1. Why there is a need for innovation in the industry in which The Chargeback Company is operating?
The eCommerce revolution has exploded worldwide, and every single day, online merchants are selling billions of products to people all over the world. Unfortunately, the triumph of the digital economy has also given rise to chargeback abuse, cyber-theft and chargeback fraud — the $300 billion scourge of electronic transactions. It’s one of the costliest (and fastest growing) problems in eCommerce. The industry was pleading for an innovative, reliable, scalable solution.
The Chargeback Company (known as Chargebacks911 in the states) was founded out of necessity to help merchants resolve disputes, recover revenue from wrongfully filed chargebacks, and proactively protect their profits from fraudsters and cyberthieves.
Managing 200+ million online transactions every month, The Chargeback Company has helped its clients recover more than $1 billion in disputed revenue. Combining “Human Diagnostic” detective work with advanced analytics, powerful proprietary software, automated fraud-alerts, shields, and more, The Chargeback Company offers merchants a reliable, scalable solution to the $300 billion (and growing) chargeback epidemic.
2.What are the innovative solutions/services/products of The Chargeback Company? How they are benefiting the clients?
The Chargeback Company’s industry-altering innovations include pre-emptive alerts, automated source detection and revenue recovery, itemized SOPs for each “link” in the eCommerce transactional chain, and proprietary (custom-designed) software armed with advanced analytics and corresponding algorithms. These innovations have all made the electronic payments industry far safer than it would otherwise be — and the case studies have certainly proved it.
Distinctions and accomplishments include:
– Managing over 200 million transactions every month
– Over 1 million chargebacks have been successfully fought
– Up to 91 percent of chargeback fraud recovered in 45 days or less
– Over 85 percent of clients experienced an ROI above 150 percent
– Empowered over $1 billion in revenue-recovery for our clients
– Over 100K pageviews every month
– Winner of 3 consecutive CNP Customer Choice Awards for Best Chargeback Management System
3. When was The Chargeback Company established? What are its core values, mission, and vision?
The Chargeback Company (originally named Chargebacks911, and still known by that name in North America) was founded in 2011 by online merchants who had been victimized by chargeback fraud. Its key objective, then and now, is to help other online merchants eliminate chargebacks, prevail in transactional disputes, avoid fraudsters and cyber-shoplifters, and safeguard the “eCommerce Experience” for everyone.
4. What challenges The Chargeback Company is currently facing? How The Chargeback Company is overcoming them?
The cyberthieves never quit. They’re always searching for new vulnerabilities. The cyberfraud threat-matrix isn’t fixed; it’s aggressively evolving, all the time. Obsolete security systems are being utterly decimated by a new generation of smart, sophisticated fraudsters. Cybersecurity is the ultimate game of cat-and-mouse — but for too many merchants, the mice are winning: Merchants are squandering billions annually on chargeback fraud, and the problem is still growing.
The Chargeback Company isn’t just prepared for the cyberthreats of today — we’re also ready for the cyberthreats of tomorrow – including the new breeds of fraud. We are one of th only companies that specializes in identifying and resolving Friendly Fraud – a statistic that has grown by 41% over the last 3 years.
Supporting 27 different merchant verticals, serving clients all over the globe, has armed us with first hand insight and experience. We’ve studied the trendlines. We know the data. We understand the new regulations.
The cyberthieves aren’t resting and neither are we.
5. Describe your roles & responsibilities as the CEO/Founder of the company. What strategies or technologies you are implementing to improve The Chargeback Company?
I’m a hands-on executive, but thankfully, I’m blessed to have a VERY talented, savvy team of incredible, truly amazing employees who are just as passionate about helping merchants as I am. Working together, we provide as much support to our clients as possible. This is a key tenant of our culture. The specific day-to-day ins and outs are more complicated than that, of course; we have hundreds of employees throughout Europe, North America and Asia, and we all have different responsibilities. Basically, I’m here to help everyone on my team — however I can, wherever I can — by setting very high standards, rolling up my sleeves, and leading by example. I am probably most involved with our innovation teams – my passion for solving problems has an insatiable appetite.
For technological strategies, we use our own proprietary software, which is based on a treasure trove of private, (mostly) unpublished data gleaned from successfully fighting over one million chargebacks since 2011. This experience — and this technology — gives us a huge competitive advantage over our competition: They rely on short-term theories; we rely on hard, empirical evidence and first hand experience.
6. What are the short and long term plans for The Chargeback Company? And in less than 30 words, describe the secret of The Chargeback Company’s success.
Yesterday, today and tomorrow, our #1 goal is to help our clients as much as possible. The Chargeback Company has always, since our very inception, been 100 percent dedicated to serving our clients — and truly, that’s been the big secret to our success: We’ve studied longer. We’ve learned more. We work harder. It’s never about us; it’s always about our clients.
