Risk management companies Kount and Chargebacks911 have integrated two of their products, Kount Complete™ and Chargebacks911®.
The integration is designed to provide a solution for both third-party fraud prevention and back-end friendly fraud, helping Kount and Chargebacks911’s joint merchant customers safely boost revenue and sales while eliminating the damaging, costly impact of fraud and chargebacks.
Merchants’ chargeback-related expenses increased in 2016 and are expected to double in 2017, demonstrating the need for services tailored to mitigating these charges. Chargebacks have increased due to fraud attempts moving to online purchases after introduction of the chip card for POS devices, making it harder to conduct fraud in the physical retail environment.
“Kount’s new partnership with Chargebacks911 gives merchants access to two industry leaders that are offering solutions for the rapidly growing chargeback problem,” said Rich Stuppy, COO, Kount, in a prepared statement. “Together these solutions will provide a powerful ROI for merchants while providing them the data and confidence needed to aggressively grow their businesses while reducing fraud.
“We’re excited to be partnering with Kount to provide industry-leading fraud and chargeback prevention solutions,” said Monica Eaton-Cardone, COO at Chargebacks911, in a prepared statement. “Illegitimate chargebacks are increasing at an alarming rate every year and the burden of mitigation unnecessarily falls on merchants. Chargebacks911’s in-depth card scheme expertise and understanding of merchant processes combined with Kount’s best-of-class fraud prevention technology ease this burden off of financial institutions and merchants while ensuring and supporting business profitability.”