Payment technology provider CellPoint Digital has chosen Chargebacks911 as its exclusive partner to deliver chargeback management solutions to merchants.
Using the Chargebacks911 solutions, traders can deal with post-payments fraud.
The company’s centralised platform can collect data linked to chargebacks and disputes as well as automate transmission files across various stakeholders.
The Chargebacks911 tools are developed to provide a single integration point to their users, the company stated.
CellPoint Digital CEO Kristian Gjerding said: “We’re incredibly excited to start working with Chargebacks911.
“Its global footprint and breakthrough technology makes it the natural choice to be our exclusive partner in providing merchants with chargeback management solutions.
“It’s chargeback solutions and our payment orchestration platform will make a powerful combination for mid-market and enterprise clients across verticals, especially considering the explosive growth of eCommerce and cross-border transactions, and the anticipated related growth in chargebacks.”
A trader has to bear $240 in extra costs for every payment valued at $100 that could lead to a chargeback, Chargebacks911 said.
The costs involve various fees arising out of card transaction, chargeback as well as operational charges and brand damage.
Last year, merchants reportedly lost $125bn in revenue as a result of chargebacks.
Chargebacks911 further noted that rise in digital payments because of flourishing e-commerce and improved fraud regulations could complicate the issue of chargebacks for future businesses.
Chargebacks911 CCO Eric Deraspe said: “Merchants using multiple processors need a centralised system for consolidating chargeback data, and this capability is part of the core functionality we provide to merchants.
“We feel that CellPoint Digital’s position as the global leader in payments orchestration and our global merchant footprint and mutual commitment to innovation makes this a perfect partnership to make a real difference for merchants and how they prevent and manage chargebacks.”
In April this year, Chargebacks911 announced an alliance with payments provider Nexio to provide comprehensive chargeback dispute management solutions.