Chargebacks911, a subsidiary of Dublin-based Global Risk Technologies, has partnered with payment solutions provider ACI Worldwide to help merchants to fight illegitimate chargebacks.
As per the agreement, Chargebacks911 and ACI Worldwide will boost stability and growth of traditional, more secure consumer payment methods across Europe and the US.
Further, they will offer ACI Worldwide merchants and their consumers with a sensible, accountable, and standardised solution that can halt the rising tide of card-not-present chargebacks.
The frequency of chargeback issuances is growing at an alarming rate of 20% per year, compared to transaction growth of just 7% in the same time period, according to JP Morgan Chase.
Global Risk Technologies CIO Monica Eaton-Cardone said: “We’re extremely pleased to team up with ACI and bring our unrivalled chargeback solutions to its merchants.
“Merchants worldwide want a tactical approach to revenue recovery, one that achieves sustainable growth. We’re honoured the company has recognised our strength in this area, and we look forward to helping these merchants better manage their chargeback issues.”
ACI Worldwide director of fraud product management Jackie Barwell said: “Merchants today are aiming to be more proactive with chargeback management, no longer accepting chargebacks, but successfully fighting them to protect their bottom line. We’re pleased to expand our merchant offering through this collaboration with a leader in chargeback mitigation.”