Global acquirer and payments processor ACI Worldwide and chargeback-management specialist Chargebacks911 yesterday unveiled a partnership under which ACI merchant customers can leverage new strategies to combat the chargebacks eating away at online sales revenue. The companies cited JPMorgan research in their announcement that indicates chargebacks rose by 20 percent last year while overall transactions grew by only 7 percent. For online and other CNP merchants, the consequences for chargebacks are especially grave, given the liability rules put in place by the major card networks.
ACI, which acquired antifraud technology provider ReD in 2014 so it could enable its merchants to improve how they predict and prevent fraudulent transactions before the order is shipped, has now struck a partnership with a company that can help merchants manage the effects of any fraud that happens to get through their defenses.
“Merchants today are aiming to be more proactive with chargeback management, no longer accepting chargebacks, but successfully fighting them to protect their bottom line,” said Jackie Barwell, director of fraud product management for ACI Worldwide. “We’re pleased to expand our merchant offering through this collaboration with a leader in chargeback mitigation.”