ATPS Worldwide Honors Chargebacks911® at 10th Annual Event
Since the company’s creation back in 2011, it’s been Chargebacks911’s mission to deliver the card-not-present environment’s most dynamic, innovative and easily-adaptable solutions for chargebacks and friendly fraud.
Our success is built upon seeking out new, untapped answers to developing problems, all with the goal of delivering the best results to promote merchant sustainability.
It’s always an honor to see our commitment to providing quality, effective solutions recognized. As such, we are pleased to announce Chargebacks911® was the latest recipient of the ‘Best Industry Solution’ award at the 10th Annual Airline & Travel Payments Summit in Barcelona.
The A.I. Lions’ Den
Chargebacks911’s recognition was earned through the Lions’ Den competition. Similar to popular formats like the international Dragon’s Den or the US’s Shark Tank, participants competed in a head-to-head competition to prove the viability of their proprietary solutions.
Chargebacks911’s COO, Monica Eaton, boldly stepped into the Lions’ Den, competing against representatives from Cybersouce, Ypsilon – IATA Fraud Manager, Riskified and HSBC.
The ‘lions’ (judges) included Dave Holmes, SVP sales at UATP, Salvador Rodriguez, collections engineer at LogiTravel Group, and Omer Sirka, corporate account manager at Turkish Airlines. Lions were guided by ‘ringmaster’ (moderator) Michael Smith, managing partner at Airline Information.
Participants were given just five minutes to demonstrate the value of their solutions and the results it has generated. Then, the lions grilled the participants for another five minutes, to challenge the relevance of their claims.
At the conclusion of the presentations, the ringmaster asked the lions the following question: If you were to invest your own company’s money, which participant do you think would bring the most revenue or cost saving benefits.
Chargebacks911 was one of the leading choices and overall winner of the Best Industry Solution award.
So proud @Chargebacks911 won in the Lion's Den at #ATPS @GaryCardone911 pic.twitter.com/tOxXQG2qxB
— Monica Eaton (@Monica_Eaton) April 26, 2016
Comprehensive Chargeback Management
At Chargebacks911®, we care passionately about helping merchants minimize risk and optimize profitability, and we are honored to see our fellow industry members recognize our efforts. It’s our mission to change the way in which merchants, banks and service providers understand fraud, and our willingness to challenge conventional thinking is what sets us apart.
Other service providers rely on static, one-size-fits-all automations that lack dynamic scalability and rely extensively on the merchant’s expertise. At Chargebacks911, we offer three diagnostic service options that not only automate processes, but do so in a way that compliments existing skillsets – whether fully managed, self-service, or on-demand.
Our solution is built for scale and scope; it’s a combination of machine learning, proprietary technology, and human intelligence. Science has proven that when it comes to managing fraud, a layered approach is best. Blackbox automation without human oversight, or without the right expertise, can be error-prone and ineffective. These drawbacks can negatively impact the merchant’s reputation and increase costs and liabilities under the guise of low win rates and ambiguous chargebacks.
Chargebacks911® is the only service provider to incorporate this layered approach with our proprietary technology, enabling us to effectively identify and prevent friendly fraud, the fastest-growing threat to the payments industry.
What Sets Us Apart From the Competition?
The Chargebacks911® solution is three-part. We identify the source of chargebacks, we prevent transaction disputes, and we challenge friendly fraud.
1. Identify
Traditionally, the management of chargebacks is dependent on the analysis of reason codes. However, the boom in ecommerce sales, which has facilitated a rise in friendly fraud, makes reason code intelligence less effective.
There are only three sources of chargebacks and the distribution of resultant chargebacks surprises many merchants.
- Criminal fraud results in just 1-10% of chargebacks
- Merchant error causes a surprising 20-40% of chargebacks
- Friendly fraud leads to a whopping 60-80% of chargebacks
Thanks to our award-winning Intelligent Source Detection™, merchants no longer need to rely on misleading reason codes. Our proprietary techniques determine the real reason for the chargeback, expose friendly fraud, and enable more effective prevention and representment strategies.
2. Prevent
Using our solution, merchants can look beyond reason codes to find the true cause of chargebacks. It’s possible to not just identify chargeback sources, but actually prevent transaction disputes from happening.
- Chargebacks911 helps merchants optimize and refine their fraud filter rules. Our efforts help merchants identify and prevent fraudulent transactions while simultaneously keeping the rate of false positives low.
- Our Chargeback Alerts give merchants the opportunity to refund a transaction dispute before it progresses to a chargeback. This helps keep chargeback rates low and ensure payment processing capabilities.
- Since a significant portion of chargebacks result from unintentional merchant error, it is essential to review policies and procedures to identify any possible chargeback triggers. Our Merchant Compliance Review inspects 106 business elements to expose and rectify mistakes, errors, and oversights that can lead to chargebacks.
- Affiliate Fraud Shield detect and prevent advertising fraud, ensuring profitable campaigns with minimum risk.
3. Challenge
Challenging illegitimate chargebacks is the last element of successful chargeback management.
Other services challenge chargebacks using static methods, which are prone to errors and can lead to bigger problems over time. Our dynamic approach enables us to create effective, compliant cases that yield long-term results.
Our Tactical Chargeback Representment allows merchants to:
- Improve their merchant-issuer relationship
- Prevent future chargebacks
- Retain more revenue
- Protect their processing privileges
- Focus less on fraud and more on growing their business
- Identify and retain good customers
- Correct harmful customer habits
Award-Winning, Innovative Solutions
Merchants in need of an effective, straightforward chargeback solution need look no further. Chargebacks911® offers the industry’s most innovative products for chargeback management, all backed by a 100% guaranteed ROI.
Contact us today to see what our award-winning services can do to help you prevent chargebacks, retain revenue and grow your business.
