Financial technology leader Worldpay from FIS is extending its partnership with dispute technology provider, Chargebacks911, by launching an enhanced range of Disputes Deflector products. These products will provide merchants with a broader range of solutions to help reduce chargebacks, lower costs and combat fraud.
Chargebacks continue to be a big issue for merchants, with a recent survey finding 65% of merchants had reported an increase in chargeback fraud in 2022. FIS is proactively trying to ease the chargeback burden on merchants by launching an enhanced range of Disputes Deflector products.
Disputes Deflector is a set of five chargeback and dispute avoidance products accessible through one single integration. Worldpay’s flexible architecture connects merchants to best-in-class service providers, and through an open platform, they will be able to leverage consolidated post-transaction fraud management tools that are integration-friendly and supported by multiple APIs. This will allow merchants to access the best-in-class solutions that dramatically streamline chargeback and dispute inquiry management, while simultaneously gaining access to the next-generation of payment capabilities and technology which responds to the growth of eCommerce.
“Changes in consumer preferences and merchant practices have retailers, card issuers and networks moving away from the manual dispute management processes,” said Vicky Bindra, Chief Product Officer at FIS. “Open platforms and flexible architecture are now vital, allowing automated products that reduce the time and effort invested in managing and resolving dispute volume. We are delighted to further expand our partnership with Chargebacks911 to provide merchants with a comprehensive and innovative product that will help them fight costly chargebacks.”
As a global leader in chargeback management, responsible for over 2.4 billion online transactions every year and representing clients in 87 different countries, Chargebacks911 is the ideal candidate for furthering this work.
“We've been very impressed by Worldpay identifying merchants' need for automation in managing the increasing complexity of disputes,” said Monica Eaton-Cardone, COO and Co-Founder of Chargebacks911. “This consolidated approach will deliver much needed scale and efficiency as the world becomes more digital. And as the card brands continue to expand their offerings the task of managing disputes at all stages requires aggregation and expertise, best leveraged through a unified platform.”