The new partnership will see Radial integrate Chargebacks911s proprietary technology into its commerce software to help detect, manage, and fight fraudulent chargebacks, including the rising threat of friendly fraud.
Founded in 2011, Chargebacks911 is the first global company fully dedicated to mitigating chargeback risk and eliminating chargeback fraud. A chargeback is a transaction reversal that serves as a form of consumer protection from fraudulent activity committed by both merchants and individuals. However, customer and fraudster behaviours have evolved quickly in the ecommerce era, causing merchants to lose more than USD 80 billion each year to chargebacks, according to Business Insider.
Along with short-term revenue loss, longer-term ramifications include: strained relations with influential industry members; damaged reputations that prevent future sales; an inability to generate sustainable growth; increased processing fees; and the loss of payment processing abilities.
Chargebacks911, known as The Chargeback Company in Europe, safeguards over 2.4 billion online transactions every year, representing clients in 87 different countries.
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