Ecommpay announces US local acquiring with insurance from chargebacks

By Gloria Methri

Ecommpay is offering local acquiring services in the US, enabling UK and EU merchants the ability to expand into North America. Additionally, Ecommpay will offer protection from fraud-related chargebacks to ensure merchants do not lose valuable time and money when those chargebacks occur.

Ecommpay data indicates that merchants lose 1.7% of their business turnover due to chargebacks from the US market. With Ecommpay’s protection, this is reduced to 0.5%.

To protect its merchants and encourage better industry practice, Ecommpay now offers local acquiring for the US market with its fraud prevention and risk management solution, adding its own protection from all fraud-related chargebacks.

This will secure merchants from the risks of low sales, chargeback arbitration fees (up to $500 per case), increased operational expenses, and potential time lost. Through this insurance offering, Ecommpay will cover all merchant expenses with only a small additional fee attached to each transaction.

Olga Karablina, Head of Payment Product Development at Ecommpay said, “Providing the best, most secure options for our merchants is key when expanding our local acquiring reach. This move is part of our broader strategy to protect our merchant’s profits and put in place new measures that encourage long-term growth.

This is not without its challenges. Mitigating the conversion issues when it comes to cross-border payments for our merchants has been tricky, but with our insurance for fraud-related chargebacks and our local acquiring abilities, we continue to set the benchmark within the payment industry.

By understanding local markets and the interests of our merchants and customers, we remain on track to expanding Ecommpay’s presence to more and more international markets. Today’s announcement is a reflection of this commitment, helping UK and European merchants expand as we have already demonstrated in LATAM, Asia, South Africa, and the Middle East.”