With Appointment of Roger Alexander as Advisor, Chargebacks911 Well Placed to Tackle APP Fraud
LONDON–(BUSINESS WIRE)–#Chargebacks—Chargebacks911, the leading chargeback technology platform, announced Wednesday the appointment of leading payments industry professional Roger Alexander as Advisor to the Board and CEO.
In his new role, Alexander will serve as a key advisor to Chargebacks911’s Advisory Board and its CEO, Monica Eaton, assisting the company with its expansion initiatives, including the highly-anticipated launch of its dispute resolution solution set to address the record spike of authorised push payment (APP) fraud claims.
According to UK Finance, APP fraud losses in the UK reached £239.3 million in the first half of 2023, most of which stemmed from online purchasing scams where customers were tricked into paying money for products that never arrived. To help fight losses attributed to APP fraud, the UK recently proposed an amendment to its Payment Services Regulations (PSR) that would enable banks and payment services to delay payment processing up to four business days (currently D+1) in instances where fraud or dishonesty is suspected.
This amendment is set to be enacted when the PSR’s new reimbursement requirement for APP fraud kicks in on Oct. 7, after which payment service providers (PSP) will be liable for reimbursing 50 percent of monetary losses to victims of APP fraud within the faster payments system. As the government looks to address APP fraud and other digital scam tactics, collaboration and innovation from service providers within the payments industry—including Chargebacks911—is desperately needed.
To better help address these issues facing banks, PSPs and merchants in the UK, Alexander will be lending his expert insights to Chargebacks911 to help them create the most effective solution possible. When asked his primary reason for joining the company, Alexander expressed his admiration for Chargebacks911’s visionary leadership and ambitious growth plans for both their U.S. and European operations.
“Monica and I have an extensive professional relationship, and I was immediately drawn to her vision for the future of Chargebacks911 and how they look to positively disrupt the way transaction disputes are currently being resolved,” said Alexander. “The company’s innovative solutions and services represent the tipping point in the payments industry, and I am honoured to now be a part of this journey.”
Alexander brings with him a wealth of experience, having served in various leadership roles within the payments and financial services sectors, including more than a decade in directorial roles at Barclays and subsequently as the CEO of Switch (the UK’s Debit Card) and President of Elavon Merchant Services Europe. He is currently a strategic advisor for Tarci and Pennies, a major UK charity, and previously held key NED positions with ACI Worldwide, Caxton and Valitor, among others. With over 36 years of payments experience, Alexander is poised to address the pressing challenges and opportunities facing the industry today.
“Fraud remains a constant challenge for organisations worldwide, but it also presents opportunities for innovative solutions,” Alexander explained. “Chargebacks911 is uniquely positioned to address this challenge, and my role will be to ensure that our knowledge and experience are aligned to develop products and services that serve the evolving needs of banks, PSPs and merchants.”
Reflecting on Chargebacks911’s competitive edge, Alexander pointed to the company’s status as an original disruptor in dispute resolution. The fintech company, founded in 2011, was the first global entity dedicated to managing, mitigating and preventing chargebacks.
Monica Eaton, CEO of Chargebacks911, welcomed Alexander to the team, stating, “I’ve looked up to Roger since I heard him speak at one of the first industry events I ever attended, where he posed the question, ‘Is it consumer behaviour or technological evolution?’ – as an approach to the cause of chargebacks and fraud. Today, there’s no better way to phrase how fraud is disrupting payments. Adjustments on both sides are requisite. Roger’s vast experience and strategic insights will be incredibly valuable as we continue to drive innovation and growth in the industry. We are thrilled to have him on board and look forward to leveraging his expertise to further elevate Chargebacks911’s solutions for banks, PSPs and merchants.”
Alexander’s appointment underscores Chargebacks911’s commitment to delivering cutting-edge solutions and expertise to meet the evolving needs of the payments industry worldwide.
“With his extensive intuition and insights built on years of industry experience, Roger will bring an invaluable perspective to ensure our chargeback solutions address the post-transaction challenges affecting the industry head on,” said Guy Harris, Chairman of Chargebacks911. “Meeting the needs of UK banks, PSPs and merchants means working together with the brightest minds in payments, and that’s exactly what we have in Roger.”
For more information on Chargebacks911 and their Software as a Service (SaaS) solutions, visit www.chargebacks911.com.
Chargebacks911® is the global leader in chargeback prevention and remediation technology. As a platform provider to merchants and financial institutions, Chargebacks911 is the first global company fully dedicated to providing an end-to-end platform specifically designed to counter post-transactional fraud and chargeback misuse. Today, Chargebacks911 safeguards more than 2.4 billion transactions per year on behalf of clients in 87 countries around the world, supporting over 2.5 million merchants. For details on Chargebacks911’s comprehensive dispute management solutions, visit https://chargebacks911.com.
Contacts
Justin Clements
Tel: 877.634.9808 ext. 7905
Mobile: 812.621.0631
Email: [email protected]
