We are excited to announce that our CIO for Global Risk Technologies™, Monica Eaton, is featured in the most recent publication of Payments Cards & Mobile. The article discusses Chargebacks; what they are and how they are becoming an increasing problem in the European market. Global Risk Technologies™’ background and the unique product they offer solves this ever growing issue of chargebacks. Chargebacks are one of the main challenges faced by online merchants and this is how the founder of Global Risk Technologies™, Monica Eaton came to develop a solution not only recording chargebacks but helping prevent them and recover lost revenue. She also states that the European eCommerce market is growing at a fast rate and that the fight against friendly fraud is only going to get tougher!
Below are some excerpts from the article. To read more, please subscribe to Payments Cards & Mobile Here.
[blockquote]‘With the e-commerce activity skyrocketing across the developed world and, increasingly in emerging markets too, chargebacks-typically where a consumer asks for a refund for goods that they didn’t receive, sometimes in error but often enough to avoid payment-is becoming a problem that retailers are reluctant to own up to.’[/blockquote]
[blockquote]‘Monica Eaton, CIO and co-founder of Global Risk Technologies™, speaking at MPE this year explained the business model and the success the company is having at winning new friend in the retail industry. “We have history as retailers- when we launched our e-commerce site we quickly discovered the challenges of managing the payment process and the risk of chargebacks. This led us to move into getting a better understanding of the chargeback process. When we did this we discovered that the losses to chargebacks are often simply recorded on the balance sheet with little effort to reduce or recover them. So we developed a piece of technology that could automate the process of recording chargebacks, simplifying the process of recording chargebacks and as a result provide analytics to help merchants recover some of their lost revenue-very important in the cutthroat world of online retail.” ’[/blockquote]
