Ep 15: The True Business Cost of Chargebacks with Melissa Fitzsimmons of Chargebacks911

Whether you’re offering merchant services, or just a small business owner selling products and services to customers… when it comes to credit card processing, chargebacks are the enemy. Unfortunately, too many people underestimate just how costly chargebacks can be, and don’t bother with tools and information that could help them reduce, fight, and even eliminate chargebacks.

Scott was joined on this episode by Melissa Fitzsimmons, who works on Business Development for Chargebacks911, a company that specializes in helping merchants manage chargebacks. Melissa had fantastic advice for how to reduce chargebacks, and made an incredible business case why focusing combating them can have an incredibly positive financial impact on businesses.

Payments Industry Insights In This Episode:

  • What chargebacks are, and how many billions of dollars of revenue businesses lose from them every year.
  • How businesses can prevent chargebacks from happening, and fight chargeback disputes successfully.
  • Melissa’s overview of some of the latest and greatest tools helping merchants with chargebacks, including VMPI.
  • What Melissa sees in the future for the payments industry, chargebacks as a whole, and of course Chargebacks911.
  • With a whole bunch more!

Featured on the Show:

Payments Industry Spotlight: Chargebacks911

Chargebacks911 is the original chargeback management solution. They “specialize in helping online businesses prevent chargebacks, minimize loss, mitigate risk, recover lost revenue, and enhance the customer experience.”

They provide services . that were specially designed to handle the task of chargeback management in its entirety. Chargebacks911™ aims to liberate valuable resources so merchants can focus on retaining customers, increasing sales, and growing their business. Founded by former merchants who have a detailed understanding of the challenges businesses face on a daily basis, they are able to “create dynamic, agile solutions to address emerging industry threats.” Their processes are “proactive rather than reactive, meaning clients are able to stay one step ahead of potential fraud.”

Chargebacks911® manages more than 2 billion transactions annually with the goal of helping online merchants optimize profitability through chargeback management. Chargebacks911 is headquartered in the Tampa Bay area, with offices in North America, Europe, and Asia. To learn more, or for a demo of the product you can contact Melissa at m.fitzsimmons@chargebacks911.com

Small Business Organization of the Week: The Dallas Entrepreneur Center

If you’re an entrepreneur, small business owner, or just working in a small business, you’ll inevitably run into challenges as you work to grow. You also could benefit greatly from connecting with others in your niche, or just having some extra guidance. With that in mind, we want to honor organizations that are bringing business owners, future business owners, and even employees from many different areas together.

That’s why every episode we recognize and award a small business organization or group of the week. We also look to PayPod listeners to give us nominations. If you have an organization in mind, send us a message on social media (or email) and let us know!

This week we’re happy to award The Dallas Entrepreneur Center (The DEC).

“The DEC is a 501c3 non-profit organization driving innovation and economic impact by helping entrepreneurs start, build and grow their businesses. Since 2013, they have been launching physical hubs and education programs for startups, accelerating connections for founders, and collaborating with investors, corporations and public institutions. The DEC believes investment in entrepreneurs is an investment in the community.

From creating jobs to triggering economic growth and generating local revenue, the value of startups can be seen in communities across the country. However, for the majority of entrepreneurial hopefuls, reaching a point of success is not without its challenges. The DEC helps remove those challenges by blending valuable online and offline resources and events/programs in a much-needed physical presence to deliver direct access to the resources, education, and guidance needed to make startups successful and economic growth in Dallas achievable and sustainable.”

They accomplish this through mentorship, hosting and participating in networking events, building community, and so much more.

Entrepreneurship isn’t just about individuals, it’s important to recognize how access to resources and connections can help new startup businesses become successes. That’s why The DEC is a very worthy award winner.