Optimizing Dispute Strategies
- Date:October 12, 2020
- Author(s):
- Rachel Huber
- Report Details: 21 pages, 8 graphics
- Research Topic(s):
- Tech & Infrastructure
- PAID CONTENT
Overview
Consumer disputes of transactions are impacting the financial services industry. From disputes for canceled vacations, packages never received, or disputes through non-financial services platforms, the industry has seen a wave of chargebacks and disputes, with no discernible end in sight. Often a manual process, at a time when operational staff numbers are depleted, chargebacks have moved from a back-office concern to the forefront of payment authorization strategies. This report evaluates consumer needs for disputing transactions and the challenges faced, and offers guidance on how financial services—both issuing and merchant—can improve the dispute experience to retain customers.
Key questions discussed in this report:
- Why must the disputes process be overhauled?
- What steps can be taken to optimize the disputes process?
- What are in-market examples of companies offering needed dispute features?
Methodology
The data in this report was primarily collected in May 2020 from a random-sample survey of 3,000 U.S. consumers. The consumer payment survey was conducted online with a margin of error at +/- 1.79%.
Learn More About This Report & Javelin
Related content
Banking as a Service and Self-Inflicted Wounds
The “unbundling” of financial services through banking-as-a-service arrangements cast risk and compliance into a gray area. This was underscored by the failure of BaaS provider Syn...
Cloud Vendors and What They Bring to Payments
Providers of cloud services have made strong plays for financial institutions in recent years, and accordingly, banks have begun migrating data and applications to the cloud rather...
Managing Cards as a Service
Companies that provide card-as-a-service (CaaS) offerings are flourishing under a range of descriptions. The overlaps among CaaS providers, banking-as-a-service (BaaS) providers, a...
Make informed decisions in a digital financial world