The rise of digital payments has led to higher risks for merchants and their providers, driving up fraud, disputes, and false declines. Raja-Roy Choudhury, Bart Szypkowski, and Vinay Shiriwastaw of DisputeHelp share more.
During our conversation with the DisputeHelp team at Money 20/20 in Amsterdam, Bart explained that as digital payments grow, so do fraud and disputes.
According to Ethoca, global chargeback volumes are forecast to reach 337 million by 2026 – a 42% increase from 2023. This increase costs businesses unnecessary time, resources, and revenue. It damages customer experiences and often jeopardises businesses.
Against this backdrop, Vinay noted that the merchant acquiring and services industries have become increasingly competitive. There's been a rise in tech-savvy disruptors and significant mergers and acquisitions. This shift, along with the fragmentation of the merchant-facing payments value chain, is dramatically affecting the economics and business models of merchant acquisition and services. This is forcing them to innovate and modernise their value-added services such as dispute management.
Raja highlighted that merchants are increasingly turning to third-party dispute prevention tools, which means providers are losing out on revenue traditionally collected through the dispute process. By offering these services themselves, providers can prevent revenue disintermediation, maintain their brand position amidst growing competition, and protect merchants from first-party fraud and disputes.
To learn more about this topic, we invite you to watch the insightful conversation Raja, Bart, and Vinay had with us. Feel free to share your feedback.
About Raja-Roy Choudry
With the rise in ecommerce fraud, Raja discovered an opportunity. Merchants spent a lot of time and money away from their core business managing fraud and chargebacks. Many were losing their processing entirely from too many chargebacks. So in 2014, he founded ChargebackHelp to help merchants fight back against fraud and chargebacks. This venture has since grown with offices in the US and Europe, with clients ranging from small, high-risk businesses to enterprise-level firms with large merchant portfolios.
About Szypkowski
Bart possesses 12+ years of experience in the payments and chargebacks industries – with leadership roles at Mastercard, Ethoca, and Visa. In his current position as Chief Revenue Officer at ChargebackHelp, his focus is helping merchants, acquirers, MSPs, and more leverage the latest technologies to tackle their unique challenges and guide their strategies to successfully mitigate increasing dispute, chargeback, and friendly fraud threats.
About Vinay Shiriwastaw
Vinay possesses 25+ of experience in the payments, technology, and financial institution industries – with leadership roles at J.P Morgan, Rapyd, First Data, and Bank of America. In his current position as Chief Commercial Officer at ChargebackHelp, his focus is helping merchants, acquirers, MSPs, and more leverage the latest technologies to tackle their unique challenges and guide their strategies to successfully mitigate increasing dispute, chargeback, and friendly fraud threats.
About DisputeHelp
DisputeHelp (powered by ChargebackHelp) provides merchant acquirers and merchant service providers with all of the industry's leading dispute management solutions from a single white-label platform. This enables them to quickly launch value-added services that help them differentiate from the competition, protect their merchant portfolios from risk, and create new revenue streams.
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