Monica Eaton-Cardone, COO and Co-Founder of dispute management specialist, Chargebacks911, has been named winner of the Women in Payments US Innovation Award.
The 2020 awards program, which took place at the Ritz-Carlton Tysons Corner, in Virginia this week, recognises the achievements of those that distinguished themselves as leaders and innovators in the payments industry throughout 2019.
Monica scooped the gold thanks to the instrumental role she played in promoting innovation in the payments industry, using her creativity, vision and perseverance.
Monica set up Chargebacks911 over a decade ago to tackle $100 billion+ chargeback fraud problem. The company works to prevent friendly fraud and mitigate chargebacks by mending inefficient business processes, using its Intelligent Source Detection™ (ISD) technology and expert data analysis.
Throughout 2019, Monica worked closely with some of the largest retailers and financial institutions to continue tackling the issue. Judges favoured the effectiveness of the technology that Monica helped create, despite no formal qualifications in software engineering. It uses a combination of payment data, enriched industry data, big data, and proprietary AI and machine learning applications to identify the true cause of disputes – an essential part of mitigating chargebacks.
With Monica’s direction, the company engineered an eight-step representment process that is now industry best practice for merchants in digital goods industries, allowing it to identify friendly fraud that was previously impossible to detect.
On receiving the award, Monica commented: “It’s amazing to be recognized by the Women in Payments for this award. With the digital age bringing an influx of chargebacks and friendly fraud, so it’s encouraging that my achievements in fighting the issue are recognised.”
In addition to her hard work helping businesses effectively mitigate chargebacks, Monica has also leveraged the success of her company to set up a not-for-profit organisation, Get Paid for Grades, which aims to inspire the next generation of young innovators.
Monica added: “Going forward, I hope winning this award will help inspire diversity in the payments industry and encourage young women to consider STEM subjects as part of their education. We need greater diversity at senior level throughout the entire tech industry to solve some of the industry’s most difficult issues.”
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 maximize revenue and reduce loss in a variety of industries and sectors within the payments space.
Chargebacks911 provides comprehensive and highly scalable solutions for chargeback compliance, handling services and fraud strategy management. The company helps decrease the negative impact of chargebacks, thereby increasing revenue retention to help ensure sustainable growth for every member of the payment channel. Chargebacks911’s unparalleled category experience and Intelligence Source Detection (ISD™) technology identifies the true source of chargebacks, optimizes revenue recovery opportunities, mediates disputes, safeguards reputations, monitors transactions 24/7 and helps proactively prevent future fraud. www.chargebacks911.com