Clarity is Key: The Link Between Transparent Billing and Chargeback Reduction
How Card Disputes Are an Opportunity to Cultivate Customer Loyalty
For credit card providers, a chargeback prevention strategy is also a customer retention strategy because nearly one-third of consumers who disputed a charge said they may not use that card again. Providing clear information about the source and amount of charges could decrease the rate of chargebacks, according to PYMNTS Intelligence’s latest study, “How Card Disputes Are an Opportunity to Cultivate Customer Loyalty,” a collaboration with Banyan.
Inside the October Study
- 61%: Share of consumers who disputed a card charge in the last year because it was unclear
- 41%: Portion of sporadic users of cards who will not continue to use their card after dealing with a charge dispute
- 52%: Share of consumers who say that speedy processing of a card charge dispute is a key reason they were satisfied with its resolution
