Money20/20 USA: Chargebacks911 on Promoting Women in Fintech
Money20/20 USA 2023 saw the leading lights of financial services come together in Las Vegas to connect and offer key insights into the future of fintech.
We spoke to Pelwasha Faquiryan, Chief Growth Officer for Chargebacks911, about helping bring more women into the fintech space and solving the issue of chargebacks for merchants and brands.
Chargebacks911: Promoting women in fintech
“There are many things we participate in as far as encouraging, empowering, and bringing other women leaders along,” says Faquiryan.
Indeed, having a woman founder in Monica Eaton empowers Chargebacks911 to passionately deliver opportunities for underrepresented people. “There’s so much upside we can gain from it,” adds Farquiryan.
Of course, it has been difficult for women to enter what is historically a male-dominated industry, and Chargebacks911 CEO Eaton had to establish the company almost single-handedly after becoming frustrated with illegitimate chargebacks when she operated a merchant business.
In 2023, Eaton told FinTech Magazine: “Rather than giving in, I decided to tackle the problem head-on. I had no formal experience in developing a platform, but I was able to create a solution to the problem.
“It worked so well that other businesses and banks started coming to me to consult. It was this seed that grew into Chargebacks911.”
The chargebacks problem
Eaton’s company is still leading the charge against illegitimate chargebacks today, which Faquiryan reminded us at Money20/20 USA is still “a major issue” for many companies.
She adds: “Whether you're a financial institution or a merchant, regardless of size, chargebacks are simply revenue loss for you. So what we're trying to focus on is bringing revenue back to you in a way that becomes meaningful.
“One of the catalysts for what chargebacks continue to rise is increased fraud. The COVID-19 pandemic allowed bad behaviours to develop alongside the rise of ecommerce platforms.
“So as e-commerce continues to grow so does the issue and the challenge of chargebacks, it's a massive area in need of resolution, and Chargebacks911 is here for that.”
For more from Faquiryan and Chargebacks911, you can click on the video link above.
Want to see more from Money20/20 USA 2023? Stay tuned to our website for more content, which will be rolled out in the coming days.
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