Chargebacks911® COO Provides Insight into Company’s Background and Strategy
As one of the payments industry’s foremost experts on chargebacks and eCommerce fraud, Monica has served as a highly-valued guest expert across a range of different media outlets.
Most recently, Monica sat in with Doug Parker on June 22, 2016 for one of the latest episodes of Ambitious Radio, a podcast dedicated to the celebration of business leadership and innovation. Over the course of the 50-minute show, Monica and Doug talked about everything from chargebacks to STEM education and entrepreneurship.
The Creation of Chargebacks911
In 2009, Monica already possessed more than a decade of experience as an entrepreneur. However, after deciding to move into online sales, she realized that the eCommerce environment comes with its own unique challenges.
Her business started to rapidly lose money as a result of fraudulent chargeback scams, and after looking high and low for a solution, she found no effective answers. That’s when Monica decided to take matters into her own hands.
I founded Chargebacks911 several years ago and it’s a funny story—you know, it’s one of those classic stories of business. I was an online merchant, and I developed this solution to solve my own problems. Little did I know that there were thousands of merchants out there that were suffering from the same issues, and they needed a solution as well.”
However, once Monica developed a solution for her own chargeback challenges, it wasn’t long before other players started to take notice. Banks and merchant processors began asking Monica to offer her services to their merchant clients. As Monica explains:
I put together this company, and the name, Chargebacks911, was actually a little bit of a joke originally. I thought that, as a merchant, what I wanted was to dial ‘911’ and be rescued from chargebacks.”
“So I put together this website, and thought, ‘you know, this is just going to be a little consulting deal on the side, I’m gonna focus on my online merchant business…but I just got overwhelming responses.
“Probably a month after the site was up I was contacted by The Wall Street Journal, New York Times…and the rest is history! Needless to say, I’m totally focused on that direction now. I’m very passionate about all sorts of payments industry and financial technologies.”
Innovative eCommerce Solutions
Monica suggests that Chargebacks911 services work much like an attorney representing a client before a judge. We take the chargeback, compile the evidence and present the case before the issuer, allowing a fair judgement of the case according to card network rules and regulations.
We correct the situation, and the nice thing about Visa, MasterCard, American Express, and Discover, is that these are card networks. They have a whole operating rule set of guidelines and regulations, and just like if you’re an attorney, you operate with laws and compliance standards. We take those rules, regulations, and compliance standards, we defend the merchant and we actually get their money back.”
Listen to the complete podcast here.
For more specific information about how Chargebacks911 can help your business recover revenue and ensure long-term sustainability, contact us today.