Mitigating effectively chargeback risk
WHO are you?
My name is Monica Eaton-Cardone and I am the Co-Founder and COO of Chargebacks911.
WHAT did you do?
I developed an extensive chargeback management solution in order to save my online business. When I realized how starved the industry was for someone who understood the chargeback process, I decided to offer my services as a consulting business for fellow merchants. It soon reached the point where advice was no longer sufficient and it was clear that merchants needed an expert to actively manage their cases, and so Chargebacks911 was born.
HOW did you do it?
It was actually during my time as an online merchant when I first encountered the problem of payment chargebacks. My business was being hit with countless illegitimate disputes and I had no way of resolving them or recovering lost revenue. I realized that if I wanted to save my business, I would need to do the research myself and find a way to solve the problem. I became a self-taught expert in how to effectively mitigate chargeback risk, and it was only then that I saw how much this expertise was needed by other merchants struggling with chargebacks.
WHEN did you start your company?
Chargebacks911 was established in 2011.
WHY are you innovating with this product or service?
We are the first company to identify the need for chargeback management for financial institutions, and in response to this need, we launched our new brand under Chargebacks911, called Fi911. Fi911 empowers financial institutions with APIs and quick launch components to help deliver speed-to-market capabilities for managing chargebacks and related activities. In addition to Fi911’s AI-driven platform, we also offer merchant onboarding, post-transaction monitoring, lifecycle management, and reconciliation services.
We also developed Intelligent Source Detection technology. We identified that chargeback reason codes were not a reliable indicator of chargeback sources, so we created ISD, which uses a combination of machine learning and human forensic expertise to drill down and identify chargeback sources.
WHERE are you from?
USA. I currently live in the Tampa Bay area, FL.