Global Risk Technologies, a global specialist in comprehensive chargeback prevention and chargeback mitigation, and Inform GmbH, a world-class provider of risk management and fraud prevention software, today announced a unique strategic partnership that will provide merchants and acquirers in Europe and the United States with the first ever end-to-end chargeback prevention solution equipped to deal with rising CNP chargeback rates and remain compliant according to the most recent regulatory changes.
Global Risk Technologies has connected with INFORM’s award-winning anti-fraud solution RiskShield to provide intelligence for both source-point assessment and post chargeback dispute activity. A pioneer in chargeback remediation and loss prevention, Global Risk Technologies’ proprietary technology is now coupled with RiskShield to offer the benefits of Intelligent Source Detection™ and loss prevention technology.
This innovative partnering of front-end, risk-based authorization and fraud detection technology (offered by INFORM and specifically catered to the fast-growing European landscape), coupled with back-end, post-chargeback source detection and revenue recovery (offered by Global Risk Technologies), will help balance the chargeback incidents occurring at an alarming rate (up 41% in the past two years), which is highly correlated with ecommerce growth.
Dr. Andreas Meyer, Director of Risk and Fraud at INFORM commented: “We are pleased to join forces with Global Risk Technologies in the fight against multichannel fraud and chargebacks. We are confident that our award-winning, flexible anti-fraud solution, combined with a market leading post chargeback source detection and revenue recovery service, will be instrumental in protecting merchants and their bottom line.”
Gary Cardone, CEO of Global Risk Technologies, said: “Online shopping has forever changed the buying behaviors of consumers. Merchants and acquirers must deploy commercially sensitive tools to eliminate friction inside the business and minimize future losses across the value chain. Coupling these leading anti-fraud tools will free up valuable resources so merchants can focus on infrastructure, growth, advertising budgets and inventory management.”
This news will bolster stability and growth of traditional and more secure consumer payment methods across Europe and the United States and provide merchants and consumers with what they need most: a sensible, accountable, and standardized solution that can halt the rising tide of card-not-present chargebacks.