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Amadeus and Chargebacks911 Join Forces to Help Airlines Handle Rise in DisputesA chargeback is the formal process initiated when a cardholder disputes a payment - often leading to the cardholder being reimbursed directly by their issuing bank, which then obtains the funds from the merchant. Since the disruption seen during the COVID-19 pandemic the travel industry has witnessed a significant rise in chargebacks, with one in every eight chargebacks now related to travel purchases. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221130005514/en/ Given the rise in disputes, some travel companies lack the resource and data insights to handle the process efficiently, with many disputes automatically resulting in favor of the cardholder, often without challenge. That's why Amadeus is launching Amadeus Chargeback Management, powered by Chargebacks911, which provides airlines with an automated and fully outsourced service to better manage chargebacks at scale. Airlines can now see a detailed overview of chargebacks by accessing the existing Xchange Payment Platform (XPP). Increased automation is achieved with Amadeus' unique travel information, which provides a clear view of whether a traveler received the service in question. This is combined with detailed payment information to help airlines automate their response to each dispute, reducing instances of fraud and the overall cost of managing chargebacks. Monica Eaton, Founder of Chargebacks911 said: "Unfortunately, if passengers miss a flight or if their plans change, some decide to raise an illegitimate chargeback. Periods of recent disruption have increased awareness of chargebacks amongst travelers, and the ease with which disputes can be raised via mobile banking apps mean high volumes are a significant issue. Our partnership with Amadeus lifts the burden, so airlines can focus on their core business." Damian Alonso, Head of Platform and Partnerships, Payments, Amadeus commented: "Travel companies told us chargebacks have increased by 50% on average since the pandemic. Addressing the issue is a high priority for 70% of firms we surveyed, and it's easy to see why. It is estimated fraudulent disputes cost airlines upwards of $1B annually. By combining our travel and payment information with Chargeback 911's specialist service, the industry can automatically spot and efficiently resolve disputes." The Amadeus Xchange Payment platform is used by more than 100 airlines to analyze, manage and optimize their complex global payment flows, across multiple sales channels. In line with its strategy to provide a one-stop-shop payments platform to the travel industry, Amadeus is progressively adding new in-house and partner developed payments capabilities to XPP. XPP users can now easily access fintech services like Buy Now Pay Later, multi-currency pricing, alternative payment method acceptance and now, specialized chargeback management. - Ends - Notes to the editors: About Amadeus Travel powers progress. Amadeus powers travel. Amadeus' solutions connect travelers to the journeys they want through travel agents, search engines, tour operators, airlines, airports, hotels, cars and railways. We have developed our technology in partnership with the travel industry for over 30 years. We combine a deep understanding of how people travel with the ability to design and deliver the most complex, trusted, critical systems our customers need. In 2019, we helped connect over 1.9 billion people to local travel providers in over 190 countries. We are one company, with a global mindset and a local presence wherever our customers need us. Our purpose is to shape the future of travel. We are passionate in our pursuit of better technology that makes better journeys. Amadeus is an IBEX 35 company, listed on the Spanish Stock Exchange under AMS.MC. The company has also been recognized by the Dow Jones Sustainability Index for the last ten years. To find out more about Amadeus, visit www.amadeus.com. About Chargebacks911 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. www.chargebacks911.com About Fi911 Fi911 supports financial institutions with innovative back-office automation technologies created specifically for banking and financial institutions. By supporting direct communications between FIs and their ecosystems, the company's scalable payment product suite offers features that range from fast, flexible merchant onboarding to highly transparent and feature-rich client portals. Fi911's proprietary DisputeLab™ helps resolve chargeback disputes faster and more efficiently by utilizing next-generation technology that leverages a robust rule engine and highly scalable microservices specifically designed to optimize each step in the dispute cycle. The company's unified platform also provides threat detection, reconciliation, risk management tools, and the ability to generate commissions and ISO pay-outs directly through the system. Established by the dispute experts at Chargebacks911®, Fi911 offers global reach and expertise, and customized training and support from recognized industry leaders. https://fi911.com/
View source version on businesswire.com: https://www.businesswire.com/news/home/20221130005514/en/ |
