Leading global chargeback management and dispute resolution company will continue to help the payment industry avoid chargeback fraud and minimise associated losses
The company will still be known as Chargebacks911 in North America, Australia and elsewhere outside of Europe.
“Our presence in Europe is rapidly expanding, and we want European merchants to understand that we’re their go-to solution for any issue related to chargebacks,” said Monica Eaton-Cardone, the co-founder and Chief Operating Officer of Chargebacks911/The Chargeback Company.
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“The name Chargebacks911 originated because we served as an ‘emergency hotline’ for American businesses who were victimised by chargeback fraud (also referred to as ‘friendly fraud’). 911 is the equivalent of the UK’s 999 or Europe’s 112 – it’s how you reach first responders. But now we’re much more than just a hotline: We offer a full range of chargeback services for merchants, acquirers and issuers. Whether it’s temporary help or long-term strategy, we deliver both scale and scope.”
“In short, we outgrew our name,” Eaton-Cardone continued. “We now have a European-focused brand that reflects our all-encompassing role as the industry’s preeminent leaders in chargeback defence, management, mitigation and compliance. If you have a problem with chargebacks, call The Chargeback Company. It’s what we do, and we’re here to help.”
Chargebacks occur when cardholders complain to their banks to dispute a charge. The burden-of-proof is then on the seller to defend the legitimacy of the sale, which is a difficult threshold for Internet purchases, card-not-present transactions and shipped merchandise. Online merchants lose more than £80 billion annually to chargebacks and chargeback-related expenses, and the problem is growing by 20 percent each year.
“Chargeback fraud is basically a ‘hidden tax’ on the industry,” said Eaton-Cardone. “It’s an extraordinarily serious problem that requires an equally serious solution.”
The Chargeback Company is the first company fully dedicated to mitigating chargeback risk and eliminating chargeback fraud. Last year, Chargebacks911/The Chargeback Company safeguarded over 2.4 billion online transactions for clients in 87 countries.