Speedy Holdings Group, Inc. has announced its latest product, Financial Protection Services, a solution for merchants in need of safeguarding their business from friendly fraud chargebacks.
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Financial Protection Services is currently in the stage of raising capital for its planned product launch, expected to occur in the middle of 2024. According to the company's calculations, the platform has the potential of billions of annual revenues per year, making it an interesting opportunity for investors in the tech industry.
More information can be found at: https://www.speedyhg.com/
Friendly fraud is the act of a customer disputing a credit card charge without criminal intent. A few reasons why consumers raise a friendly chargeback concern could be a misunderstanding of the terms and conditions, forgetting about the purchase, or that their credit card details were used without their authorization. Alas, this phenomenon is a big issue for merchants, with Financial Protection Services pointing out that friendly fraud is increasing by up to 81% annually. The coming platform aims to protect companies from the financial consequences of chargebacks, ensuring they can run their business safely.
An article from Digital Transactions highlights the growing concern of friendly fraud, stating that it's a bigger problem for merchants than criminal-intent fraud. Mastercard predicts that over $117 billion will have been lost to friendly chargebacks in 2023, underlining the financial damages these claims have on businesses.
Financial Protection Services' platform aims to eliminate the losses credit card processing companies incur from friendly fraud and fees and support merchants by covering the chargeback automatically through a loan. By ensuring they always have sufficient funds to cover claims, business owners protect themselves from restrictions from credit card companies- something that can have serious consequences for a business.
Moreover, Financial Protection Services is working on a revolutionary patent-pending financial process platform for overdraft protection attached to a business checking account. The expected launch date is 1-2 years away, and the product will be accessible to businesses of different sizes and credit scores.
With Financial Protection Services, Florida-based Speedy Holdings Group will become an integral part of secure transactions in the era of digital goods and online shopping.
Scott Clymo, the inventor of this new technology and CEO and founder of Speedy Holdings Group, said: "we are committed to constantly launching new products and services or improving upon existing ones that help business owners increase their revenue while lowering their liabilities at the same time."
Those interested can find more information at: https://www.speedyhg.com/
Contact Info:
Name: Scott Clymo
Email: Send Email
Organization: Financial Protection Services
Address: 65 E Nasa Blvd , Melbourne, FL 32901, United States
Website: https://speedyhg.com
Source: PressCable
Release ID: 89116756
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