Credit card disputes at Visa Inc. continued rising past their pandemic boom despite the proliferation of prevention software, as fraud grows alongside e-commerce and inflation.
Disputes on Visa’s network rose to more than 90 million in 2022, data provided by the payment company showed. More than 70 million disputes were filed in 2019, Visa said in a presentation, before rising 24% in 2020 during the pandemic and about 2% a year in 2021 and 2022.
Disputes can be costly and onerous for both credit card companies and merchants to process, while chargebacks, when a dispute results in a refund, cost merchants dearly — about $2.40 for every dollar disputed, according to Visa’s Verifi, or as high as $3.36 for every dollar, according to Mastercard’s Ethoca.
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