Merchants’ chargeback-related expenses increased in 2016 and are expected to double in 2017, indicating the need for services designed to mitigate these charges.
Third party fraud and back end ‘friendly’ fraud have been identified as two of the biggest risk areas. This week a leading innovator of solutions for fraud and risk management, Kount Inc, and risk mitigation leader, Chargebacks 911, announced an integrated service to counter both risks.
The integration of their products Kount Complete™ and Chargebacks911® will enable their joint merchant customers to safely boost revenue and sales while eliminating the impact of fraud and chargebacks, they predict.
“Kount’s new partnership with Chargebacks911 gives merchants access to two industry leaders that are offering solutions for the rapidly growing chargeback problem,” said Rich Stuppy, COO, Kount. “Together these solutions will provide a powerful ROI for merchants while providing them the data and confidence needed to aggressively grow their businesses while reducing fraud.
“We’re excited to be partnering with Kount to provide industry-leading fraud and chargeback prevention solutions,” said Monica Eaton-Cardone, COO at Chargebacks911. “Illegitimate chargebacks are increasing at an alarming rate every year and the burden of mitigation unnecessarily falls on merchants. Chargebacks911’s in-depth card scheme expertise and understanding of merchant processes combined with Kount’s best-of-class fraud prevention technology ease this burden off of financial institutions and merchants while ensuring and supporting business profitability.”