Monica Eatons foray into the payments realm originated from her entrepreneurial roots in e-commerce, where she initially ventured into luxury goods and cosmetics. However, her journey took an unforeseen twist when her online retail enterprise encountered a tidal wave of chargeback abuse, a pervasive issue afflicting numerous online merchants.
Determined to tackle this challenge head-on, Eaton embarked on a mission to unravel the complexities of chargebacks and payment systems. She sought counsel from risk managers, delved into the intricacies of credit card regulations and meticulously dissected chargeback cases to discern their underlying causes.
Through her exhaustive efforts, Eaton devised a comprehensive strategy to combat chargeback abuse, identifying a glaring void in the industry for specialized expertise in chargeback management. Fueled by a desire to shield fellow merchants from similar adversities, she laid the foundation for Chargebacks911 to address this critical need.
Chargebacks911 is the global leader in chargeback prevention and remediation technology. As a platform provider to merchants and financial institutions, the firm 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 and financial institutions.
Since the firms inception, Eatons ventures have achieved remarkable milestones, recovering over $5 billion in revenue, safeguarding more than 10 billion transactions, and preventing nearly $200 million in losses attributed to first-party misuse and friendly fraud.
Monicas entrepreneurial odyssey epitomizes her steadfast commitment to empowering merchants and fortifying the integrity of the payments ecosystem through innovative solutions and unparalleled expertise, said her staff.
Building on the success of Chargebacks911, Eaton established Fi911 in 2020, extending innovative merchant risk technology and intelligent chargeback services to financial institutions (FIs). Fi911 addresses the communication gap prevalent in the payments industry by bridging acquirers and issuers, complementing Chargebacks911s merchant-centric approach.
Eatons success has earned numerous recognitions, including retail systems awards and the honor of global leader of the year in IT awards. She has also established the not-for-profit organization, Paid for Grades, which provides students with resources to improve reading skills and build confidence. According to Eaton, listening is one of the most important attributes to be successful as a leader. As a leader to my employees, I think its incredibly important to find out your employees motivations and passions to determine what drives them, she said. Sometimes, its as simple as a salary increase. Others want accolades. Some want opportunity and development. We survey our employees as a group and individuals to find out what they want and make adjustments where we need to.
