A leader in payment orchestration, Nexio, today announces that it has partnered with Clearwater-based Chargebacks911 – the leading dispute technology specialists. This alliance means that Nexio will now benefit from Chargebacks911’s end-to-end dispute management offering while reaping transformative results for its merchants.
According to the True Cost of Fraud report by LexisNexis, every $1 in chargebacks costs the merchant $2.86. In addition to the liability and reputational threat imposed on merchants, chargebacks also bring expensive fees, penalties and trickle-down costs – siphoning out hard earned profits due to increased time and unrecovered losses from goods and services. 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. With these figures growing year-on-year, Nexio is leveraging Chargebacks911’s industry-leading technology to deliver increased value to its merchants, while protecting and defending against chargebacks and disputes.
This is achieved as Chargebacks911’s suite of platforms addresses every stage of the process, from customer service before the sale takes place, through to revenue recovery. This end-to-end approach delivers an enhanced customer experience to Nexio’s merchants and provides them with a competitive advantage and a faster path to revenue growth. This could include greater opportunities for new contracts and leads to occur through cross-selling and warm referrals, as the partnership leverages the combined company audiences.
Nexio gives companies control over their payments, connecting them to the best-in-class tools and the ability to scale where and when they are ready. Their technology provides a payments orchestration layer built with a modern technology stack in a modular and agile form that integrates with merchants to enable them to access the payment technologies needed. Combined with Chargebacks911 acquirer agnostic solutions, merchants are best placed to succeed in global commerce.
Commenting on the partnership, Andy Tierney, VP Of Strategic Accounts at Chargebacks911, says: “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.”
Rob Marriot, Chief Sales Officer, at Nexio, adds: “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.”
Founded in 2011, Chargebacks911 is the first global company fully dedicated to mitigating chargeback risk and eliminating chargeback fraud. As industry-leading innovators, Chargebacks911 is credited with developing the most effective strategies for helping businesses manage disputes and reduce loss in various industries and sectors within the payments space.
Chargebacks911 provides comprehensive SaaS solutions that are highly scalable for managing chargebacks, handling services and fraud strategy management. The company helps decrease the negative impact of chargebacks and provides real-time API connectivity and insights, thereby improving revenue retention using data-driven technology to help ensure sustainable growth for every member of the payment channel.
Chargebacks911’s unparalleled category experience and patented Intelligence Source Detection (ISD™) technology identifies the true source of chargebacks, automatically remediates fraudulently filed disputes, safeguards reputations, monitors feedback 24/7 and provides insight to proactively prevent future fraud.
Nexio is a fintech orchestration platform that demystifies payment complexities, thus empowering platforms (SaaS) and sellers with future-conscious and scalable commerce strategies. Revenue leaders utilize Nexio to unify their commerce operations, giving them modernity, competitive advantage, and adaptability as the needs of their customers change. Nexio’s platform enables sellers and platforms to expand globally, diversify buying experiences with payment methods modern consumers use today, and evolve when strategic pivots are necessary. When our client’s commerce futures become strategic, complexity will never stunt their growth.
Started in 2008 as Complete Merchant Services, Nexio was created to solve payment complexity today and tomorrow through a single platform and API layer. Led by Dave Decker Jr., Nexio has become a trusted payments orchestration platform that enables software platforms with embedded payments technology, and payment scalability to omni-channel merchants with sophisticated commerce requirements. Located in Orem, Utah, with more than 100 employees, we are focused on helping our clients shape their commerce futures with design and adaptability.