TAMPA BAY, Fla.--(BUSINESS WIRE)--Chargebacks911, the leading dispute technology specialist that powers chargeback remediation for the largest global eCommerce businesses, as well as the world's financial institutions, has achieved the milestone of 1,000 integrated data connections and ingestible file types through its innovative, and highly automated plug-in-and-play platform.
For over a decade, Chargebacks911 has been focused on tackling the chargeback problem with innovative technology specifically developed to help merchants identify and resolve instances of post transaction fraud, such as first party fraud. Also known as ‘Friendly Fraud’, it refers to an illegitimate chargeback filed on a legitimate transaction, costing the eCommerce industry vast sums of money each year, and reducing a merchant’s profits by as much as 25%. Chargebacks911 was the first technology platform provider dedicated to chargeback management solutions, and its connections to merchant data sources span far and wide.
Additionally, In its last Chargeback Field Report, Chargebacks911 emphasized how businesses across many sectors have dealt with an uptick in fraudulent chargeback claims over the last couple of years, and how they can best protect themselves with dedicated solutions that can cut costs and safeguard revenues.
Chargebacks911 already serves over 30 industry verticals spanning across 87 countries, with locations in the US, Europe and Asia. Now it supports over 1,000 merchant data sources that reach across multiple channels, with segments existing in CRMs, Order Management Systems, Shipping and Fulfillment applications, customer service solutions, gateways, fraud filters, financial institutions and payment facilitators, and more.
Alongside integrations with card brands and alternative payment methods, Chargebacks911’s automated platform provides a scalable method for merchants to exchange the missing information that banks require to identify invalid chargeback claims and thwart the growth of this negative trend.
Monica Eaton-Cardone, Founder of Chargebacks911, says: “One of the main reasons why first party fraud is growing is because there are not enough insights and intelligence provided to decision makers during the chargeback process - this feedback is crucial. Banks are forced to make decisions without enough information, and merchants don’t have the time, connections, or expertise in-house to defend themselves when this type of fraud occurs.”
Sandeep Menon, Chief Technology Officer at Chargebacks911, adds: “It’s amazing what you can accomplish when you set a goal and remain focused. With the growth in eCommerce and omni-channels, keeping pace with the evolution of merchant data sources requires a dynamic approach and out-of-the-box thinking. Today’s merchant faces new challenges, requires consolidation options, and demands an agile framework that alleviates technical resources and constraints. To achieve this requires immense domain expertise and unparalleled innovation - I’m very proud of our team and it’s great to highlight this back-end achievement, which isn’t often acknowledged.”
This success underscores Chargebacks911’s worldwide market advantage as the leading dispute technology platform*, and comes hot on the heels of the recent 3x boost to its automated dispute response platform. Chargebacks911 has revolutionized the data collection process, transforming the concept of end-to-end automation by digitizing even the most complex and unstructured formats to maximize data insights and leverage rule-based data driven automation.
To learn more about Chargebacks911, visit: https://chargebacks911.com/
*Chargeback Market Study Report 2020, Edgar, Dunn & Company
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About Chargebacks911
Founded in 2011, Chargebacks911 is the first global company fully dedicated to mitigating chargeback risk and eliminating chargeback fraud. As industry-leading innovators, Chargebacks911 is credited with developing the most effective strategies for helping businesses manage disputes and reduce loss in various industries and sectors within the payments space.
Chargebacks911 provides comprehensive SaaS solutions that are highly scalable for managing chargebacks, handling services and fraud strategy management. The company helps decrease the negative impact of chargebacks and provides real-time API connectivity and insights, thereby improving revenue retention using data-driven technology to help ensure sustainable growth for every member of the payment channel.
Chargebacks911’s unparalleled category experience and patented Intelligence Source Detection (ISD™) technology identifies the true source of chargebacks, automatically remediates fraudulently filed disputes, safeguards reputations, monitors feedback 24/7 and provides insight to proactively prevent future fraud. www.chargebacks911.com
About Fi911
Fi911 supports financial institutions with innovative back-office automation technologies created specifically for banking and financial institutions. By supporting direct communications between FIs and their ecosystems, the company’s scalable payment product suite offers features that range from fast, flexible merchant onboarding to highly transparent and feature-rich client portals.
Fi911’s proprietary DisputeLab™ helps resolve chargeback disputes faster and more efficiently by utilizing next-generation technology that leverages a robust rule engine and highly scalable microservices specifically designed to optimize each step in the dispute cycle. The company’s unified platform also provides threat detection, reconciliation, risk management tools, and the ability to generate commissions and ISO pay-outs directly through the system.
Established by the dispute experts at Chargebacks911®, Fi911 offers global reach and expertise, and customized training and support from recognized industry leaders. https://fi911.com/
