{"id":7921,"date":"2017-03-08T08:58:30","date_gmt":"2017-03-08T13:58:30","guid":{"rendered":"https:\/\/www.invespcro.com\/blog\/?p=7921"},"modified":"2017-03-08T08:58:30","modified_gmt":"2017-03-08T13:58:30","slug":"e-commerce-fraud-and-chargebacks-infographic","status":"publish","type":"post","link":"https:\/\/www.invespcro.com\/blog\/e-commerce-fraud-and-chargebacks-infographic\/","title":{"rendered":"E-commerce Fraud And Chargebacks \u2013 Statistics And Trends"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>Did you know that E-commerce industry suffered an estimated revenue loss of $6.7 billion due to chargebacks in 2016 out of which 71% ($4.8b) was due to friendly\/chargeback fraud. Every dollar of fraud cost E-commerce merchants $2.40 in 2016, up from $2.23 in 2015. Check out our infographic on &#8220;E-commerce Fraud and Chargeback&#8221; for latest statistics and trends.<\/p>\n<p><strong><img decoding=\"async\" src=\"https:\/\/www.invespcro.com\/blog\/images\/blog-images\/ecommerce-fraud-chargeback.jpg\" alt=\"Ecommerce Fraud and Chargeback - Statistics and Trends\" width=\"580\" \/><\/strong><\/p>\n<p><strong>Infographic by- <a href=\"https:\/\/www.invespcro.com\/services\/landing-page-optimization\/\">Invesp Landing Page Optimization Company<\/a><\/strong><\/p>\n<p><strong>To Publish this Image on your Blog or Website . Copy this code<\/strong><\/p>\n<p><textarea rows=\"5\">&lt;a href=&#8221;https:\/\/www.invespcro.com\/blog\/images\/blog-images\/ecommerce-fraud-chargeback.jpg&#8221;&gt;&lt;img src=&#8221;https:\/\/www.invespcro.com\/blog\/images\/blog-images\/ecommerce-fraud-chargeback.jpg&#8221; alt=&#8221;Ecommerce Fraud and Chargeback &#8211; Statistics and Trends&#8221; width=&#8221;580&#8243;&gt;&lt;\/a&gt;&lt;\/p&gt;&lt;br \/&gt;&lt;br \/&gt;<br \/>\n&lt;p&gt;Infographic by- &lt;a href=&#8221;https:\/\/www.invespcro.com\/&#8221;&gt;Invesp Conversion Rate and Landing Page Optimization&lt;\/a&gt;<\/textarea><\/p>\n<p>Estimated average monthly value of Successful Fraud Transaction<\/p>\n<table>\n<tbody>\n<tr>\n<td>Year<\/td>\n<td>Estimated Value<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>2013<\/td>\n<td>$155<\/td>\n<\/tr>\n<tr>\n<td>2014<\/td>\n<td>$114<\/td>\n<\/tr>\n<tr>\n<td>2015<\/td>\n<td>$113<\/td>\n<\/tr>\n<tr>\n<td>2016<\/td>\n<td>$146<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>Top Chargeback Reasons<\/p>\n<table>\n<tbody>\n<tr>\n<td>\u00a0Reasons<\/td>\n<td>%age<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Fraud \/ No Authorization<\/td>\n<td>57.9%<\/td>\n<\/tr>\n<tr>\n<td>Cancel Recurring Billing<\/td>\n<td>18.6%<\/td>\n<\/tr>\n<tr>\n<td>Products \/ Services<\/td>\n<td>18.3%<\/td>\n<\/tr>\n<tr>\n<td>Liability Shift<\/td>\n<td>3.5%<\/td>\n<\/tr>\n<tr>\n<td>Others<\/td>\n<td>1.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>68% of online businesses were anticipating more fraud this year and 62% plan to invest more in fraud prevention<\/p>\n<p>58% of cardholders do not contact the merchant at all \u2013 filing the dispute directly with the bank. \u00a0Only 14% of cardholders contact merchants prior to charging back<\/p>\n<p>40% of consumers who file a fraudulent chargeback will do it again within 60 days and 50% within 90 days.<\/p>\n<p>Credit card chargebacks are rising at a rate of 20% per year, and friendly fraud rose 41% over the last two years<\/p>\n<p>Top Challenges for Merchants to Quickly Distinguish and Confirm Fraud<\/p>\n<table>\n<tbody>\n<tr>\n<td>Challenge<\/td>\n<td>%age<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Verification of customer identity<\/td>\n<td>60%<\/td>\n<\/tr>\n<tr>\n<td>Delay in payment confirmation<\/td>\n<td>43%<\/td>\n<\/tr>\n<tr>\n<td>Confirmation of package delivery<\/td>\n<td>44%<\/td>\n<\/tr>\n<tr>\n<td>Address verification<\/td>\n<td>45%<\/td>\n<\/tr>\n<tr>\n<td>Emergence of new and verified payment methods<\/td>\n<td>26%<\/td>\n<\/tr>\n<tr>\n<td>Limited ability to reclaim merchandise<\/td>\n<td>25%<\/td>\n<\/tr>\n<tr>\n<td>Assessment of fraud risk by country\/region<\/td>\n<td>11%<\/td>\n<\/tr>\n<tr>\n<td>Challenges in acceptance of international based payments<\/td>\n<td>13%<\/td>\n<\/tr>\n<tr>\n<td>Lack of specialized fraud prevention<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>Excessive manual order reviews<\/td>\n<td>14%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>Did you know that E-commerce industry suffered an estimated revenue loss of $6.7 billion due to chargebacks in 2016 out of which 71% ($4.8b) was due to friendly\/chargeback fraud. Every dollar of fraud cost E-commerce merchants $2.40 in 2016, up from $2.23 in 2015. Check out our infographic on &#8220;E-commerce Fraud and Chargeback&#8221; for latest [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7929,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,11,12],"tags":[85,488,489,69,88,89],"class_list":["post-7921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cro","category-ecommerce","category-infographics","tag-beginner","tag-e-commerce-chargebacks","tag-e-commerce-fraud","tag-ecommerce","tag-infographic","tag-statistics"],"_links":{"self":[{"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/posts\/7921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/comments?post=7921"}],"version-history":[{"count":0,"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/posts\/7921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/media\/7929"}],"wp:attachment":[{"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/media?parent=7921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/categories?post=7921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.invespcro.com\/blog\/wp-json\/wp\/v2\/tags?post=7921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}