We’re Celebrating 10 Years of Payments & Fintech Innovation!

We’re Celebrating 10 Years of Payments & Fintech Innovation!

August 2021 Marks the 10th Anniversary of Chargebacks911®

Today, we at Chargebacks911 are proud to call ourselves the industry’s leading name in end-to-end chargeback management. Our family of fintech professionals includes more than 400 members across North America, Europe, and Asia. Together, we serve some 45,000 active merchants in 87 countries across 27 verticals and have recovered more than $1 billion in revenue for our customers.

Of course, it wasn’t always like this.

From Humble Origins…

The eCommerce space was a very different environment in 2011. At that time, our co-founders Monica Eaton-Cardone and Gary Cardone were successful eCommerce merchants. However, one problem threatened to destroy their business: chargebacks.

“We were getting hit with a tidal wave of chargebacks,” Monica explains, recalling her experiences. “We scoured the internet, talking to banks, card networks, and service providers looking for a solution. However, nothing was forthcoming. I realized that, if we wanted to save our business, we would have to tackle this problem ourselves. It was shortly after that when I realized that this was a problem lots of merchants were facing and that there was a real opportunity there for anyone who could solve this problem for merchants.”

Monica and Gary took their first-hand expertise and used it to launch Chargebacks911 as a small consulting operation. The business grew rapidly, though, quickly expanding beyond the scope of a simple side gig.

…to Industry-Defining Innovation

Chargebacks911 became the first company to offer end-to-end chargeback management. “I remember, when I was dealing with my own chargebacks, just wishing that I could call ‘911’ and have someone make the problem go away,” Monica recalls. “So, that’s what I set out to create.”

Chargebacks911 introduced Intelligent Source Detection™, a proprietary combination of machine learning and human expertise. This technology allowed unparalleled insight into chargeback sources, looking for the “reason behind the reason code” and exposing friendly fraud that would otherwise go unidentified. Other innovations introduced by Chargebacks911 in the last decade include:

  • The industry’s broadest and most comprehensive alerts network to intercept and prevent more chargebacks.
  • Affiliate Fraud Shield, the industry’s only dynamic solution to detect and eliminate affiliate marketing abuse.
  • Tactical representment, allowing merchants to recover more revenue retrain consumer behavior.
  • A 106-point inspection designed to identify and prevent chargebacks resulting from minor errors and policy missteps.
  • Fi911, a first-of-its-kind solution to help financial institutions streamline chargeback management operations.

…just to name a few. Plus, Chargebacks911 offered the industry’s first 100% ROI guarantee, meaning our customers always recover revenue.

Looking to the Future

We’ve accomplished a lot in ten years…but we’re just getting started.

The fintech space is one of the most dynamic, fast-moving industries on Earth. Add to that the rapid adoption of digital payments in the last few years, and it’s clear that the next decade will be a turbulent time for merchants and financial institutions. We at Chargebacks911 will be there at every twist in the adventure, ready to respond to the needs of the payments industry.

“We’ll continue to innovate and expand our technology and solutions,” says Chargebacks911 CEO Gary Cardone. “We’re committed to supporting the growing, multi-acquired, multi-currency and multi-lingual merchants and FIs who are raring to take advantage of the expanding global opportunities.”

Monica has a similarly optimistic outlook for the second decade of Chargebacks911, predicting bigger changes than ever are still to come. “We are dealing with a structural and permanent shift in merchant-led technology and consumer behavior,” she says. To reduce the billions that will be lost to invalid payment disputes, we must continue our push for industry-wide chargeback management systems, updated dispute rules based on modern (and future) commerce, and adequate support for both merchants and financial institutions.”

To every member of the Chargebacks911 team: thanks, and here’s to another decade of unparalleled success!