Chargebacks911 has announced the appointment of payments industry entrepreneur Oliver Rajic to the Board of Directors. Rajic will act as a key advisor to Monica Eaton, CEO of Chargebacks911, as the company seeks to expand in Asia. Rajic has been based in Singapore for several years and was Chief Growth Officer at PPRO until November 2023.
Chargebacks911 sees a huge opportunity for growth in the APAC region. The APAC region accounts for 64% of global e-commerce spending. Three times higher than North America and five times higher than Europe. Statista estimates that global retail e-commerce sales will exceed 6.3 trillion US dollars in 2024, and it will continue to grow in the future.
It is estimated that 5% of this revenue is lost to payment fraud each year. Chargebacks911 believes that online payment fraud is set to cost the APAC market $200 billion this year alone. Chargebacks911 has been operating since 2017 in Asia, and Rajic will bring his local knowledge to support Chargebacks911’s go-to-market efforts. He may also be involved in building out the local team, possibly by leveraging his network in the region.
Monica Eaton, Founder and CEO, of Chargebacks911, said, “The payments landscape continues to evolve, with e-Commerce and cross-border innovation from the APAC region specifically. As seen in more developed markets, the task of managing post-transaction fraud is too often an afterthought – APAC’s merchants and FIs suffer some of the highest dispute rates globally. Oliver instantly understood the value CB911 brings and is the right leader to help us on our mission to lead in APAC. His track record speaks volumes and we are delighted to have him as part of our winning team.”
Who is Oliver Rajic?
Oliver Rajic has deep experience in the payments industry. He is currently an advisor to both PPRO and 01Fintech in Singapore. Rajic drove the growth of PPRO during his tenure there. He was also CEO of Alpha Fintech for 10 years, which operated across Singapore, Ireland, Australia and the Americas. Prior to that, he was Director of Global Payments at First Data and European Regional Manager at Ibbotson Associates.
Rajic has an MBA from the Kellogg School of Management and a BS in international business and finance from the USC Marshall School of Business.
Oliver Rajic, Board Member at Chargebacks911, commented, “Chargebacks911 is the undisputed leader in the North American and European markets, and we are on a mission to replicate this success and eliminate disputes across APAC. Merchants, Marketplaces, Payfacs, PSPs and Banks will tremendously benefit from this not only financially, but with increased customer satisfaction.”
Enterprise Times: what does this mean
Eaton continues to strengthen her leadership and Board. In March, the firm appointed Roger Alexander as an advisor to the Board. It also appointed Guy Harris as Board Chair in the last twelve months. She is looking to strengthen the local but global team of advisors to help the firm expand in all its target regions.
It is another wise appointment by Eaton as she looks to grow the firm outside its home region. It will be interesting to see whether she seeks to target the Indian or Chinese market for Chargebacks911, both huge markets in their own right.
