Payment orchestration specialist Nexio has announced a new collaboration with Chargebacks911, which will allow the firm to benefit from end-to-end dispute management as it strengthens the fight against fraud.
It’s a collaboration that seeks to provide a significant tool in the growing fight against fraud – with the True Cost of Fraud Report by LexisNexis revealing that every $1 in chargebacks costs the merchant $2.86. This comes alongside the addition to the liability and reputational threat imposed on merchants due to the impact of chargebacks.
Commenting on the partnership, Andy Tierney, VP Of Strategic Accounts at Chargebacks911, said on the link: “We are delighted to work with Nexio and offer them a competitive differentiation and the room to maximize market potential. By delivering transformative results through this integration and tackling chargeback disputes, we hope to improve the longevity of Nexio’s merchants and improve the outcome for every point on the payment chain.”
While eCommerce fraud surged by 18% in 2021, merchants lost an estimated $20 billion due to criminal activity, compared to $17.5 billion the year before.
Rob Marriot, Chief Sales Officer at Nexio, added on the collaboration and what it means for the fight against fraud: “At Nexio, we offer a payment platform that empowers merchants to control payments. Joining forces with Chargebacks911 further strengthens our promise to provide increased optionality. This strategic partnership will widen our decline recovery offering, helping our merchants to protect their revenue and providing them with chargeback data in real-time. This is a real competitive differentiator.”