Worldpay from FIS Extends Partnership with Chargebacks911 to Help Reduce Chargebacks for Merchants

Rhea-AI Summary

Worldpay from FIS has expanded its partnership with Chargebacks911 to introduce enhanced Disputes Deflector products aimed at reducing chargebacks and fraud for merchants. With 65% of merchants facing increased chargeback fraud in 2022, this initiative addresses a critical issue in the fintech landscape. The Disputes Deflector suite offers five products that integrate best-in-class solutions and streamline dispute management. This move reflects a shift towards automated processes in response to evolving merchant needs and consumer behaviors.

Positive

• Expanded partnership with Chargebacks911 enhances product offerings.
• Disputes Deflector products aimed at reducing chargebacks and fraud.
• Integration of multiple APIs to streamline dispute management.

Negative

• 65% of merchants reported an increase in chargeback fraud, highlighting ongoing challenges.

Key facts

• Worldpay from FIS is deepening its partnership with Chargebacks911 by introducing a broader range of Disputes Deflector products to merchants.
• Disputes Deflector will help Worldpay’s merchants reduce chargebacks, costs, and lower fraud.

 

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Financial technology leader Worldpay from FIS^® (NYSE: FIS) is extending its partnership with dispute technology provider, Chargebacks911, by launching an enhanced range of Disputes Deflector products. These products will provide merchants with a broader range of solutions to help reduce chargebacks, lower costs and combat fraud.

Chargebacks continue to be a big issue for merchants, with a recent survey finding 65 percent of merchants had reported an increase in chargeback fraud in 2022¹. FIS is proactively trying to ease the chargeback burden on merchants by launching an enhanced range of Disputes Deflector products.

Disputes Deflector is a set of five chargeback and dispute avoidance products accessible through one single integration. Worldpay’s flexible architecture connects merchants to best-in-class service providers, and through an open platform, they will be able to leverage consolidated post-transaction fraud management tools that are integration-friendly and supported by multiple APIs. This will allow merchants to access the best-in-class solutions that dramatically streamline chargeback and dispute inquiry management, while simultaneously gaining access to the next-generation of payment capabilities and technology which responds to the growth of eCommerce.

“Changes in consumer preferences and merchant practices have retailers, card issuers and networks moving away from the manual dispute management processes,” said Vicky Bindra, Chief Product Officer at FIS. “Open platforms and flexible architecture are now vital, allowing automated products that reduce the time and effort invested in managing and resolving dispute volume. We are delighted to further expand our partnership with Chargebacks911 to provide merchants with a comprehensive and innovative product that will help them fight costly chargebacks.”

“We've been very impressed by Worldpay identifying merchants' need for automation in managing the increasing complexity of disputes,” said Monica Eaton-Cardone, COO and Co-Founder of Chargebacks911. “This consolidated approach will deliver much needed scale and efficiency as the world becomes more digital. And as the card brands continue to expand their offerings the task of managing disputes at all stages requires aggregation and expertise, best leveraged through a unified platform.”

Chargebacks911 is a global leader in chargeback management and safeguards over 2.4 billion online transactions every year, representing clients in 87 different countries².

About FIS

FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS ranks #241 on the 2021 Fortune 500 and is a member of Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).

¹ Chargebacks 911 2022 Chargeback Field Report

² Chargebacks 911.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220728005058/en/

Kim Snider, 904.438.6278

Senior Vice President

FIS Global Marketing and Communications

kim.snider@fisglobal.com

Source: Fidelity National Information Services

FAQ

What is the purpose of the new Disputes Deflector products from FIS?

The new Disputes Deflector products aim to help merchants reduce chargebacks, costs, and fraud.

Why is FIS focusing on chargeback management?

FIS is addressing the significant issue of chargeback fraud, which has affected 65% of merchants in 2022.

How many products are included in the Disputes Deflector suite from FIS?

The Disputes Deflector suite includes five chargeback and dispute avoidance products.

What types of businesses can benefit from FIS’s Disputes Deflector?

Merchants of various sizes utilizing Worldpay services can benefit from the Disputes Deflector products.

What technological solutions are integrated into FIS's Disputes Deflector?

The Disputes Deflector integrates multiple APIs for streamlined post-transaction fraud management.