Payment orchestration platform FinMont has chosen Chargebacks911 to offer its travel merchants a comprehensive chargeback management plan with enhanced data analysis and profits. The FinMont platform aims to revolutionise payments by seamlessly connecting multiple banks and providers through one simple gateway.

It also aims to improve payment authorisation and conversion rates and by utilising its partnership with Chargebacks 911, it can now offer merchants a comprehensive solution to defend against chargebacks. The payment orchestration platform’s ecosystem connects acquiring banks, payment, fraud, forex, and chargeback providers and integrates with ERP/CRM systems and other travel-specific distribution channels, offering a complete payment ecosystem for the travel industry. Augmented chargeback protection and payment management for travel industry payments According to the press release, approximately 3 billion airline payment transactions occur worldwide each year, totalling USD 1 trillion in value.

A McKinsey report highlights that these payments are important for the travel sector, yet they cost the airline industry over USD 20 billion annually. This represents about 3% of the airlines' total revenue, but more notably, it accounts for 78% of the industry's net profit. And this pertains only to airlines.

The broader travel industry expends vast sums of money on payments, with a whitepaper from IATA revealing that 41% of travel companies attribute their primary financial stress to managing complex payment systems. Executives form FinMont said they are happy to partner with Chargebacks911 and incorporate their comprehensive solution into FinMont’s global ecosystem. They are a prominent player in countering post-transactional fraud and by utilising their advanced platform, they believe this will ensure they offer their merchants an augmented service.

As part of their global strategy, they will integrate with banks, payment, fraud, and other providers to offer a truly unique solution to the travel industry. Also commenting on the partnership, Chargebacks911’s officials said they are happy to collaborate with FinMont, which has gone to incredible lengths to create a payment solution uniquely designed to address the challenges and needs of the travel industry. For travel merchants experiencing post-transactional issues, their solution will allow the payment platform to offer their clients a solution for preventing chargebacks and managing the growing threat of post-transactional fraud.

FinMont's approach and Chargebacks911's fraud prevention solutions FinMont has been founded to offer the travel industry a unique solution that, unlike other options available, streamlines B2C and B2B payments. Combining both payments into a single view will help decision-makers identify and fix inefficiencies in their current payment processes. The company’s mission is to help travel merchants use payments as a strategic tool to stand out from their competitors.

Chargebacks911 offers a comprehensive chargeback management solution through its end-to-end technology platform specifically designed to counter post-transactional fraud. The data-driven platform provides merchants with chargeback prevention and remediation technology. The company supports more than 2.5 million merchants around the globe and helps safeguard over 2.4 billion online transactions.

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