The partnership allows both parties to share information and their purchase details database and ecosystems to better create customer experiences by reducing the likelihood of chargebacks.
As the world economy is seeing a surge in digital payments, the total amount of chargebacks is estimated at USD 35 billion globally, in 2021 alone. With most customers wanting to know additional information about their digital banking applications and payments, the partnership between the two companies can help minimise confusion and educate the public regarding friendly frauds.
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