Chargeback technology platform Chargebacks911 recently announced the appointment of payments industry entrepreneur Oliver Rajic to the board of directors. In his new role, Rajic will serve as a key advisor to Chargebacks911 and its CEO, Monica Eaton. This includes assisting the company with its expansion initiatives across APAC, where the company said there is a real need for dispute management and the business is a real force.
According to Chargebacks911, APAC accounts for 64% of global e-commerce spending, three times greater than North America and five times greater than Europe, but around 5% of revenue is lost each year to payment fraud. Losses from online payment fraud are expected to exceed £200 billion this year in the region.
Rajic is tasked with optimizing the go-to-market strategy, diversification, and staff management. This move follows other strategic appointments in the past twelve months, with Guy Harris as chair and Roger Alexander as advisor and board member. Eaton expects to make further leadership announcements soon.
The Chargebacks911 platform supports more than 2.5 million merchants and more than 3,800 connections worldwide, including many of the world’s largest financial institutions.
“Chargebacks911 is the undisputed leader in the North American and European markets, and we are on a mission to replicate this success and eliminate disputes across APAC,” Rajic said. “Merchants, marketplaces, payfacs, PSPs and banks will tremendously benefit from this not only financially, but with increased customer satisfaction.”
“The payments landscape continues to evolve, with e-commerce and cross-border innovation from the APAC region specifically,” Eaton added. “As seen in more developed markets, the task of managing post-transaction fraud is too often an afterthought – APAC’s merchants and FIs suffer some of the highest dispute rates globally, readily available solutions. Oliver instantly understood the value CB911 brings and is the right leader to help us on our mission to lead in APAC. His track record speaks volumes and we are delighted to have him as part of our winning team.”
