Credit Card Disputes and Chargebacks Threaten Merchant Profitability

It is not news that COVID-19 led to a rise in e-commerce as consumers shifted to contactless payment options instead of shopping in-store. The same held true for restaurants, where once common card-present transactions shifted to card-not-present transactions paired with contactless pick up and curbside delivery. This payment environment shift caused by the pandemic led to a significant spike in chargebacks for merchants of all types. Fortunately, there are steps that merchants can take to protect their interests and reduce their exposure to chargebacks. What are chargebacks? According to Mercator Advisory Group, a chargeback "can be understood as a reversal [...]