Chargebacks911 provides a centralised system for aggregating chargebacks and dispute related data, to automate transmission files across multiple providers. The company offers a fully agnostic, single integration point.
Cellpoint Digital’s officials stated that the partner’s chargeback solutions and their payment orchestration platform will make a combination for mid-market and enterprise clients across verticals, especially considering the growth of ecommerce and cross-border transactions, and the anticipated related growth in chargebacks.
For every USD 100 charged back, a merchant experiences USD 240 in expenses. Costs include card transaction fees, chargeback fees, operational costs, and brand damage. This makes chargebacks a costly pain point for merchants. In 2021 alone, chargebacks cost merchants USD 125 billion in lost revenue, according to the press release.
The announcement follows the release of The 2021 Chargeback Field Report. It found that a majority of merchants reported an increase in criminal fraud between 2018 and 2021. The average reported increase was 21%. It also found merchants cited a lower chargeback rate and increased revenue as the top benefits of working with a third-party to manage their chargeback responses.
For more information about CellPoint Digital, please check out the company profile in The Paypers Company Database.
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