback Influence of Online and Mobile Merchants

Kount, a leading innovator of solutions for fraud and risk management, and Chargebacks911 today released the 2018 State of Chargebacks Survey, the inaugural report assessing the current state of fraud and chargeback management in card-not-present (CNP) transactions.

The first of its kind to focus on chargebacks, the survey shines a light on the state of fraud within the Card Not Present (CNP) channel, including key facts and figures such as chargebacks, disputes and win rates. More than one thousand respondents, representing organizations of all sizes and industries and across varied geographical areas, participated in the survey, sharing their experiences, insights, and performance related to managing risk and chargebacks for online and mobile commerce.

“Chargebacks within the CNP channel are a growing concern among online merchants,” said Brad Wiskirchen, CEO of Kount. “This inaugural report was important for the industry to understand the state of the market today, the current challenges that merchants face, and the fraud technology and tactics that they are deploying to combat chargebacks.”

Specific results and findings of the survey include:

Acceptable Fraud and Dispute Organized by Industry

The report found that while most merchants are actively disputing chargebacks (82%), 10 percent are in excessive chargeback programs and almost one in four (24%) state they had no idea what their actual win rate was when it came to those disputes.

While 70 percent of merchants have a target chargeback rate of 50 basis points (0.5%) or less, just 47 percent of organizations reported achieving chargeback rates below this level. What industries have the highest chargeback rates? The survey found that approximately 40 percent of organizations in the Financial Services and Education/Training industries have chargeback rates exceeding one percent (39% and 43%, respectively). Merchants selling digital goods and services are more comfortable maintaining a higher target chargeback rate as well.

Read the entire article at www.paymenteye.com