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Chargeback Statistics

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Chargeback Statistics

(Updated September 2021) 

Chargebacks are a huge headache for any business. Not only do businesses lose profit and merchandise, they often have to pay fees to their credit card processor, and it costs a lot to dispute. Most chargebacks are due to fraudulent activity known as friendly fraud, where it’s almost impossible to determine if a transaction is fraudulent until it is too late. Let’s take a look at chargeback statistics. 

Average U.S. Household Consumer Debt Profile:

  • The average chargeback ratio across all industries is 0.60%
  • Retail and travel industries have about a 0.50% chargeback rate
  • In 2017, The average merchant had 306 successful fraudulent transactions per month.
  • In 2018, the average merchant lost 1.8% of total revenue due to fraud.
  • Every $1 of fraud now costs US retailers $3.36 in 2020, while it was $3.13 in 2019.
  • 30% of chargebacks are from purchases made with a stolen credit card.
  • Only around 60% of merchants dispute their chargebacks.
  • Merchants have a chargeback win rate around 21%.
  • EMV Terminals help offset fraud risk.
  • In 2018, Identity theft was the 3rd largest cause of fraud in the USA.
  • Credit card fraud increased by 18.4 percent in 2018 and is still climbing.
  • Card not present fraud is now 81 percent more likely than point-of-sale fraud, and is the biggest source of chargebacks across all industries.
  • Card-not-present fraud is the biggest source of chargebacks.
  • eCommerce merchants are on track to lose $20 billion in 2021 because of criminal activity.

Chargeback Ratios: The Lower the Better

Chargebacks will be a reality for every business that accepts credit cards or debit cards as payment. Every industry strives to have a chargeback ratio that is as close to zero as possible. The prevalence of chargebacks in your particular industry as a business owner will determine whether or not your business is considered high-risk by credit card processing companies.

YOUR INDUSTRY MATTERS

Across all industries, the average chargeback to transaction ratio is 0.60%. This translates to 6 out of every 1000 transactions will be a chargeback. 

Retail and travel industries have about a 0.50% chargeback rate. Merchants who sell physical goods tend to have a chargeback ratio at or below 0.5%. Merchants who sell digital goods or services have a high chargeback ratio.

Financial Services and those in education/training industries are seeing a chargeback to transaction ratio exceeding the 1% maximum that most merchant account providers impose. Those businesses that provide a consumer with intangible services instead of physical products have a higher risk of chargebacks, due to the nebulous nature of consumer expectations. 

Identity Theft: The Main Cause of Chargebacks

30% of chargebacks are from purchases made with stolen credit card information. 

Somehow, some fraudster accessed your credit card information and used it to make purchases. Luckily, you noticed right away and called your credit card issuer to inform them of the fraudulent charge. They issue a chargeback so you as the consumer, won’t have to pay for the charges. While most credit card processors won’t hold the consumer liable for the purchases, the merchant will still lose their merchandise and revenue. 

And you’re left wondering, how did my credit card information get stolen in the first place?

woman discovering fraud on her credit card

How do credit cards get stolen?

Credit card information is often obtained online through data breaches. A company or online presence that has your credit card information can be prone to hackers who can access your personal information if they gain access to the company’s system. 

Credit card information can also be gained online through phishing scams, keylogging, and malware. If it sounds suspicious, it probably is. So don’t click through any links or give out your personal information. 

And of course, your credit card information can be stolen through pickpockets, skimmers, or crimes of opportunity (like when your server takes your credit card at a restaurant). 

Most fraudulent charges and fraudulent chargebacks are made from online or card-not-present purchase transactions. In fact, card not present fraud is now 81% more likely than point-of-sale fraud. Point-of-sale transactions and EMV terminals have security measures in place to decrease the risk of fraud, such as cardholder verification and identity verification tools. However, online and eCommerce merchants and other CNP transactions have yet to have the same robust security measures in place. 

Chargeback fraud

Unfortunately, chargeback fraud is very difficult for a merchant to prove. Since most chargeback fraud is due to card-not-present type of transactions, it is difficult to trace. And since fraudulent chargebacks are higher in industries where a service is rendered instead of a physical product or the outcome is subjective, the waters get even muddier. It becomes more difficult to sort out illegitimate chargebacks.

 It also takes time and money for a merchant’s legal team to manage disputes and fight chargeback claims. Only about 60% of merchants dispute their chargebacks because the win rate for the merchant is about 1 in 5.

Fraud prevention is a concern for every business owner. Thankfully, there are some steps business owners can take for chargeback prevention to help decrease their chargeback ratio and keep revenue in their own pocket, instead of losing it to criminal activity. 

The High Cost of Credit Card Fraud

Identity theft was the 3rd largest cause of fraud in the USA in 2018. Credit card fraud and identity theft go hand in hand, so it’s no surprise that chargebacks follow. In fact, credit card fraud increased by 18.4 percent in 2018 and is still climbing. 

While there are many features on a point-of-sale system to prevent fraud, it’s no surprise that with the rise of online shopping that Card not present fraud is now 81 percent more likely than point-of-sale fraud. It’s so easy for someone to use your credit card numbers to make an online purchase, especially if it’s from identity theft. In fact, in 2017, the average merchant had 306 successful fraudulent transactions per month. 

The cost of fraud climbs ever higher for US retailers as well. Every $1 of fraud now costs US retailers $3.36 in 2020, while it was $3.13 in 2019. In 2018, the average merchant lost 1.8% of total revenue due to fraud.

Prevent Chargeback Fraud

Of course, the old saying goes, an ounce of prevention is worth a pound of treatment. Having protocols in place that are specifically designed to offset fraud risk can help get your chargeback ratio down and leave more money in your pocket. Cardholder verification practices are key for fraud prevention.

EMV Ter​minals help offset fraud risk

Because of chip and pin technology, EMV terminals are specifically designed to stop fraud at the point of sale. Ensure that your cashier knows and follows proper procedures for operating the EMV terminal, especially when it comes to cardholder verification. Fraud is more likely to affect your business if certain security measures are bypassed. 

But EMV terminals are only for brick and mortar stores or in person services. Ecommerce merchants are vulnerable to online fraud from card-not-present transactions. To prevent someone from making a purchase on an online site, online business owners point-of-sale system should use consumer protection mechanism and cardholder verification strategies, such as card verification value, address verification services, and email verification to offset their risk of successful fraud charges and lost revenue.

Common Questions on Chargebacks

How common are chargebacks?

They are becoming more and more common due to fraudsters manipulating a system that is really supposed to protect the consumer. 30% of chargebacks are from purchases made with a stolen credit card. Fraudulent chargebacks hurt businesses and cost a lot of money to process, not to mention lost revenue. 

What is a good chargeback rate?

A chargeback rate is the ratio of chargebacks to transactions. The closer you are to 0 the better, and most merchant account providers consider a 1% chargeback rate as the maximum they will tolerate. So for example, If you have 100 transactions in a month, and you have 1 chargeback, your ratio is 1%. 

Are chargebacks the same as a refund?

Chargebacks are not the same as refund, although it does involve a customer getting their money back. There are generally 3 parties involved in any transaction: the merchant (store), the merchant account provider (credit card processor and bank account), and the customer (the customer.) A refund is a transaction that is between the merchant and the customer. The customer goes to the merchant directly, and the merchant issues a refund based on their terms and conditions. Problem solved, money returned, no harm, no foul. But for whatever reason, sometimes a customer will go to the issuing bank of their credit card instead of the merchant and file a dispute (aka chargeback) instead of directly contacting the merchant to reconcile and get a refund. This is where things get sticky. There are generally now 5 parties involved when requesting a chargeback. There are some shady merchants out there, and there are times when legitimate reasons arise to file a chargeback. For example, you’ve been charged for a product and received something completely different, but a merchant refuses to issue a refund when they are clearly in the wrong. In this situation, a consumer could file a chargeback. Customers can engage in fraudulent activity, too. In the industry, some chargebacks are due to what is known as “friendly fraud,” meaning the consumer will get exactly what the product asked for and then will not have to pay because they claimed they were cheated by the merchant and issued a chargeback with their credit card company.The majority of chargebacks and losses are due to fraudulent activity from stolen credit cards. Someone steals your credit card information and uses your credit card to make a purchase. You take notice and notify your credit card company immediately so that you’re not responsible to pay for something that you did not purchase. Unfortunately, the business loses both profit and merchandise with successful fraudulent chargebacks.Obviously, chargebacks are a headache and no one really wants to deal with them. The card issuer ultimately will decide which party pays. Chargebacks are more common in high-risk industries because of the prevalence of fraud. In fact, it’s one of the defining characteristics that can contribute to your business being labeled as a high-risk merchant. 

Chargeback statistics

downloads and resources

Data Resources

  • chargebacks911.com
  • chargeback.com

Conclusion

There are some shady merchants out there, and there are legitimate reasons to file a chargeback. For example, you notice fraudulent charges but a merchant refuses to issue a refund, or the store sent the wrong product or charged for something you didn’t order. 

Customers can engage in fraudulent activity, too. In fact, most chargebacks and losses are due to fraudulent activity from stolen credit cards. This happens when someone is engaging in what is known as “friendly fraud,” meaning they get exactly what the product asked for and still don’t have to pay because it was from a fraudulent account. With successful fraudulent chargebacks, the business loses profit and merchandise. 

Obviously, chargebacks are a headache and no one really wants to deal with them. The card issuer ultimately will decide which party pays. Chargebacks are more common in high-risk industries because of the prevalence of fraud. In fact, it’s one of the defining characteristics that can contribute to your business being labeled as a high-risk merchant. 

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Example of High Risk Merchants

  • 1-900 Phone companies – If you’re the type of company that charges people to have a chat on the phone, you’ll be considered high risk.
  • Adult Bookstores – Clearly a part of the adult entertainment industry, and an easy mark for the high risk tag.
  • Adult Entertainment – Any business labeled with the “adult” descriptor will automatically be assigned a high risk status.
  • Adult Toys – As “adult” is in the name, it’s an easy target for association with the adult entertainment market.
  • Airline Industry – Due to cancellations on high ticket purchases, this will put your airline company in the high risk category
  • Amazon Stores – By having a high rate of return, Amazon stores are seen as high risk.
  • Ammo Sales – Association with the weapons industry guarantees high risk status.
  • Annual Contracts – Any time an annual contract is involved it can be considered highrisk because most consumers forget they signed up and chance of chargeback can be high.
  • Antiques – With a high average ticket per item, antiques are considered a risky merchant type.
  • Astrology – The study of the celestial bodies and the influence on human affairs can be a chargeback target if customers feel like they aren’t getting the answers they want.
  • Auctions – Because of the nature of bidding on a product and not having a set price the risk level goes up.
  • Autographed Collectables – There is almost always a question as to whether an autograph is authentic, and therefore chargebacks are much higher in this industry.
  • Automotive Brokers – Brokers of automobiles have a very high average ticket are are therefore of higher risk.
  • Bankruptcy Attorneys – Since the people who are working with bankruptcy attorneys are usually in financial trouble, the odds that a payment would be charged back is higher.
  • Betting Services – In many states betting is illegal but for the legal states betting with a credit card has huge chargeback implications.
  • Brokering – When a third party is involved with selling a product the risk level goes up ten fold.
  • Business Loans (Merchant Cash Advances) – Loaning money is always risky, but with business loans and startup lending, high risk is present by the nature of the business.
  • Casino – Just like a betting service, if a customer gambles with their credit card the chargeback rate sky rockets.
  • CBD Products – CBD itself poses high chargebacks because of the legitimacy of the product and the health benefits promised.
  • CBD E commerce – CBD E Commerce has twice the charge back of retail CBD because many consumers don’t feel like the product they receive gives them the benefits promised.
  • Check Cashing (Check Processing) – The level of fraud in check cashing and cash advances is what gives this industry a higher risk consideration.
  • Cigarettes – With higher levels of risk for theft and criminal activity, cigarette sales are deemed high risk.
  • Collection Agencies (Collection Agency) – Many banks see collections as an unsustainable business model that is many times unreliable.
  • Collectible Coins – A higher level of chargeback in this industry gives it a high risk tag.
  • Collectible Currency – Due to the level of inauthentic collectibles, the risk of chargebacks are much higher with collectibles.
  • Copyrighted eBooks – When someone sells something copyrighted without permission many legal issues can arise.
  • Coupon Programs – With many coupon programs the coupons expire and once they expire the consumer wants the money back they spend.
  • Credit Counseling – Due to their clients usually being in financial problems, this industry is fraught with non-payment and fraud.
  • Credit Protection – Most people that need credit protection are bad with money so chargebacks abound.
  • Credit Repair – If a consumer needs credit repair then chances are they are a high risk for chargebacks.
  • Currency Sales – Many businesses that exchange currency do it at incorrect rates hence more chargebacks.
  • Dating Services – Dating is a volatile industry, and is also lumped in with the adult entertainment industry, making it a high risk account.
  • Debt Collection Services – As the collection of debt isn’t always possible, this industry retains the tag of risky.
  • Debt Consolidation Services (Debt Consolidators) – Consolidating debt is a challenging business and as debt is usually the problem, it’s seen as unsecure from a payment perspective.
  • Debt Repair Services – Since the clients of debt repair services are usually having financial challenges, it makes this industry seem a higher risk.
  • Discount Health Programs – Many people don’t feel they are really getting a discount so they try to get their money back and if they don’t the chargebacks sky rocket.
  • Discount Medical Care Programs – Just like the discount health programs if they don’t save the consumer wants their money back.
  • Drug Paraphernalia – Anything that is associated with the drug trade is considered high risk. Offshore merchant accounts are commonly used for this type of business.
  • E Commerce – As the source of the payment is unverifiable at the point of sale, any transaction without the card present has a higher risk of credit card fraud.
  • Ebay Stores – Many people sell items that aren’t as described so chargebacks can be an issue.
  • Electronic cigarettes – much like traditional cigarettes, e-cigarette sales are also deemed high risk.
  • Electronics – This industry has a much higher ticket compared with many other businesses. A chargeback for a $3,000 tv or two and your account can be in jeopardy rather quickly.
  • Escort Services – This is deemed a part of the adult entertainment industry and therefore needs a high risk merchant account and payment solution.
  • Event Ticket Brokers – If a customer buys a ticket and doesn’t use it they feel like they can charge the transaction back.
  • Extended Warranty Companies – Warranties are rarely used so people try to charge back the money that has been spent paying for them.
  • Federal Firearms License Dealers – Any organization associated with guns or firearms is automatically considered in this category.
  • Fantasy Sports Websites – Just like gambling, if a person starts to lose too often they try and charge back the transaction.
  • Finance Brokers – The entire financing industry is risky. By simply extending credit to other individuals, this business is betting that a majority of them will actually pay what they say they will.
  • Financial Advising/Consulting – The high risk tag on financial advisors isn’t about the advisors or their firm. It’s about the clientele and their current circumstances.
  • Financial Loan Modification Services – Due to a clientele in financial struggles, the high risk term is applied to any payments in this industry.
  • Financial Planning – Anything that includes risk for the consumer can have consumer implications with chargebacks.
  • Financial Strategy – Another risk and reward category, if money is lost, consumers try charging back making this a high risk industry.
  • Fortune Tellers – When a person doesn’t hear what they want to hear, or what is told doesn’t happen, the fortune teller can receive huge chargebacks.
  • Furniture Sellers – High risk only when its custom furniture.
  • Gambling – If money is lost the chargebacks rise.
  • Gaming – Chargeback levels skyrocket when consumers don’t win.
  • Get Rich Quick Programs – It’s rather common in this industry for an individual to purchase the training and then chargeback their purchase saying it didn’t deliver on what was promised.
  • Google Stores – With a high rate of return on their items, Google stores are considered high risk.
  • Gun Sales (Firearm Sales) – The gun and projectile industry is automatically associated with high risk credit card processing.
  • High Average Ticket Sales – With any high average ticket, just a couple of chargebacks can mean a massive shift in how risky the account is deemed by the processor.
  • Home/Vacation Rentals – Many issues with chargebacks can take place if the consumer decides not to travel.
  • Horoscopes – Many people believe this is hocum so will chargeback transactions.
  • How To Programs – A common practice in this industry is to purchase the program and charge it back with the description that it didn’t deliver what it promised.
  • Hypnotists – Many merchants will charge back these transactions if results they hoped for were not met.
  • Import/Export Business – Another example of taking goods over country borders which automatically brings in additional risk to any processing account.
  • Indirect Financial Consulting – When using a third party to consult, the high risk status gives the processor fraud protection.
  • International Cargo – Any time you introduce a multi-country element to credit card processing, the ability for fraud to be introduced skyrockets.
  • International Merchants operating in the US – Since the merchant isn’t operating from the United States, there are many unknowns about what is happening on the other side of their business, thus increasing the risk.
  • International Shipping – Transporting goods between countries is risky and introduces all sorts of elements to the financial stability of any transaction.
  • Investment Books – consumers get upset if the investor isn’t right which can lead to chargebacks.
  • Investment Firms – As investments are never a “sure thing” this is considered a risky industry for having a merchant account.
  • Investment Strategy – Anything with future promises can lead to chargeback.
  • Knife Sales – weapons of any kind are automatically given high risk status.
  • Kratom E Commerce – Accepting payments online is high risk, and Kratom is a substance in the health and wellness industry, which is also considered high risk.
  • Life Coaching – With no tangible goods involved in the transaction, life coaching is considered high risk.
  • Lingerie Businesses – Associated with the adult entertainment industry, chargebacks abound.
  • Lotteries – In most states you can buy lottery tickets with a credit card but if you’re allowed to and the ticket is not a winner, consumers try to chargeback the transactions.
  • Magazine Sales – Many magazine sales are recurring subscriptions, which can have issues with chargebacks.
  • Magazine Subscriptions – Same as magazine sales chargebacks can be huge when a recurring subscription happens. (often referred to as recurring billing.)
  • Mail Order Companies – When something is ordered through the mail chargeback risk can go up.
  • Marijuana Dispensaries – As marijuana isn’t a legal substance in every state, this is considered high risk due to the legality of the product. Cannabis credit card processing is available through Shift Processing.
  • Matchmaking Services – Another branch of the dating tree, and often associated with the adult entertainment industry.
  • Medical Devices – If a medical device doesn’t do what’s promised the purchaser may chargeback the transaction.
  • Membership Organizations – This is another instance of where the transactions don’t have any tangible product and are easily charged back to the merchant account.
  • Merchants on the MATCH list – If you are a merchant who has been reported to the MATCH list (Member Alert to Control High Risk Merchants) or the TMF (Terminated Merchant File) you are given high risk status.
  • Merchants with Poor Credit – Merchant accounts are given based on the credit score of the business owner. It’s assumed that the business owner is going to be making the financial decisions for the business, and a poor credit score reflects on the viability of any business transactions.
  • Modeling Agencies – At many agencies models are promised the world and it doesn’t happen. The consumer then wants their money back.
  • Movie Downloads – Transference of a digital product is considered of higher risk. Also, rarely is a physical card present at time of purchase.
  • Multilevel Marketing Sales – Often associated with pyramid schemes, MLM sales are considered a risky business.
  • Music Downloads – Purchasing any digital product is considered to be of higher risk than a physical transaction. Most of the time the card is not present in a digital transaction using a shopping cart.
  • Not A US Citizen Doing Business In The US – It’s possible to get a merchant account without a US social security number, but not having a SSN will increase the risk the processor will have in issuing a merchant account for your business.
  • Online Adult Membership Sites – If you’re running a website that is adult themed and requires payment for access, this is a highly volatile account and definitely high risk.
  • Offshore Corporations (Offshore Merchants) – The international element is what gives the high risk tag when looking for domestic merchant accounts.
  • Online Gambling (Online Gaming) – Without a card being present and gambling as the activity, there are two reasons why this would be on this list. Online payment alone is risky even without the gambling element.
  • Overseas Exporting Services – The introduction of the international element is what gains access to this list.
  • Pawn Shops – There’s a general stigma that goes along with pawn shops, and it’s reflected in their assignment to the high risk processors list.
  • Penny Auction Sites – Even though the customers are usually bidding at only a penny more per bid, users will commonly charge back the transaction when they don’t win.
  • Pepper Spray – Considered a type of weapon, pepper spray vendors are considered risky.
  • Points Programs – Points programs that cost money can cause chargeback issues if points are not used.
  • Pornographic Merchants – If you’re a part of the adult entertainment industry in any way, you’re considered high risk.
  • Precious Metals – Counterfeit metals can be a problem in this industry, making it more risky to accept payments for.
  • Prepaid Calling Cards – Anything prepaid that a consumer may not use increases chargeback issues.
  • Prepaid Debit Cards – When they expire or are lost consumers want their money back.
  • Psychic Services – “Honey, did you visit a psychic? No babe, I don’t remember visiting a psychic.” I’ll just reverse that charge then.
  • Real Estate – A common target for scams and identity theft is how real estate makes this list.
  • Replica Products (Watches, Handbags, Wallets, Sunglasses, Etc…) – As the product being sold isn’t authentic to the original manufacturer, the percentage of requests for refund is much higher than a traditional merchant.
  • Rewards Programs – If rewards are not spent, the consumer wants the money back.
  • Self-Defense – Since the payment provided is for instruction and not a physical product, the self-defense industry makes this list.
  • Self-Hypnosis Services – Yet another instance where the goods being transferred are of a service and not a physical product.
  • SEO Services – With a high rate of request for refund, SEO agencies make this list.
  • Social Networking Sites – Just like a dating site, if a consumer does not get what they want from it, they always like to chargeback.
  • Software Downloads – The software industry makes their way on to this list because of the digital nature of the goods being sold.
  • Sports Forecasting – An example of paying for information and not for a product, and usually not in person where the card would be present for the transaction.
  • Startups – Every startup is considered risky, and the percentage of startups that make it is quite small compared to the number that fail.
  • Student Loans – With the cost of a college education continually on the rise, so is the percentage of loans that default and never receive payment.
  • Strip Clubs – Associated with the adult entertainment industry gains the strip club access to this list.
  • Stun Gun Sales – considered a type of weapon, which makes it a high risk merchant.
  • Supplement Sales – The request for refund in this industry is quite high due to the nature of the product.
  • Sweepstakes – “Hey, I entered a sweepstake and I didn’t win. I’d like my money back please.”
  • Talent Agencies – “I paid thousands of dollars for headshots and glamorous outfits and I haven’t gotten any paid gigs. Pay me back my money please.”
  • Telemarketing Services – Telemarketing services many times do not have the results the purchaser would like to see, so the services are charged back.
  • Telephone Order Sales – Anything ordered over the phone has a increased risk of chargeback.
  • Timeshare Companies – When timeshares aren’t used, people want their money back.
  • Travel Agencies – If trips are not taken, consumers would like their funds returned.
  • Travel Clubs – Many travel club discounts aren’t what they were promised, increasing risk for chargebacks.
  • Vacation Rental Brokers – Third party brokers on prepaid vacation can have issues when customers cancel their trips.
  • Vape Shops – The level of criminal activity and theft is higher with vape shop merchants and therefore carries a high risk label.
  • Vitamin Sales – If the vitamins don’t provide the results the merchant would like to see they chargeback the transactions.
  • Web Designer – Because this service is prone to chargebacks, it has been classified as high risk.
  • Weight Loss – Considered risky because the results aren’t really up to the company, but rather the individual has to stick to the plan to get results, often resulting in chargebacks.
  • Yahoo Stores – Since the goods sold through Yahoo can easily be returned, they are considered a risky merchant.

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