OREM, Utah, April 25, 2022 (Newswire.com) - A leader in payment orchestration, Nexio, today announces that it has partnered with 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."